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Press release from CNW Group

Canadian Overseas Petroleum Makes Management Changes

Tuesday, April 09, 2013

Canadian Overseas Petroleum Makes Management Changes

08:00 EDT Tuesday, April 09, 2013

CALGARY, April 9, 2013 /CNW/ - Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSXV: XOP), has appointed Christopher McLean as Chief Financial Officer effective immediately.  Mr. McLean has been a director of COPL since 2010 and was most recently the President of Stonechair Capital Corporation.  He will remain a director of the Company but has stepped down from his role as Chair of the Audit Committee. The former Chief Financial Officer, Aleksandra Owad, is now the Company's Chief Accounting Officer. The management changes reflect COPL's current needs as the Company enters a new phase of corporate development now that COPL has secured its 20% working interest in Block LB-13 Liberia.

About the Company
COPL is an oil and gas exploration company focused on oil prospects in the offshore West African continental margin and shale oil prospects onshore New Zealand.  COPL's Common Shares are listed under the symbol "XOP" on the TSX Venture Exchange.

Forward Looking Statements 
This press release may contain forward-looking statements based on COPL's current expectations and assumptions as to a number of factors including weather, regulatory approvals and general economic and industry conditions.  If those expectations and assumptions prove to be incorrect, or factors change, then actual results could differ materially from the forward-looking statements contained in this press release.

Generally, statements included in this press release that address activities, events or developments that COPL expects, believes or anticipates will or may occur in the future are forward-looking statements.  Such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond COPL's control, including: the fact that the completion of the transactions with Peppercoast and ExxonMobil are subject to conditions that may not be satisfied or waived, the impact of general economic conditions in the areas in which COPL operates, civil unrest, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities.  In addition there are risks and uncertainties associated with the oil and gas industry, therefore COPL's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amounts of proceeds, which COPL will derive therefrom.  Such statements are based on assumptions made by COPL based on its experience perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE: Canadian Overseas Petroleum Limited

For further information:

Mr. Arthur Millholland, President and CEO
Phone: 403.262.5441

Or,

Rob Elgie, Manager of Investor Relations
Phone: 403.262.5441

Or

Pelham Bell Pottinger Public Relations
James Henderson, Managing Director or Mark Antelme
Phone: +44 (0) 207 861 3160

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