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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio in west and south of Africa, as well as Guyana. The Company is focused on its Nigerian assets, Namibian Orange Basin opportunity set (Blocks 2913B and 2912), Block 3B/4B in South Africa's Orange Basin, and Equatorial Guinean exploration blocks (EG-18 and EG-31). The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies, including Prime Oil & Gas Cooperatief U.A. (Prime), Impact Oil and Gas Ltd (Impact), Africa Energy Corp (Africa Energy) and Eco (Atlantic) Oil & Gas Ltd. (Eco). Prime is a Nigeria-focused company with interests in OML 127 and OML 130 that account for all of the Company's reserves and production. Eco is an oil and gas exploration company with interests in Guyana, Namibia and South Africa. Impact has interests in Namibia and South Africa.


TSX:AOI - Post by User

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Post by superoilhunteron May 25, 2012 4:32pm
531 Views
Post# 19948101

Next Elephant hunt setting up

Next Elephant hunt setting up

Posted on ihub.

The Star (Nairobi)

Kenya: Tullow to Prospect for Oil in Nyakach
BY SAMUEL OTIENO, 23 MAY 2012
Comment
British Oil Company Tullow is set to begin another round of oil prospecting in Nyakach constituency following a recent visit by the company's technicians to the area.

Yesterday Nyakach DC Chaunga Mwachaunga and area MP Pollyns Ochieng, in a joint address to members of the Hindu Council of Kenya, said officials from Tullow have already secured a certificate of exploration from the Ministry of Energy to begin prospecting oil in the area.

Chaunga said the prospecting is part of the government's efforts to explore minerals in the region with Nyakach believed to have oil deposits.

Speaking in his office at Pap Onditi, the DC confirmed that he had received the technical officers from Tullow who toured the area early last week with a promise start putting up a drilling machine by mid June.

"The Government had earmarked some region for exploration of certain useful mineral and oil, this region was marked and Tullow were awarded the certificate top carry out exploration activities for oil in this region, other companies also have certificate to explore the possibilities of other minerals", said the DC.

Tullow Oil general manager for Kenya Martin Mbogo yesterday confirmed that an advance team had visited the area to do block assessment.

"What we are doing is surveying the area and checking issues of infrastructure, security and community issues. We expect to start the prospecting around August," Mbogo said. Oil deposits in Nyakach could open up the area for development and raise the standard of living for residents.

The wells will be the first to be sunk in the region whose major explorations are gold and other minerals. Ochieng said the Energy PS had informed him of the potential of the area and will take the matter to Parliament to expedite the exploration.

Should there be oil in Nyakach, Tullow will make another breakthrough after successfully discovering oil in Ngamia 1 block in Turkana. The firm has predicted that the country potentially has huge oil deposits and has laid out a huge budget for its
exploration.

https://allafrica.com/stories/201205240059.html

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