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.

TSX:AOI - Post by User

Africa Oil Corp.

Bullboard Posts

Post by freddahlon Feb 14, 2013 6:40am

514 Views

Post# 20986310

AFRICA OIL BEGINS DRILLING BLOCK 8 ETHIOPIA IN JUN

ADDIS ABABA (Reuters) Africa Oil starts drilling likely in the Ethiopian cockpit El Kuran-3 in Block 8, in what is known as the Ogaden basin, in june.Det said oil exploration company's business development manager James Phillips told reporters in the Ethiopian capital Addis Ababa on thursday.Skatteavtalet around the blocks expires in July this year and then will Africa Oil is likely that the application for an extension of the existing conditions did James Phillips förstå.El Kuran-3 will become Africa Oil's other Ethiopian well drilling for the ongoing Sabisa-drilling in South Omo-area, where results are expected by the end of the current månad.Africa Oil's participating interest in the two blocks is 30 percent. New Age that is operator control in turn 40 procent.I blocks 7 and 8 drilled three wells in the 1970s by Tenneco who then abandoned blocken.Africa Oil acquired the two blocks from Lundin Petroleum 2009th New Age took its turn over operatorship last year.