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COPL committed to completing Liberia programme

By BFN News | 08:46 AM | Thursday 27 November, 2014


Canadian Overseas Petroleum Limited has confirmed that a work programme in Liberia will resume once the Ebola crisis is resolved. COPL says it and its partner, ExxonMobil, remain committed to completing their work programme and obligations under the LB 13 amended and restated production sharing contract dated 31 March 2013 when the situation in Liberia improves. An update says: "NOCAL and ExxonMobil, the operator, continue to meet regularly to discuss CSR activities and the fulfillment of the LB 13 work programme. As part of that interaction process, the government of Liberia has provided its assurances that it will act under the terms of the PSC to provide NOCAL and ExxonMobil sufficient time to complete its work programme, extending the current exploration period if necessary. COPL will provide further information as future events may require." COPL president and chief executive Arthur Millholland added: "We are deeply concerned for the people of Liberia as they work to overcome Ebola with the help of the international community. LB-13 is a foundation asset for the company and we look forward to returning to Liberia soon to complete exciting work already begun. "The delays we are experiencing should not be considered a reflection on the prospectivity of LB-13, nor the desire of those involved to complete the drilling of the exploration well required under this phase of the PSC." At 8:46am: (LON:COPL) Canadian Overseas Petroleum Limited Com Shs Npv share price was 0p at 5.5p Story provided by StockMarketWire.com

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