Canadian Overseas Petroleum "Encouraged" by Liberian Official's Remarks About Block LB-13; Shares Up 40% Early Afternoon
Canadian Overseas Petroleum Limited (XOP.V), today acknowledged statements made by the Chief Executive Officer of the National Oil Company of Liberia yesterday, relating to the proposed acquisition of a significant interest in offshore Liberia Block LB-13 by a wholly-owned subsidiary of XOP.
The parties are in the process of executing the relevant documents and XOP is encouraged by this development. XOP said it hopes to be in a position to provide further news shortly.
Shares are up 6 cents (40%) to 21 cents. Volume traded is 2.38 million.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
