LSE: COPLTSXV: XOP

May 2015

COPL was recognized as a TSX Venture 50® company in 2014. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

DisclaimerThis document and its contents, the presentation and any related materials and their contentshave been prepared by Canadian Overseas Petroleum Limited (“COPL” or “the Company”) forinformation purposes only, solely for the use at this presentation and must be treated as strictlyprivate and confidential by attendees of such presentation and must not be reproduced,redistributed, passed on or otherwise disclosed, directly or indirectly, to any other person orpublished, in whole or in part by any medium or in any form, for any purpose.

Nothing in this document, the presentation and any related materials is intended as, constitutesor forms part of an offer or invitation to sell or issue, or any solicitation of any offer to purchaseor subscribe for any COPL securities, nor shall they or any part of them nor the fact of theirdistribution form the basis of, or be relied upon in connection with, any contract or commitmentwhatsoever in relation thereto. No investment decision should be made on the basis of and noreliance may be placed for any purposes whatsoever on the information contained in thisdocument and/or related materials or given at this presentation, nor on the completeness ofsuch information.

Certain industry and market information in this document and/or related materials and/or givenat the presentation has been obtained by the Company from third party sources. The Companyhas exercised reasonable care in preparing this document (and in confirming that where anyinformation or opinion in this document is from or based on a third party source, that the sourceis accurate and reliable). However, to the fullest extent permitted by law, no representation orwarranty, express or implied, is given by or on behalf of the Company, any of its directors,affiliates, agents or advisers (together, the “Identified Persons”) or any other person as to theaccuracy or completeness of the information or opinions given at the presentation or containedin this document and/or related materials.

The Company has not independently verified the information contained in this document andnone of the Identified Persons or any other person bears responsibility or liability for norprovides any assurance as to the fairness, accuracy, adequacy, completeness or correctness ofany such information or opinions contained in this document (including information provided bythird parties), nor as to the reasonableness of projections, targets, estimates or forecasts nor asto whether any such projections, targets, estimates or forecasts are achievable.

Without prejudice to the foregoing, neither the Company nor the Identified Persons shall haveany liability whatsoever (in negligence or otherwise) for any loss howsoever arising, directly orindirectly, from any use of this document, its contents or otherwise arising in connection withthis document.

The information set out herein and in any related materials and given at the presentation issubject to updating, completion, revision, verification and amendment, and such informationmay change materially. Forward-looking statements speak only as at the date of thispresentation and each of the Identified Persons expressly disclaims and is under no obligation to

update, revise or keep current the information contained in this presentation, to correct anyinaccuracies which may become apparent, or to publicly announce the result of any revision tothe statements made herein (including in the forward-looking statements) except to the extentthey would be required to do so under applicable law or regulation, and any opinions expressedherein, in any related materials or given at the presentation are subject to change withoutnotice.

This document, the presentation and any related materials may include certain forward-lookingstatements, beliefs or opinions which reflect management’s current views with respect to thebusiness, financial prospects and condition of the Company, including its anticipated financial oroperating performance and cash flows, plans, objectives and expectations related to existing andfuture operations of the Company, the performance characteristics of the Company’s properties,the Company’s potential production levels, exploration work and development plans, thereserve and resource potential of the Company’s license areas and strategies, objectives, goalsand targets of the Company and/or its group. Forward-looking statements are sometimesidentified by the use of forward-looking terminology such as "believes", "expects", "may", "will","could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues","assumes", "positions" or "anticipates" or the negative thereof, other variations thereon orcomparable terminology.

No person should rely on these forward-looking statements because they involve known andunknown risks, uncertainties and other factors which are, in many cases, beyond the control ofmanagement and because they relate to events and depend on circumstances that will occur inthe future which may cause the Company’s actual results, performance or achievements to differmaterially from anticipated future results, performance or achievements expressed or implied bysuch forward-looking statements. Prospective investors should carefully consider, among otherthings, the cautionary note regarding forward looking statements and the risk factors set out inCOPL’s annual information form for the year ended December 31, 2013 dated April 16, 2014.

In making the forward-looking statements in this presentation, the Company has also madeassumptions regarding the timing and results of exploration activities; the enforceability of theCompany’s contracts; the costs of expenditures to be made by the Company; future crude oilprices; access to local and international markets for future crude oil production, if any; theCompany’s ability to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; the political situation and stability in the jurisdictions in which the Companyoperates; the regulatory, legal and political framework governing the such contracts, royalties,taxes and environmental matters in the jurisdictions in which the Company conducts and willconduct its business and the interpretation of applicable laws; the ability to renew its licenses onattractive terms; the Company’s future production levels; the applicability of technologies for therecovery and production of the Company’s oil resources; operating costs; availability ofequipment and qualified contractors and personnel; the Company’s future capital expenditures;future sources of funding for the Company’s capital program; the Company’s future debt levels;geological and engineering estimates in respect of the Company’s resources; the geography ofthe area in which the Company is conducting exploration and development activities; the impactof increasing competition on the Company; and the ability of the Company to obtain financing,and if obtained, to obtain acceptable terms. Although the Company considers the assumptionsthat it has utilized to be based on reliable information, such forward-looking statements arebased on a number of assumptions which may prove to be incorrect.

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Disclaimer (continued)None of the Company or its advisers or representatives, including the relevant IdentifiedPersons, accept any obligation to update any forward-looking statements set forth herein or toadjust them to future events or developments. Further, this presentation contains market, priceand performance data which have been obtained from Company and public sources. TheCompany reasonably believes that such information is accurate as of the date of thispresentation. The information contained in this document has not been independently verifiedand no representation or warranty, express or implied, is made as to, and no reliance should beplaced on, the fairness, accuracy, completeness or correctness of the information or opinionscontained herein.

Nothing in this document constitutes or should be relied upon by a recipient or its advisors as apromise or representation as to the future or as to past or future performance. Norepresentation is made that any of these statements or forecasts will come to pass or that anyforecast results will be achieved. There are a number of factors that could cause actual resultsand developments to differ materially from those expressed or implied by these statements andforecasts. Past performance of the Company is not necessarily indicative of and cannot be reliedon as a guide to future performance. No statement in this document or any related materials orgiven at this presentation is intended as a profit forecast or a profit estimate and no statement inthis document or any related materials or given at this presentation should be interpreted tomean that earnings per share for the current or future financial periods would necessarily matchor exceed historical published earnings per share. As a result, you are cautioned not to place anyundue reliance on such forward-looking statements.

The Company reserves the right to terminate discussions with any recipient in its sole andabsolute discretion at any time and without notice. No person is authorised to give anyinformation or to make any representation not contained in and not consistent with thisdocument and any such information or representation must not be relied upon and has not beenauthorised by or on behalf of the Company.

This document is given in conjunction with an oral presentation and should not be taken out ofcontext.

In this presentation, the Company has provided information with respect to certain resourceinformation that is based on oil discovery information for lands surrounding its properties whichis "analogous information" as defined applicable securities laws. This analogous information isderived from publicly available information sources which the Company believes arepredominantly independent in nature. However, the Company cannot guarantee that suchinformation was independently prepared. In addition, some of this data may not have beenprepared by qualified reserves evaluators or auditors and the preparation of any estimates maynot be in strict accordance with Canadian Oil & Gas Evaluation Handbook. Regardless, estimatesby engineering and geo-technical practitioners may vary and the differences may be significant.The Company believes that the provision of this analogous information is relevant to theCompany's activities, given its acreage position and operations (either ongoing or planned) in thearea in question, however, readers are cautioned that there is no certainty that any of thedevelopment on the Company's properties will be successful to the extent in which operationson the lands in which the analogous information is derived from were successful, or at all.

Barrel of oil equivalent ("BOE") amounts may be misleading, particularly if used in isolation. ABOE conversion ratio has been calculated using a conversion rate of six thousand cubic feet ofnatural gas to one barrel. This conversion ratio of six thousand cubic feet of natural gas to onebarrel is based on an energy equivalency conversion method primarily applicable at the burnertip and does not represent a value equivalency at the wellhead.

In this presentation, the Company has referred to OOIP, meaning original oil in place and originalgas in place, respectively, which are hereinafter collectively called "discovered petroleuminitially-in-place". Discovered petroleum initially-in-place is the quantity of petroleum that isestimated, as of a given date, to be contained in known accumulations prior to production. Therecoverable portion of discovered petroleum-in-place includes production, reserves andcontingent resources; the remainder is unrecoverable. A recovery project cannot be defined forthese volumes of discovered petroleum initially-in-place at this time. There is no certainty that itwill be commercially viable to produce any portion of the resources. Additionally, in respect ofthe prospective resources disclosed in this presentation, there is no certainty that any portion ofthe resources will be discovered. If discovered, there is no certainty that it will be commerciallyviable to produce any portion of the resources.

By attending this presentation and/or accepting a copy of this document and/or any relatedmaterials, you agree to be bound by the foregoing provisions, limitations and conditions and, inparticular, you have represented, warranted and undertaken that: (i) you have read and agree tocomply with the contents of this disclaimer including, without limitation the obligation to keepthe information given at the presentation and this document and its contents confidential; and(ii) you will not at any time have any discussion, correspondence or contact concerning theinformation given at the presentation and/or in this document with any of the directors oremployees of the Company or its subsidiaries nor with any of its suppliers, or any governmentalor regulatory body without the prior written consent of the Company.

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Presentation Team

Arthur Millholland

Christopher McLean

• Founder of Stonechair Capital and an active participant in venture capital projects for the last 10 years

• Previously Head of Capital Markets and Investment Banking at Wolverton Securities, a resource focused boutique investment bank

• Financed public and private projects in Africa, Europe, South and North America and Australia

• Currently Chairman, Octant Energy Corp. (TSXV)

• Professional geologist with over 30 years experience in the oil and gas industry

• President and CEO of Canadian Overseas Petroleum since 2009

• Previously founder and CEO of Oilexco from 1994 till 2009

• Worked in a variety of regions including the UK North Sea, Canada, the Gulf of Mexico, the United States, South America and West and North Africa

President, CEO and Director

CFO and Director

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AfricanBusiness

Development

Building a Africa Portfolio Strategy

• Leverage management expertise and experience to grow its footprint via its joint venture with Shoreline through Shoreline CanOverseas Petroleum Development Corporation

• Partner with local indigenous companies to gain entry to the country on a ground floor basis or Partner with other West African operators to explore for, appraise and/or develop projects

• Preference for prospects offering near term cash flow potential or ability to provide technical partnership

• Focus on desirable exploration and development prospects that exhibit similar seismic and geological characteristics to nearby existing discoveries or producing fields

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Regional OpportunityWest Africa

East AfricaKenya

Tanzania

Mozambique

Madagascar

discoveries

• Large oil and gas discoveries in the past five years

• Significant interest from oil majors

• Remains relatively underexplored

• Numerous marginal field development opportunities and undeveloped oil discoveries in the Nigerian offshore

• Significant natural gas discoveries offshore in the pastfive years

• Opportunities to monetize small discoveries and low riskexploration targets onshore and in shallow water to localmarkets through gas to power schemes and supply tolocal industry

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COPL / Shoreline Joint Venture

COPL / Shoreline Joint Venture

Structure• Joint venture partnership with Shoreline Energy International Limited (“Shoreline”), a conglomerate with interests

across sub-Saharan Africa including interests in oil & gas and power generation

• JV will acquire assets through a special purpose vehicle registered in Bermuda, called Shoreline CanOverseasPetroleum Development Corporation Limited (“ShoreCan”)

• COPL and Shoreline each hold a 50% interest in ShoreCan

• Shoreline’s interest in OML 30 in Nigeria and COPL’s interest in LB-13 in Liberia are outside of the JV

Rationale & Strategy • The JV allows COPL to progress its stated strategy, offering exposure to a greater spread of highly value accretive

assets and opportunities, while minimising risk and capital requirements for shareholders

• The JV will acquire upstream oil & gas exploration, development and producing assets in sub-Saharan Africa, as well as gas to power projects to monetize hereto stranded natural gas

Assets• To date, ShoreCan has taken positions in Tanzania and Namibia, and continues to evaluate a variety of assets in

Nigeria, Ghana, and Mozambique amongst other countries

Shoreline Canadian Overseas Corporate Structure

Directors• Kola Karim - Chief Executive Officer SG

• Tunde Karim - Chief Financial Officer SG

• Arthur Millholland - Chief Executive Officer COPL

• Viscount William Astor - Non-Exec Director COPL

Technical Team • Canadian Overseas Petroleum Technical Services

Inc., a wholly owned subsidiary of Canadian Overseas Petroleum Limited, a company incorporated under the laws of Canada

Shoreline CanoverseasPetroleum Development

Corporation (“ShoreCan”)

50% 50%

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JV Assets

Tanzania• Option Agreement to acquire a 60% working interest in two

offshore blocks:• the Latham Licence Area (5056 km2) • Kimbiji Licence Area (4298 km2) • Blocks extend from the shore to offshore depths of

approximately 500 to 1000 meters

• On exercise of the Option and receipt of approval from the appropriate Tanzanian authorities, ShoreCan will assume operatorship of the offshore blocks

• ShoreCan currently evaluating historic 2D seismic and regional information

• License areas are located immediately east of Dar esSalaam, the principle Tanzanian gas market

• Kimbiji License has a drill ready prospect (Kisarawe East) onshore 15 km north of the Mkuranga-1 well which tested gas at the rate of 19.7 mmcfd from the thin Upper Cretaceous Sakura zone

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Tanzania: Latham Block

13

Tanzania: Kambiji Block, Kisarawe East Prospect

14

Namibia: Blocks 1708, 1709, 1808

(Blocks 1708, 1709, 1808)

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Namibia: Blocks 1708, 1709, 1808• 80% interest acquired in three

offshore blocks: 1708, 1808, and 1709

• Shorecan’s interest has been ratified by the Ministry of Energy in Namibia

• The blocks are located north of the Walvis ridge on the Namibian/Angolan border at the southern end of the Namibe Basin

• Namibe Basin is the conjugate basin to the Santos Basin

• Jubarte, Carioca, Tupi, etc. discoveries in the Santos Basin (subsalt)

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Namibia: Blocks 1708, 1709, 1808

• Organic matter raining down onto sea floor is not oxidized in “anoxic” environments

• Anoxic environment preserved organic muds that later became source rock shales –particularly in “yoked basins”

• Blocks 1708, 1709, 1808 are located within the Namibe “yoked basin” – conjugate basin to prolific Santos basin

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Liberia LB-13

COPL’s High Impact Exploration

Regional Overview

Senegal • Fortesa announce Turonian gas

condensate discovery• Cairn 2 announced light oil

discoveries in 2014 with partners ConocoPhillips and FAR Limited.

Sierra Leone • Total 6 DW wells drilled to date• 4 Discoveries (Venus, Mercury,

Jupiter by Anadarko, and recent Lukoil discovery)

• Mercury Appraisal disappointing

Guinea • Hyperdynamics Sabu-1 well P&A

oil shows• Drilling 2014 with Tullow Oil

Liberia • Total 6 DW wells drilled to date• Recognised explorers operating

in-country• Anadarko drilling on LB-10 in

2014• Chevron drilled on LB-12 in 2014

Cote D’Ivoire • Total 8 DW wells drilled to date• 5 Discoveries

Ghana • 10 DW wells drilled in recent years,• 11 Discoveries in country• Jubilee (on production); Tweneboa, Enyenra,

Ntomme, Teak (under development)

200 km

• Estimated 5.0 Billion BO discovered in the West Africa Transform Margin in only 5 years of exploration

• Ghana’s Jubilee Field on production at approximately 110,000 BOPD

• Significant discoveries in Sierra Leone, Liberia and Cote d’Ivoire

• Global hotspot – major international oil companies –ExxonMobil, Chevron, Total, ENI and leading explorers: Anadarko, Tullow

Jubilee/TEN Area Discoveries

Venus, Jupiter, Mercury Discoveries

Narina Discovery200 km

Saphir-1XB Discovery

Montserrado-1

LB-13

LB-12(Chevron)Carmine-1 Well (2012)

Goshtern-1 (drilling)

Cairn Conoco Phillips Discoveries

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Liberia Overview

Venus, Jupiter & Mercury discoveries by Anadarko

Narina discovery by African Petroleum

Politics• Peace agreement signed in 2003• Democratic elections held in 2005

– President Ellen Johnson Sirleaf elected – Re-elected in 2011

• Ranked above neighbouring Sierra Leone and Cote D’Ivoire in Transparency International’s Corruption Perception Index

Geological• Two petroleum systems in the offshore Liberian basin

– Early Cretaceous – Late Cretaceous

Oil & Gas Industry• The Liberian state oil company NOCAL regulates the oil industry• Numerous major oil industry players operating in-country• Deepwater LB-11 and LB-12 blocks drilled by Chevron in 2012

• Anadarko drilling on LB-10 • Chevron drilled on LB-12 (remain as tight holes)

Other in Country Drilling for 2014

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Liberia Block LB-13 - License OverviewOwnership

• 17% COPL and 83% Exxon (operator)• NOCAL has the right to receive a 10% participating interest at the start of commercial

production

Licence Terms• New amended and restated PSC ratified by the Liberian Government • Valid for three years from 1 April 2013 - Option to renew for a further two years• Minimum work commitment of one exploration well in the current Phase and one well in the

Option Phase

Block HistoryMay 2007

• LB-13 PSC awarded to Peppercoast Petroleum (PCP) April 2013

• Government of Liberia (GOL) retracted original PSC from PCP• GOL ratified a new PSC to Exxon and COPL • Interests in Block LB-13 are:- Exxon 83%- COPL 17%• As part of the due diligence on Block LB-13 between 2011 and 2013, COPL invested $25

million on 3D seismic, legal general costs

JV Terms • ExxonMobil paid $127m in costs• COPL carried by ExxonMobil for:- $120m of gross drilling costs- All other JV costs capped at $1m run off until 100% of all drilling costs have been completed

LB - 13 Prospect Overview*

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Geology• Seismic has identified a deep water Turonian to Lower Campanian Turbidite

Channel/Fan complex

• Basic and Advanced Seismic AVO techniques indicate the potential presence of hydrocarbons in multiple zones over an area of 180 sq. km

• Encouraging slumping features seen around the pinchout points on many of the channels and fans - Strong similarities to other turbidite sand reservoir oil fields offshore Angola, where

slumping has created a seal

• Continental slope less steep towards Sierra Leone and towards the south- Could imply lower clay content in the sediment - Also helpful when forming the pinchout point

Detailed Technical Work• Used Extended Elastic Impedance (EEI)technology

- More advanced than traditional AVO technology- Allows different aspects of the rock, whether this be rock type (lithology), porosity,

fluid content, saturation to be seen

• Work has demonstrated that the block holds a number of channel features and fans which tie in with EEI anomalies associated with “sand” lithology, and with “oil” fluid content

Geological Overview - Liberia Block LB-13

¹DeGolyer & MacNaughton , September, 1, 2014

4,238.6 720.6

2,643.7 449.4

P10 P10

P50 P50

Prospective Recoverable Resources on LB-13 (Mmbbls)

Gross1 Net to COPL

1,797.8 305.6

P90 P90

Notes:1. Low, Best, and High estimates follow the NI 51-101 guidelines for prospective resources.2. Low, Best, and High estimates in this table are P90, P50, and P10 respectively.3. Application of any geological and economic chance factor does not equate prospective resources to contingent resources or reserves.4. Recovery efficiency is applied to prospective resources in this table.5. Summations may vary from those shown here due to rounding.6. There is no certainty that any portion of the prospective resources estimated herein will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the prospective resources evaluated.

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Liberia: Block LB-13 Primary ProspectTuronian to Intra Campanian Channel/Fan Complex (multiple fans vertically stacked)

POSSIBLE FLUID CONTACT

Updip Pinchout

Seismic Data Courtesy of TGS

SW NE

Slump “squashes” updip pinchout

(COPL Interpretation)

Extended Elastic Impedance (EEI) 20°. Seismic AVO techniquehighlights sands filled with oil. (AVO work conducted by Ikon Science, London UK)

40 km

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Block LB-13 – Secondary prospect*

LB-12

LB - 12, 13 “Fali Channel” Prospect Overview

Full stack RMS amplitude extraction in a 200ms window down from Top Cretaceous

LB-13

• August 2012, Chevron enters a purchase and sale agreement where ENI acquires 25% interest in LB-11, 12, 14 -- after Carmine-1 well is drilled on LB-12

• Chevron opens supply base after first well- New drill ship from

Seadrill commissioned- Chevron drilled the

Goshtern-1 well on LB-12 in April 2014

• Other information claims a Santonian discovery at Carmine-1 well

Lead 5

*COPL interpretation

ChevronCarmine-1 (2012)

30 km

ChevronGoshtern-1

(2014)

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Conclusion

High Impact Drilling

Super Major Partner

Technical Expertise

DualListing

• Targeting high impact exploration on Block LB-13 in Liberia- P50 Prospective Recoverable Resources 2,643mmbbl- Drilling a well, in partnership with ExxonMobil

• Chevron and Anadarko drilled wells on adjacent blocks in 2014

• ExxonMobil paid $127m costs committed to carry COPL costs through the first $120m gross drilling cost for an 83% interest

- A strong endorsement of the acreage- Provides financial backing and additional technical expertise

• COPL and Shoreline each hold a 50% interest in ShoreCan• The JV allows COPL to progress its stated strategy, offering exposure to a greater spread of highly

value accretive assets and opportunities, while minimising risk and capital requirements for shareholders

• London Stock Exchange and TSX-V• Expanded shareholder base with an increased access to capital

Shoreline JV

• Strong technical expertise• Offshore team have drilled over 120 wells• Shareholder value created through prospect generation

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Appendix

Building a West Africa Portfolio

Numerous marginal field development opportunities and

undeveloped oil discoveries

Ghana

Côte d’Ivoire

NigeriaSierraLeone

Gabon

discoveries

The West African Transform Margin Fairway

Cenomanian – Turonian (91 Ma)

South America and Africa separated

• Extinction event – low O2 in oceans• Rapid drowning of West African Transform

Margin created ideal conditions for Cenomanian source rock beds

• Cenomanian is the primary source rock interval – very rich

• Creation of transform margin basins as well as onshore river systems led to large turbidite fan/channels complexes in deep water in late Cretaceous

• Continued subsidence and extension resulted in deposition of sealing shales

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The West African Transform Margin Fairway

29

Clastic wedge with updip pinchout

The West African Transform Margin Fairway

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LB-13: Asset SummaryPortfolio of Prospective Recoverable Oil Resources (Exploration)

Prospective Recoverable Resources (Net mm BBL)

Prospective Recoverable Resources (Gross mm BBL)

P90 P50 P10

Liberia LB-13(1) 1,797.8 2,643.7 4,238.6

P90 P50 P10

Liberia LB-13 305.6 449.4 720.6

(1) From a Report prepared by DeGolyer & MacNaughton: September 1, 2014

Notes:1. Low, Best, and High estimates follow the NI 51-101 guidelines for prospective resources.2. Low, Best, and High estimates in this table are P90, P50, and P10 respectively.3. Application of any geological and economic chance factor does not equate prospective resources to contingent resources or reserves.4. Recovery efficiency is applied to prospective resources in this table.5. Summations may vary from those shown here due to rounding.6. There is no certainty that any portion of the prospective resources estimated herein will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the prospective resources evaluated.

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Liberia LB-13 Primary Prospects

C1

C4

C3

C2

D9

D7 D8

D6

E11

E10

E15

F16

E12

N

Oblique View

A B

Liberia LB-13 Secondary Prospects

B4

B7

B3

B2 B1

B6

B5

B8

B9B10

N

C

Building an East Africa Portfolio

Significant opportunity for gas to power schemes in local

markets to monetize reserves

Kenya

Tanzania

MozambiqueZambia

Zimbabwe Madagascar

discoveries

Principle East African Sedimentary Basins

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Tanzania: Natural Gas Discoveries

36

Tanzania: Natural Gas Distribution

37

Mozambique

180 TcfAnadarko and

ENI discoveries

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Mozambique: Pande Gas Field

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Board & Management

Kristin ObreiterController

Viscount William AstorIndependent Director

Harald LudwigIndependent Director,Chairman of the Board

Massimo CarelloIndependent Director

Rick SchmittIndependent Director

Arthur MillhollandExec Director, President and CEO

Christopher McLean Exec. Director, CFO

Board

Management

Norman DeansV.P. Operations

Rod ChristensenV.P. Exploration

Nick PillarManager Geophysics

Ken HalwardManager Reservoir Development

Dr. Richard MaysV.P. Business Development &

Counsel

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Executive Board

Director, President and CEO• Was the founder, CEO and a Director of Oilexco Inc.• Professional geologist with 30 years experience in the oil and gas industry • Worked in a variety of regions including the UK North Sea, Canada, Gulf of Mexico, USA, South

America and West and North Africa

Arthur Millholland

Director, CFO• Founder of Stonechair Capital and active in venture capital projects for the last 15 years• Financed public and private exploration projects in Africa, Europe, South and North America and

Australia• A former Head of Investment Banking and Sales• Currently Chairman, Octant Energy Corp. (TSXV)

Christopher McLean

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Non Executive Board

Independent Director & Chairman of the Board• President of Macluan Capital Corporation, a diversified private equity investment company• Director of Lions Gate Entertainment Corp (NYSE), Seaspan (NYSE), West Fraser Timber (TSX)• Serves as a member of the advisory Board of Tennenbaum Capital Partners, LLC.

Harald Ludwig

Independent Director• Mr Carello has over 30 years of international senior management and board level experience• Director of Orsu Metals Corp (TSX) and Canaccord Financial Inc. (TSX, LSE)• Previously a Director of Uranium One, Urasia Energy Ltd, Anker plc and President and CEO of Diners UK Ltd.

Massimo Carello

Independent Director• Petroleum Geologist with over 34 years international experience in upstream oil and gas • Held senior technical management and executive positions with Occidental over a 20 year period • Founding President of Africa Oil • Currently CEO and Director of Octant Energy (TSXV), and is a Director of Wentworth Resources (TSX, LSE)

Rick Schmitt

Independent Director• Director of Networkers plc (AIM), Tavistock Investments plc (AIM), Silvergate Media Ltd (UK Private) and

formerly Chorion plc (until 2011)• Viscount Astor sits as an elected hereditary peer in the UK House of Lords

Viscount William Astor

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Vice President, Operations• Qualified Drilling Engineer with 20 years in industry, the last 4 years as Drilling Manager• Career includes staff positions with Majors such as Chevron and also Independents such as Oilexco

Norman Deans

Sr. Management Team

Dr. Richard Mays • Extensive Legal, Commercial, Oil and Gas experienced over 30 years• Previously Executive Chairman of Blackstar Petroleum and Peppercoast Petroleum• Former Professor in Law and Depute Dean at Aberdeen Business School

Vice President Business Development & General Counsel

Vice President Exploration and Exploitation• Professional Geologist with 35 years experience• Previously Senior VP, Exploration and Development at Oilexco• Involved in numerous discoveries and appraisals in the UK Central North Sea

Rod Christensen

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Management Team

Manager Reservoir Development• Former VP of reservoir development for Oilexco, played a key role in developing Brenda and Nicol fields• Over 30 years of diversified experience in Canada, UK North Sea and North Africa including Liberia• Prior to joining Oilexco in 2005, Ken held a variety of technical and supervisory positions at Imperial Oil,

Wascana Energy, Alberta Energy Company, and the Arabian Gulf Oil Company (AGOCO)

Ken Halward

Manager Geophysics• Geoscientist with a BSc in Applied Geology and over 30 years of experience in the oil industry• Chief Geophysicist at Enterprise prior being taken over by Shell• Joined Ikonscience, a niche rock physics software and service company as Operations Director • He left Ikonscience in 2009 to pursue a consulting career prior to joining COPL in 2011

Nick Pillar

Kristin Obreiter • Chartered Accountant with a Bachelor of Commerce, Accounting from University of Calgary• Spent 4 years as an auditor• Kristin has spent the last 10 years working with international oil and gas firms

Controller

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Corporate Share Structure

402,050,497 Common Shares• Primary listing on Toronto Venture Exchange

• TSXV:XOP• TSXV:XOP.wt

• Secondary Listing on London Stock Exchange• LSE:COPL

Common Shares

Options• Management, Board, and Employees• 8% of option pool issued from $1.20 to $0.23

Warrants• 888,889 agents warrants at 13.5 pence• 50,555,000 warrants at $0.40 (warrants are listed on TSXV)

Options and Warrants

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For further information please contactCanadian Overseas Petroleum Limited

Arthur MillhollandChristopher McLean

+1 403 262 5441

amillholland@canoverseas.comcmclean@canoverseas.com

Financial Adviser and Joint Broker -GMP Securities Europe LLP

Rob CollinsEmily Morris

Joint Broker - finnCap Limited

Simon JohnsonMatt Goode

+44 (0)207 647 2800

rob.collins@gmpeurope.comemily.morris@gmpeurope.com

+44 (0)20 7220 0500

sjohnson@finncap.commgoode@finncap.com

Investor Relations and PR:Bell PottingerHenry Lerwill

CHF Investor RelationsRobin Cook

+44 (0)20 3882 2500hlerwill@bellpottinger.com

+1 (416) 868 1079 ext. 228 robin@chfir.com

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