CALGARY, AB – In accordance with the DTR 5.6.1A, Canadian Overseas Petroleum Limited (“COPL” or the “Company”) (LSE: COPL) (TSX VENTURE: XOP), the offshore West Africa focussed oil and gas exploration and development company, would like to notify the market of the following:

With effect from August 21, 2014, the Company’s issued share capital consists of 402,050,497 Common Shares of no par value each with voting rights. The increase comprises 50,555,000 Common Shares issued on August 21, 2014 pursuant to the marketed short form prospectus offering of Common Shares announced on July 29, 2014. The Company does not hold any treasury shares. Therefore, the total number of voting rights in the Company is 402,050,497.