TIDMCOPL
RNS Number : 1368A
Canadian Overseas Petroleum Ltd
18 January 2024
COPL Announces Interim CEO and Changes to its Board of
Directors
London, United Kingdom; Calgary, Canada: January 18, 2024 -
Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP:
CSE) & (COPL: LSE), an international oil and gas exploration,
production and development focused in Converse and Natrona
Counties, Wyoming, USA, announces the following executive and
director changes:
-- Mr. Peter Kravitz has been appointed as interim Chief Executive Officer;
-- Mr. Mark Wall has joined its Board as a Non Executive
Director to replace Mr. Atul Gupta who has stepped down.
Mr. Kravitz, a founding principal of Province, LLC, a leading
restructuring advisory firm. Mr. Kravitz has an extensive resume of
engagements, many of which involve notable brands like Sable
Permian, PetSmart, BoardRiders, Samson Resources, Circuit City,
RESCAP, Fleetwood, Radio Shack, Aegean Marine Petroleum, Core
Media, Sable Permian, Nextpoint Financial, Philadelphia Energy
Solutions, Intelsat, 5e Advanced Materials, Claire's and Washington
Prime Group, among others.
Mr. Wall has more than 27 years of experience in the mining
industry in executive, commercial, operations and sustainability
roles. He has operated at various senior levels of publicly listed
mining companies, including as the CEO of a Canadian TSX listed
mining company, the Senior Vice President & Operations Officer
for one of the world's largest gold mining companies listed on the
TSX and NYSE, and the Chief Commercial Officer and lead Operations
executive for a TSX listed copper project in the United States,
which included the construction of a copper processing facility in
Nevada. Mr. Wall holds various degrees and qualifications,
including a Diploma in Minerals Processing, Master of Business
Administration, Master of Management, Masters Certificate in Risk
Management & Business Performance and Diploma of Project
Management. Mr. Wall is a Fellow of the Australasian Institute of
Mining and Metallurgy.
The Company thanks Mr. Gupta for his service as a Non Executive
Director.
About the Company:
COPL is an international oil and gas exploration, development
and production company actively pursuing opportunities in the
United States with operations in Converse County Wyoming.
For further information, please contact:
Mr. Tom Richardson, Chairman
Mr. Ryan Gaffney, CFO
Canadian Overseas Petroleum Limited
Tel: + 1 (403) 262 5441
Cathy Hume
CHF Investor Relations
Tel: +1 (416) 868 1079 ext. 251
Email: cathy@chfir.com
Charles Goodwin
Yellow Jersey PR Limited
Tel: +44 (0) 77 4778 8221
Email: copl@yellowjerseypr.com
The Common Shares are listed under the symbol "XOP" on the CSE
and under the symbol "COPL" on the London Stock Exchange.
Caution regarding forward looking statements
This news release contains forward-looking statements. The use
of any of the words "initial, "scheduled", "can", "will", "prior
to", "estimate", "anticipate", "believe", "should", "forecast",
"future", "continue", "may", "expect", and similar expressions are
intended to identify forward-looking statements. The
forward-looking statements contained herein are based on certain
key expectations and assumptions made by the Company, including,
but not limited to, the ability to raise the necessary funding for
operations, delays or changes in plans with respect to exploration
or development projects or capital expenditures. Although the
Company believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements since the
Company can give no assurance that they will prove to be correct
since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties most of which are beyond the control of Canadian
Overseas Petroleum Ltd. For example, the uncertainty of reserve
estimates, the uncertainty of estimates and projections relating to
production, cost overruns, health and safety issues, political and
environmental risks, commodity price and exchange rate
fluctuations, changes in legislation affecting the oil and gas
industry could cause actual results to vary materially from those
expressed or implied by the forward-looking information.
Forward-looking statements contained in this news release are made
as of the date hereof and Canadian Overseas Petroleum undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
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