All dollar amounts in this press release are USD unless otherwise indicated.

VANCOUVER, Jan. 14, 2020 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce the closing of the acquisition (the “Acquisition”) of a 50% ownership interest in Petrobras Oil and Gas B.V. (“POGBV”).  BTG Pactual E&P B.V. will continue to own the remaining 50% of POGBV. The total cash payment by AOI to close the Acquisition, including the Nigerian Government’s consent fee, amounts to $519.5 million. This includes a deferred payment of $24.8 million which is due by … Continue Reading

VANCOUVER, Nov. 13, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019. All dollar amounts are in United States dollars unless otherwise indicated. View PDF version

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VANCOUVER, Nov. 1, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has entered into an amendment to the share purchase agreement (the “Amended SPA”) signed on October 31st, 2018, between Petrobras International Braspetro BV (“PIBBV”) and Petrovida Holding B.V. (“Petrovida”), the company formed by the consortium of  Africa Oil, Delonex Energy Ltd. (“Delonex”) and Vitol Investment Partnership II Ltd. (“Vitol”) to acquire an ownership interest in Petrobras Oil and Gas B.V. (“POGBV”). This follows Vitol and Delonex decisions to withdraw from the previously announced … Continue Reading

VANCOUVER, Sept. 16, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce a second large oil discovery on the Orinduik block in the Joe-1 exploration well resulting in the opening of a new Upper Tertiary oil play in the Guyana basin. View PDF Version.

The Joe-1 exploration well was drilled by the Stena Forth drillship to a total depth of 2,175 metres in water depth of 780 metres. Evaluation of MWD, wireline logging and sampling data confirm 16 metres of net oil pay in high-quality oil bearing sandstone reservoirs … Continue Reading

VANCOUVER, Sept. 3, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) reports that it has opened a new corporate office in Central London as of September 1, 2019.  Three senior management staff will be relocating to London including Keith Hill (CEO), Tim Thomas (COO) and Paul Martinez (VP Exploration).  The technical and accounting staff and function will continue to be located in the Company’s existing Calgary office.  This relocation is designed to facilitate greater access to the investment community, partners in our existing ventures and deal flow in the current highly prospective … Continue Reading

VANCOUVER, Aug. 27, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that drilling of the Joe prospect has commenced offshore Guyana. This is the second exploration well on the Orinduik Block. Joe-1 was spud on 25 August 2019 using the Stena Forth drillship which drilled the recently announced Jethro oil discovery. The well is estimated to take approximately three weeks to drill. View PDF version.

The Joe prospect is a Tertiary feature on the northern part of the Orinduik Block in approximately 700 meters of water. 

Partners on … Continue Reading

VANCOUVER, Aug. 14, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019.

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VANCOUVER, Aug. 12, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce a significant oil discovery on the Orinduik Block, offshore Guyana. The Jethro-1 exploration well was drilled by the Stena Forth drillship to a final depth of 14,331 feet (4,400 meters) in approximately 1,350 meters of water. Evaluation of logging data confirms that the Jethro-1 is the first discovery on the Orinduik licence and comprises high quality oil-bearing sandstone reservoir of Lower Tertiary age. It encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent Lower … Continue Reading

VANCOUVER, July 5, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on the Jethro-Lobe prospect on the Orinduik Block. View PDF version.

Jethro-Lobe was spud at 22:45 (local Guyana time) on July 4, 2019 using the Stena Forth drillship.

Partners on the Orinduik Block comprise Tullow Guyana B.V. (“Tullow”, Operator, 60% Working Interest (“WI”), Total EP Guyana BV (“Total”, 25% WI) and Eco (Atlantic) Oil & Gas Ltd. (“Eco”, 15% WI).  Africa Oil holds … Continue Reading

VANCOUVER, July 3, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Africa Oil SA Corp., has entered into a definitive farmout agreement with Azinam Limited (“Azinam”), the Seacrest Capital-backed South West African-focussed oil & gas exploration company, whereby Africa Oil will acquire a 20% participating interest and operatorship in the Exploration Right for Block 3B/4B, offshore South Africa. Azinam will retain a 20% participating interest and Ricocure (Pty) Ltd retains a 60% participating interest. View PDF version.

Block 3B/4B is … Continue Reading

VANCOUVER, June 26, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that Heads of Terms agreements with the Government of Kenya and joint venture partners, Africa Oil, Tullow Oil plc and TOTAL S.A. have been signed for the development of the oil fields in the South Lokichar Basin. View PDF Version.

The Joint Venture Partners and the Government of Kenya have concluded negotiations around key fiscal and commercial principles for Project Oil Kenya with agreements between the parties documented in various Heads of Terms which were signed by … Continue Reading

VANCOUVER, May 9, 2019 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2019. View PDF version.

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