– Africa Oil Corp. is pleased to announce its financial and operating results for the three months and year ended December 31, 2019. The Company is also releasing today, its 2020 Management Guidance including guidance related to its 50% equity investee, Prime Oil & Gas B.V. , a company that holds interests in deepwater Nigeria assets. All dollar amounts are in United States dollars unless otherwise indicated. View [...]
– Africa Oil Corp. is pleased to announce that the government of South Africa, has approved the acquisition of a 20% participating interest in the Block 3B/4B Exploration Right from Azinam Limited by its wholly-owned subsidiary, Africa Oil SA Corp.. Africa Oil Corp. will assume operatorship for the joint venture partners; Azinam will retain a 20% participating interest and Ricocure Ltd retains a 60% participating [...]
Africa Oil Corp. is pleased to announce that it has received its first dividend from Prime Oil and Gas B.V. , a company that holds interests in deepwater Nigeria production and development assets. PDF version. POGBV has distributed a US$125 million dividend with a net payment to Africa Oil of US$62.5 million related to its 50% interest. The Company will apply this amount, and any future dividends, in priority towards the [...]
All dollar amounts in this press release are USD unless otherwise indicated. – Africa Oil Corp. is pleased to announce the closing of the acquisition of a 50% ownership interest in Petrobras Oil and Gas B.V. . 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 [...]
- Africa Oil Corp. 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 HIGHLIGHTS: The Company ended the quarter with cash of $330.3 million and working capital of $300.2 million; Subsequent to end of the quarter the Company announced it had entered into an amendment [...]
– Africa Oil Corp. is pleased to announce that it has entered into an amendment to the share purchase agreement signed on October 31st, 2018, between Petrobras International Braspetro BV and Petrovida Holding B.V. , the company formed by the consortium of Africa Oil, Delonex Energy Ltd. and Vitol Investment Partnership II Ltd. to acquire an ownership interest in Petrobras Oil and Gas B.V. . This follows Vitol and [...]
… Africa Oil Corp. 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 [...]
… Africa Oil Corp. 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 , Tim Thomas and Paul Martinez . 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 [...]
… Africa Oil Corp. 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 [...]
… Africa Oil Corp. is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. View PDF version. HIGHLIGHTS: The Company ended the quarter with cash of $341.3 million and working capital of $312.4 million; The Joint Venture Partners and the Government of Kenya have concluded negotiations around key fiscal and commercial principles for Project Oil Kenya with agreements [...]
… Africa Oil Corp. 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 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 [...]
FOR IMMEDIATE RELEASE Media Inquiries: Aydanur Akkurt Director of Global Circulation +90 554 306 72 99 aydanur@africaoilandpower.com Senegal Oil & Gas Industry Offers Template for Other African Economies, Says Report "Africa Energy Series - Senegal 2019," produced by Africa Oil & Power, will be launched October 9 at the Africa Oil & Power 2019 Conference in Cape Town This first comprehensive report on Senegal's energy [...]
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