Canadian Overseas Petroleum Limited: Results of Annual and Special Meeting

CALGARY, AB -- (Marketwired) -- 06/08/16 -- Canadian Overseas Petroleum Limited (TSX VENTURE: XOP) (LSE: COPL)

TSX-V: XOP

Canadian Overseas Petroleum Limited: Results of Annual and Special Meeting

Calgary, Canada, June 7, 2016 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX-V: XOP) (LSE: COPL), is pleased to announce that at its annual general and special meeting of shareholders held on June 6, 2016, COPL's shareholders approved the resolutions outlined in the Notice of Meeting and Information Circular dated April 16, 2016.

During business proceedings at the meeting, shareholders approved the following resolutions:

1. Election of Directors

------------------------- ----------- ----------- -------------- -----------
     Name of Nominee       Votes For   Percentage Votes Withheld  Percentage
------------------------- ----------- ----------- -------------- -----------
Arthur S. Millholland     135,361,565    84.42%       24,980,467    15.58%
------------------------- ----------- ----------- -------------- -----------
Massimo C. Carello        140,831,532    87.83%       19,510,500    12.17%
------------------------- ----------- ----------- -------------- -----------
Harald H. Ludwig          140,814,009    87.82%       19,528,023    12.18%
------------------------- ----------- ----------- -------------- -----------
John F. Cowan             140,812,565    87.82%       19,529,467    12.18%
------------------------- ----------- ----------- -------------- -----------
Viscount William Astor    140,603,009    87.69%       19,739,023    12.31%
------------------------- ----------- ----------- -------------- -----------

2. Appointment of Auditors

By resolution passed by a show of hands, Deloitte LLP was appointed as auditor of COPL for the ensuing year and the directors were authorized to fix the auditor's remuneration.

3. Approval of Stock Option Plan

The Stock Option Plan of the Company was approved by a vote, conducted by ballot, of 66.71% for and 33.29% against.

4. Approval of Consolidation of Shares

The Board also announces that the Share Consolidation received 90.56% shareholder votes in favor, 9.44% votes against. Please refer to the Information Circular for the details of the Share Consolidation. The timing for the Share Consolidation will be determined by the Board of Directors of COPL.

For Further Information Please Contact:

Canadian Overseas Petroleum Limited Mr. Arthur Millholland President and CEO Tel: + 1 (403) 262 5441

  Investor and Public Relations     Bell Pottinger
  CHF Investor Relations            Henry Lerwill
  Cathy Hume                        North America Toll Free: +1 866 834 8330
  Tel: +1 (416) 868 1079 ext. 231   Phone: +44 (0) 203 772 2500
  Toll Free: +1 877 838 1079

Broker: London Stock Exchange

Shore Capital Stockbrokers Limited Edward Mansfield Phone: T:+44 (0)20 7468 7906

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/5164A_1-2016-6-7.pdf

This information is provided by RNS The company news service from the London Stock Exchange END

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RNS
Customer Services
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http://www.rns.com

Source: Canadian Overseas Petroleum Ltd

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