London, United Kingdom; Calgary, Canada: May 20, 2022 - Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona Counties, Wyoming, USA, will hold an investor presentation and live Q&A session on Monday, 23 May at 4:30pm UK via the Investor Meet Company Platform.

The presentation by Arthur Millholland (CEO) and Ryan Gaffney (CFO) is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and "add to meet" Canadian Overseas Petroleum Limited via: https://www.investormeetcompany.com/canadian-overseas-petroleum-limited/register-investor.

Investors who already follow Canadian Overseas Petroleum Limited on the Investor Meet Company platform will automatically be invited.

·    Investors are encouraged to submit questions pre-event via the "Ask a Question" function located on the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation

·   Whilst the Company will not be in a position to answer every question it receives, it will address the most prominent within the confines of information already disclosed to the market through regulatory notifications

·    Responses to the Q&A will be published at the earliest opportunity on the Investor Meet Company platform following the presentation

·    Investor feedback can also be submitted directly to management post the event to ensure the Company can understand the views of all elements of its shareholder base.

About the Company:

COPL is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States with operations in Converse and Natrona Counties Wyoming, and in sub-Saharan Africa through its ShoreCan joint venture company in Nigeria, and independently in other countries.

For further information, please contact:

Mr. Arthur Millholland, President & CEO

Mr. Ryan Gaffney, CFO

Canadian Overseas Petroleum Limited 

Tel: + 1 (403) 262 5441

Cathy Hume

CHF Investor Relations

Tel: +1 (416) 868 1079 ext. 251

Email: cathy@chfir.com

Charles Goodwin

Yellow Jersey PR Limited

Tel: +44 (0) 77 4778 8221

Email: copl@yellowjerseypr.com

The Common Shares are listed under the symbol "XOP" on the CSE and under the symbol "COPL" on the London Stock Exchange.

This news release contains forward-looking statements. The use of any of the words "initial, "scheduled", "can", "will", "prior to", "estimate", "anticipate", "believe", "should", "forecast", "future", "continue", "may", "expect", and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company, including, but not limited to, the ability to raise the necessary funding for operations, delays or changes in plans with respect to exploration or development projects or capital expenditures. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements since the Company can give no assurance that they will prove to be correct since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties most of which are beyond the control of Canadian Overseas Petroleum Ltd. For example, the uncertainty of reserve estimates, the uncertainty of estimates and projections relating to production, cost overruns, health and safety issues, political and environmental risks, commodity price and exchange rate fluctuations, changes in legislation affecting the oil and gas industry could cause actual results to vary materially from those expressed or implied by the forward-looking information.  Forward-looking statements contained in this news release are made as of the date hereof and Canadian Overseas Petroleum undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.