Africa Oil is a Canadian oil and gas company with development and exploration assets in Kenya, Nigeria and South Africa. The Company also has exposure to exploration plays in other parts of Africa, including Guyana and South Africa as a result of its equity interests in Africa Energy Corp., Eco (Atlantic) Oil & Gas Ltd. and Impact Oil and Gas Limited. The Company recently completed the acquisition of a 50% interest in a company holding producing assets in offshore Nigeria. The following tables summarize the Company's net working interests in the various production sharing contracts/agreements, based on working interest ownership as well as equity interests in exploration companies.
|Country||Block / Area||Operator||Current Net|
Working Interest % (1)
|South Africa||3B/4B||Africa Oil||20%|
|Africa Energy (35%)||Strong inventory of exploration prospects, including high potential TOTAL operated South Africa Block and Tullow operated Namibia Block|
|Impact Oil and Gas (30%)||Namibia: multiple high potential exploration blocks Guyana: updip and adjacent to Exxon Liza discovery and play fairway|
|Eco Atlantic (18.7%)||Impressive portfolio of deep water exploration blocks, most of which have farm in agreements and carries by major oil companies (Exxon, TOTAL, Statoil, CNOOC)|
|POGBV (50%)||Nigeria Deepwater Oil Production/Exploration OML 127 (Chevron operator) and OML 130 (TOTAL operated). Production with development and exploration upside. Gross production 368,000 bopd|
Expected to exceed 550,000 bopd in 2019. POGBV – 8% OML 127 and 16% OML 130.
1 Net Working Interests are subject to back-in rights or carried working interests, if any, of the respective governments or national oil companies of the host governments.
Building an integrated Africa based oil company with production, cash flow, development and exploration.