Canadian Overseas Petroleum doubles value on back of fundraising rumors; 88 Energy slumps 43% after stopping Alaskan operation

By Ian Lyall At Proactive Investors For This is money.co.uk|

Big decision: Canadian Overseas Petroleum is to decide whether to go ahead with a third phase of exploration offshore Liberia

Mystery surrounds the movement of Canadian Overseas Petroleum (COPL), whose shares have doubled in value in recent days backed by heavy buying volume.

The Twittersphere is alight with rumours of a fundraising, which commonsense suggests would likely act as bromide (rather than Viagra) to the stock price.

Thumbing through the cuttings the only upcoming news of note we can find is the decision as to whether COPL will proceed to a third phase of exploration offshore Liberia.

Big decision: Canadian Overseas Petroleum is to decide whether to go ahead with a third phase of exploration offshore Liberia.

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Source: News Now/This is Money

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About Cholo Brooks 13337 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.