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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Comment by STVPon May 28, 2012 6:51pm

386 Views

Post# 19954137

RE: RE: RE: RE: RE: RE: Financial Post Article

hhlfan.. sure it' nice to talk about finding 5 billion barrels, but what's the government of Kenya take from that amount. In Uganda apparently 8 of every ten barrels goes to the government:

https://green.blogs.nytimes.com/2009/09/29/uganda-oil-find-stirs-hope-and-conflict/

"Meanwhile, reports of a deal between Tullow Oil and the Ugandan government suggest that for every ten barrels found by Tullow, the government gets eight."

Now what happens if the government cut of the wealth doesn't trickle down? In a country like Kenya, that will not be a good situation for the explorers/producers on their land.

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