Canadian Overseas Petroleum Recognized as a TSX Venture 50 for 2014

CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSX VENTURE:XOP), is pleased to announce that the Company has been recognized as one of the "TSX Venture 50" for 2014, which identifies the top 50 performing companies in the sectors of Clean Technology, Diversified Industries, Mining, Oil & Gas and Technology & Life Sciences on the TSX Venture Exchange. The rankings are made based on the criteria of market capitalization growth, share price appreciation, trading volume and analyst coverage.

Mr. Arthur Millholland, President and CEO of COPL, commented: "We are thrilled with what we were able to accomplish in 2013 and thank the TSX Venture Exchange for their recognition as one of the TSX Venture 50. We have an exciting year planned for 2014 with the upcoming exploration campaign offshore Liberia and our focussed plans to continue to develop and grow the portfolio in West Africa."

About the Company

COPL is an international oil and gas exploration and development company focussed in the offshore West Africa. The Company holds a 17% working interest in Block LB-13, offshore Liberia, with ExxonMobil the operator holding an 83% working interest. COPL is carried by ExxonMobil for its share of the first $120 million of gross drilling costs of a two well exploration programme planned for 2014. COPL also holds exploration acreage with shale oil potential on the north island of New Zealand.

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.