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Follow Jamie on: Canadian Overseas Petroleum highlights truly outstanding second half “The acquisition of Atomic Oil and Gas LLC which closed in March of this year was transformative for COPL, chief executive Arthur Millholland said Canadian Overseas Petroleum Ltd (LON:COPL, TSE:XOP) described a remarkable year as it filed its full-year results. “The first half of the year was difficult, but was truly outstanding at year-end,” chief executive Arthur Millholland said in a statement. “The acquisition of Atomic Oil and Gas LLC which closed in March of this year was transformative for COPL. “In 2020 we managed to recapitalize the company which allowed for the acquisition of Atomic and the associated equity and debt financings.” ....
18 February 2021 | 08:29am StockMarketWire.com - Oil and gas company Canadian Overseas Petroleum said it had secured a four-year credit facility for up to US$65 million, paving the way to fund its $54 million acquisition of Atomic Oil and Gas. Funds from the facility would be used to pay Atomic the remaining $41 million cash component outstanding to complete the transaction, the company said. This loan will facilitate the completion of the Atomic acquisition which will be materially value enhancing to COPL, providing an immediate and growing revenue stream from day one, it added. The company is acquiring 31.1 million barrels of oil equivalent, or BOE, of reserves, from the acquisition. ....