20th Mar 2023 20:09
Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company, with operations focused in Wyoming, US - Signs agreements with current stakeholders and a new institutional investor for an increase in its 2024 bonds and 2025 bonds, with a total amount of USD13.6 million committed possibly increasing to USD14.8 million. The convertible financing is meant to sufficiently fund the company for production growth, while allowing management to "optimally conclude" their reserves-based lending and joint-venture negotiations, COPL says. A further undrawn element has been made available by the company's main bondholder to ensure COPL will be appropriately funded into 2024.
Current stock price: 5.68 pence
12-month change: down 83%
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
COPL