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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

Bullboard Posts
Post by GoJerezon Aug 11, 2016 1:06pm
375 Views
Post# 25131478

Kenya approves plans to start production of crude oil

Kenya approves plans to start production of crude oilA special cabinet meeting in Kenya on Thursday approved plans to start production of 2,000-4,000 barrels of crude oil in Lokichar, the Daily Nation reports. The crude oil will be transported by both rail and road to Mombasa for refining. Oil was discovered in Kenyas Turkana County in 2012 by Tullow Oil and the country is now getting ready to full commercial exploitation of the product with plans in motion to establish business and infrastructure to market it abroad. President Uhuru Kenyatta who chaired the meeting also approved the development of the Lokichar to Lamu crude pipeline which will be the main transportation route for the oil from Kenya in the future. The first crude oil in Kenya will be refined at the Kenya Petroleum Refinery in Mombasa which has now been fully acquired by the government through the Kenya Pipeline Company. The Cabinet also approved ministerial budget priorities for the 2016/2017 financial year.
Bullboard Posts