{"id":42779,"title":"Canadian Overseas Petroleum’s Nigeria financing ‘coming together’","publisher":"Share Talk","author":"sharetalk","published":"2018-08-05T18:13:37+00:00","modified":"2018-08-05T18:13:37+00:00","canonical_url":"https://www.share-talk.com/canadian-overseas-petroleums-nigeria-financing-coming-together/","markdown_url":"https://www.share-talk.com/canadian-overseas-petroleums-nigeria-financing-coming-together.md","json_url":"https://www.share-talk.com/canadian-overseas-petroleums-nigeria-financing-coming-together.json","category":"Energy","categories":["Energy","Exclusive Interviews"],"tags":["Canadian Overseas Petroleum Limited","COPL"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":" \n\nArthur Millholland, chief executive of [Canadian Overseas Petroleum Limited](http://www.proactiveinvestors.co.uk/LON:COPL/Canadian-Overseas-Petroleum-Limited/) ([LON:COPL](http://www.proactiveinvestors.co.uk/LON:COPL/Canadian-Overseas-Petroleum-Limited/) CVE:XOP), discusses with Proactive’s Andrew Scott the progress being made towards financing the development of the OPL226 licence offshore Nigeria.\n\nCOPL’s  50% owned joint venture company Shorecan has agreed to a project financing and offtake agreement term sheet for between US$30mln to US$50mln with Mauritius Commercial Bank and commodities trading group Trafigura.\n\nThe facility would cover expenses after an initial production well has been drilled and tested by ShoreCan’s 80% owned affiliate Essar Nigeria."}