Canadian Overseas Petroleum Limited, together with its subsidiaries, engages in the identification, acquisition, exploration, and development of oil and natural gas offshore reserves in Africa. It holds 100% interest in the OPL 226 blocks that covers an area of 1,530 square kilometers located in the Niger Delta province, offshore Nigeria. The company was formerly known as Velo Energy Inc. and changed its name to Canadian Overseas Petroleum Limited in July 2010.

Canadian Overseas Petroleum Limited is headquartered in Calgary, Canada.