---
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"
date: 2018-08-05
canonical: "https://www.share-talk.com/canadian-overseas-petroleums-nigeria-financing-coming-together/"
category: "Energy"
categories: ["Energy", "Exclusive Interviews"]
tags: ["Canadian Overseas Petroleum Limited", "COPL"]
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"
---

# Canadian Overseas Petroleum’s Nigeria financing ‘coming together’

**Published:** August 5, 2018
**Author:** sharetalk
**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)

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Arthur 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.

COPL’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.

The facility would cover expenses after an initial production well has been drilled and tested by ShoreCan’s 80% owned affiliate Essar Nigeria.

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