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Investegate announcements from Canadian OSeas Petr, Term Sheet for US$65m Senior Credit Facility

Canadian Overseas Petroleum secures up to USD65 million Senior Credit Facility 21 Jan 2021 The Company has signed a Term Sheet for a US$65 million Senior Credit Facility with a US based Global Investment Firm to finance the closing of its acquisition of Atomic Oil and Gas and its related entities announced on December 16, 2020. The facility has a term of four years and is subject to typical lending conditions through its term. The Facility has a base size of $45 million, with an additional, o...

·    Two operated oil fields in Wyoming, USA at start of their 40+ year life ·    ROI over 50% with $2.18/bbl acquisition cost vs a value of $7.52/bbl at NPV (10%)   Calgary, Canada; London, United Kingdom; December 16, 2020 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration and development company, today announces that it has agreed to acquire Atomic Oil & Gas LLC ("Atomic") for a consideration of US$54 mi...