Africa Oil Corp. T.AOI

Alternate Symbol(s): AOIFF

Energy Oil & Gas E&P

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery, offshore Namibia, and an exploration/appraisal portfolio in west and south of Africa. 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 Limited (Impact); Africa Energy Corp. (Africa Energy), and Eco (Atlantic) Oil & Gas Limited (Eco). 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 Block 3B/4B covers an area of approximately 17,581 square kilometers (km2) within the Orange Basin offshore of the Republic of South Africa. The Company has approximately 17% interest in Block 3B/4B.

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Africa Oil Corp.

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Post by kentoon Apr 18, 2012 11:02am

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Post# 19807332

FROM THE OILBARREL

News: April 12, 2012

Now Tullow Oil Finds Oil In Kenya…With Ngamia-1 Still Drilling Ahead

Is Tullow Oil’s magic touch about to put Kenya on the oil and gas map? The FTSE 100 super-explorer, which has already transformed the economic outlook for Ghana and Uganda on the back of multi-billion barrel finds, has now struck oil in the dusty northern Turkana area of Kenya with its first well in the country. Ngamia-1 in Block 10BB in the Lokichar Basin has found more than 20 metres of net oil pay in good quality Tertiary age sandstones at a depth of 1,041 metres. Moveable oil with an API of more than 30 degrees was recovered to surface. Tullow said the oil was similar to the light waxy crude discovered in Uganda

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