The Common Shares are listed under the symbol 'XOP' on the CSE and under the symbol 'COPL
' on the London Stock Exchange.
's response stated that the company was "aware of the allegations concerning Peppercoast's minority shareholders." However, the company's due diligence 'found credible evidence that the allegations of impropriety were entirely false,' including that former Liberian officials held Peppercoast shares, and took steps to ensure only the company's named shareholders received payments.
's technical team has identified a drilling location, which will be an offset to an oil discovery made in 2001 by a previous contract holder.
The group presently comprises of CC, COPL
and Crescent Chemsol Pvt Ltd (CCPL).
expects to bring three to four appraisal wells at OPL 226 onto production at a forecast rate of 6-10,000 bpd per well by the end of 2020.
It said COPL
did, saying its due diligence showed that there were no legal problems with the deal, that Mason did not hold shares in BCP, shareholders certified they held no interest for others, and that it received legal advice on its anti-corruption and anti-money laundering obligations.
Shoreline's interest in OML 30 in Nigeria and COPL
's interest in LB-13 in Liberia are outside of the joint venture relationship.
ExxonMobil is the operator of LB-13 in which COPL
has a 20% interest.