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Canadian Overseas Petroleum closes C$6 million common share offering

Date Closed

July 25, 2013

Lead Office

Calgary

Value

6.00 Million CAD

On July 25, 2013, Canadian Overseas Petroleum Limited (COPL or the Company), closed its previously announced marketed offering (the Offering) of common shares in the capital of the Company. Pursuant to the offering, the Company issued an aggregate 30 million common shares at C$0.20 per share for aggregate gross proceeds of C$6 million.

The Offering was led by FirstEnergy Capital Corp. on behalf of a syndicate of agents including Canaccord Genuity Corp. and GMP Securities L.P.

COPL, headquartered in Calgary, Alberta, is an international oil and gas exploration and development company focused on oil and gas exploration activities offshore of the Republic of Liberia.

McCarthy Tétrault LLP represented COPL, the issuer, with a team led by Sony Gill.