– Africa Oil Corp. is pleased to announce that Impact Oil & Gas Limited has entered into two agreements for exploration areas offshore South Africa. The Company has a 31.10% shareholding in Impact, a privately owned exploration company with a strategic focus on large scale, mid to deep water plays of sufficient materiality to be of interest to major companies. Impact has an asset base across the offshore margins of [...]
– Africa Oil Corp. is pleased to announce a significant gas condensate discovery on the Luiperd prospect located on Block 11B/12B offshore South Africa. This discovery follows the adjacent play-opening Brulpadda discovery in 2019, which proved a significant new petroleum province in the region. The Company holds an indirect interest in the project as a result of its equity interests in Africa Energy and Impact Oil & Gas [...]
– Africa Oil Corp. is pleased to announce that it has received its fifth dividend from Prime Oil and Gas B.V. , a company that holds interests in deepwater Nigeria production and development assets. View PDF version. Prime has distributed a US$50 million dividend with a net payment to Africa Oil of US$25 million related to its 50% interest. The Company will apply US$12.1 million of this dividend to reduce the outstanding [...]
– Africa Oil Corp. is pleased to announce that it will host a virtual town hall meeting on Thursday, October 29, 2020, at 18:00 CEST . View PDF version Mr. Keith Hill, President and CEO, and Mr. Pascal Nicodeme, CFO, will present an update on the Company's operations and take part in a Q&A session with investors. All are welcome to join. Please click here to register. After registering, you will receive a confirmation [...]
– Africa Oil Corp. is pleased to provide an update on Prime Oil & Gas B.V. Reserve Base Lending facility . Africa Oil has a 50% shareholding in Prime, a company with deepwater producing assets offshore Nigeria. View PDF version The September redetermination of the Prime RBL has been approved by the banking syndicate with a total principal amortisation for 2020 of US$522 million. This is US$108 million less than [...]
Mozambique President Named Africa Oil & Power's "Person of the Year" for 2020 - H.E. Filipe Nyusi has steered Mozambique through incredible challenges, and is leading the country to demonstrable economic success. - Multibillion-dollar gas projects are transforming Mozambique's economy and are leading to prosperity, progress for all Mozambicans. - Africa Oil & Power will present H.E. Filipe Nyusi, President of Mozambique [...]
– Africa Oil Corp. is pleased to announce that an extension has been granted by the Government of Kenya on Blocks 10BB and 13T. Under the terms of the extension, the Joint Venture partners have the right to extend the second exploration period for the 10BB and 13T licence blocks until 31 December 2020, with a further extension until 31 Dec 2021 contingent on an agreed work programme and budgets. Africa Oil intends to use [...]
– Africa Oil Corp. is pleased to announce that it has received its fourth dividend from Prime Oil and Gas B.V. , a company that holds interests in deepwater Nigeria production and development assets. View PDF Version Prime has distributed a US$50 million dividend with a net payment to Africa Oil of US$25 million related to its 50% interest. The Company has applied US$17.7 million of this dividend to pay down the BTG term [...]
– Africa Oil Corp. is pleased to announce that the joint venture partners on Blocks 10BB and 13T in Kenya, have today submitted a letter to the Kenyan Ministry of Petroleum and Mining, to withdraw the notices of Force Majeure that were declared on May 15, 2020. View PDF version The lifting of Force Majeure notices has been facilitated by the improvement in COVID-19 pandemic restrictions worldwide and the resumption of [...]
– Africa Oil Corp. is pleased to announce its financial and operating results for the three months ended June 30, 2020. All dollar amounts are in United States dollars unless otherwise indicated. View PDF version Highlights* Operational Production from Prime Oil & Gas B.V.'s Nigerian assets remained strong in the first half of 2020 despite curtailments at Egina in May and June due to OPEC quota limitations. Second [...]
– Africa Oil Corp. announces that Tullow Oil Kenya B.V., the operating partner on Blocks 10BB and 13T in Kenya, has today submitted notices of force majeure to the Kenyan Ministry of Petroleum and Mining on behalf of the joint venture partners in these blocks. View PDF version. These declarations are the result of impact of the COVID-19 pandemic on the operations, including Kenyan government's restrictions on domestic [...]
– Africa Oil Corp. is pleased to announce that it has received its third dividend from Prime Oil and Gas B.V. , a company that holds interests in deepwater Nigeria production and development assets. View PDF version. Prime has distributed a US$50 million dividend with a net payment to Africa Oil of US$25 million related to its 50% interest. This payment brings total dividends received by Africa Oil, since the closing of [...]
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