Canadian Overseas Petroleum Limited announce increased oil production at its operated Barron Flats Shannon Unit. Crude oil production from the Shannon Unit has increased by approximately 700 bbl./d, a 35% increase from the oil production reported in the Company's Press Release dated November 15, 2021. The increase in oil production is due to the commissioning of facilities to reduce the surface working pressures on the most capable producing well in the field. This well, a horizontal well previously producing at a restricted rate of 150 bbl./d, has exhibited exceptional response to the miscible flood scheme and was responsible for the peak in field oil production in August.