Mr. Tom Richardson reports

CANADIAN OVERSEAS PETROLEUM LTD ANNOUNCES SHARE PRICE MOVEMENT

Canadian Overseas Petroleum Ltd. is commenting on recent movements in the price of its common shares.

Other than those circumstances disclosed by the company in recent weeks, the company is not aware of any operational or corporate reason for the price movement. The equity financing arranged by the company on Dec. 29, 2023, is expected to close next week on the terms that were announced.

About Canadian Overseas Petroleum Ltd.

Canadian Overseas Petroleum is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States, with operations in Converse county, Wyoming.

We seek Safe Harbor.