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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 Chutzpahon May 21, 2018 4:54am
287 Views
Post# 28059215

AFRICA OIL INTRESSERAT AV PETROBRAS AFRIKA-TILLGÅNGAR - RTRS

AFRICA OIL INTRESSERAT AV PETROBRAS AFRIKA-TILLGÅNGAR - RTRS
AFRICA OIL
INTRESSED BY PETROBRAS AFRICA ASSETS - RTRS (Direct)
2018-05-18 17:05
STOCKHOLM (Direct) The Brazilian oil giant Petrobras, who is wrestled with debt and corruption investigations, is told to sell its African assets.
 
Three consortia, in which Africa Oil is a part of one, is said to have submitted a bid for African assets comprising two Nigerian assets, offshore.
 
It wrote Reuters on Thursday with reference to persons with insight into the matter.
 
Petrobras' share of African assets has previously been subject to a value of around $ 2 billion, according to the Reuters article.
 
The oil merchant giant Vitol, together with London-based Delonex, is looking for oil in the eastern and central parts of Africa, as well as the Lundin family's Africa Oil to be one of the bidders where bids were submitted in early May.
 
Just before Christmas, the big owner Lukas Lundin told the news agency Direct that Africa Oil has aimed at acquiring production assets, looking at, among other things, potential major purchases in West Africa, offshore, in the billionth grade.
 
"We are looking at four different possible acquisitions in West Africa right now and there is a large acquisition that looks interesting with a price tag of up to $ 1 billion. We have a cash box of over $ 400 million since we can borrow money," he said. to Direct.
 
The other two consortia are reportedly comprised of Glencore and Royal Dutch Shell.
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