VANCOUVER, BC, Dec. 17, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received its sixth dividend from Prime Oil and Gas B.V. (“Prime”). View PDF version.

Prime has distributed a US$75.0 million dividend with a net payment to Africa Oil of US$37.5 million related to its 50% shareholding. The Company intends to apply US$23.8 million of this dividend to reduce the outstanding balance of the BTG term loan to US$141 million. The Company has received a total dividend amount of US$200 … Continue Reading

VANCOUVER, BC, Dec. 7, 2020 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that the Company and its Joint Venture partners have received extensions to their 10BB/13T blocks exploration licences in Kenya to the end of 2021. This follows the approval of the work programme and budget for next year by the Ministry of Mines and Petroleum. View PDF version

The licence extensions will allow the Joint Venture partners to re-assess Project Oil Kenya and design an economic project at low oil prices whilst preserving the phased development concept. … Continue Reading

VANCOUVER, BC, Dec. 7, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce drill stem test results for the Luiperd-1X well, the second major discovery on Block 11B/12B offshore South Africa. The Company holds an indirect interest in the project as a result of its equity interests in Africa Energy Corp. (19.9%) and Impact Oil & Gas Limited (31.1%). View PDF version

Jan Maier, Africa Energy’s VP Exploration, commented, “The Luiperd discovery proves that the Outeniqua Basin offshore South Africa is a world-class … Continue Reading

VANCOUVER, BC, Dec. 1, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) reports the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act. View PDF version

As a result of the issuance of 10,666 common shares in connection with the settlement of restricted share units under the Company’s long-term incentive plan during the month, the number of issued and outstanding shares of the Company has increased to 471,960,472 common shares with voting rights as at November 30, 2020.

About Africa Oil

Africa Oil … Continue Reading

VANCOUVER, BC, Nov. 13, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) â€“ Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to announce its operating and consolidated financial results for the three and nine months ended September 30, 2020. The Company is also providing a revision to its 2020 Management Guidance and an organisational update. All dollar amounts are in United States dollars unless otherwise indicated. View PDF version

Highlights

VANCOUVER, BC, Nov. 4, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) â€“ Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that Impact Oil & Gas Limited (“Impact”) 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 Southern and West Africa. View PDF Version

Farm-out of … Continue Reading

VANCOUVER, BC, Oct. 28, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) 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 (31.3%) and Impact Oil & Gas Limited (31.1%). View PDF Version

Garrett Soden, Africa Energy’s … Continue Reading

VANCOUVER, BC, Oct. 26, 2020 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received its fifth dividend from Prime Oil and Gas B.V. (“Prime”), 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 balance of the BTG term loan to US$164.8 million.

The … Continue Reading

VANCOUVER, BC, Oct. 23, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) â€“ Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it will host a virtual town hall meeting on Thursday, October 29, 2020, at 18:00 CEST (12:00 EDT). 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 email … Continue Reading

VANCOUVER, BC, Oct. 1, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) â€“ Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to provide an update on Prime Oil & Gas B.V. (“Prime”) Reserve Base Lending facility (“RBL”). 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 management’s initial guidance of US$630 million as announced on … Continue Reading

VANCOUVER, BC, Sept. 9, 2020 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) â€“ Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) 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 this extended time frame to work … Continue Reading

VANCOUVER, BC, Aug. 31, 2020 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received its fourth dividend from Prime Oil and Gas B.V. (“Prime”), 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 loan, reducing the outstanding balance to US$176.9 million.

The … Continue Reading