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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (793)	4/5/2013 10:26:27 AM
From: Goose94	Read Replies (1) of 202862

Canadian Overseas Petroleum (XOP-V) closes LB-13 interest acquisition April 5, 2013 - News Release Canadian Overseas Petroleum Ltd. has closed and completed the previously announced transactions between the company's wholly owned subsidiary, Canadian Overseas Petroleum Bermuda Ltd., first with Peppercoast Petroleum PLC, and second with ExxonMobil Exploration and Production Liberia Ltd. COPL now has a 20-per-cent working interest in block LB-13, with ExxonMobil the operator, having an 80-per-cent working interest. The closing of the transaction follows the ratification of the production sharing contract by the Liberian legislature, consisting of the Senate and the House of Representatives, which ratified the contract without making any amendments. Arthur Millholland, president and chief executive officer of COPL, commented: "We are very pleased to be announcing the closing of this transaction for the block LB-13 PSC. This is a significant step in realizing the great opportunity for our shareholders and the citizens of Liberia. We look forward to working with ExxonMobil to move the project forward as we plan the exploration activities offshore Liberia."

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