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EXPOSE: Canadian Overseas Petroleum - once again hiding the grim truth from its shareholders

By Evil Banksta | Tuesday 10 January 2023


Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Last year ShareProphets highlighted how standard listed Canadian Overseas Petroleum Limited (COPL) had defaulted on its main credit agreement but then raised $8 million of fresh equity at 20p a share without revealing the default to prospective investors. Canadian hid the default for four months before it finally published its annual accounts and buried the details of the default in the notes.
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