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Canadian Overseas Petroleum hails 'exceptional' move to accelerate acquisition of Atomic Oil and Gas

Published: 11:16 21 Jan 2021 EST

Canadian Overseas Petroleum Ltd's (LON:COPL) Arthur Millholland talks Proactive London through the inked a term sheet for US$65mln of debt financing that will facilitate its acquisition of US onshore producer Atomic Oil and Gas LLC.

The arrangement, for a senior credit facility, is with a US-based global investment firm. It will have a four-year duration and COPL described the terms as competitive whilst noting that it is subject to typical lending conditions.

Canadian Overseas Petroleum reaches financing deal on favorable terms to...

Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP) chief executive Arthur Millholland joined Proactive's Stephen Gunnion with the news that the company has signed financing needed to close the acquisition of Cuda Energy, an oil and gas producer currently in receivership. Millholland told...

on 07/22/2022