Africa Oil Corp. is a Canadian oil and gas exploration company with producing and development assets in deep-water offshore Nigeria, and development assets in Kenya. The Company also has a portfolio of exploration assets in Guyana, Kenya, Namibia, Nigeria, South Africa and in the Senegal Guinea Bissau Joint Development Zone ("AGC"). The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies including Prime Oil & Gas Coöperatief U.A.("Prime"), Africa Energy Corp., Eco (Atlantic) Oil & Gas Ltd. and Impact Oil and Gas Ltd.
Multiple portfolio investments providing exposure to high impact exploration areas: Guyana, Namibia, South Africa
Africa Oil is lead by a highly successful management with proven exploration and development track record. Extensive experience throughout Africa.
Country | Concession | Working Interest | |
---|---|---|---|
Nigeria | OML 127 | Prime Chevron Corporation Famfa Oil |
8% 32% 60% (carried) |
OML 130 – PSA1 | Prime Total SAPETRO |
16% 24% 10% (carried) |
Country | Concession | Gross Acreage (km2) | Working Interests | |
---|---|---|---|---|
Kenya | 10BA | 11,760 | AOI Total Tullow (Operator) |
25% 25% 50% |
10BB | 8,835 | AOI Total Tullow (Operator) |
25% 25% 50% |
|
13T | 6,296 | AOI Total Tullow (Operator) |
25% 25% 50% |
|
South Africa | 3B/4B | 17,581 | AOI (Operator) Azinam Ricocure (Pty) Ltd |
20% 20% 60% |
1. 50% of the production from OML 130 is covered by a PSA, in which Prime owns a 32% Working Interest. Prime’s net Working Interest in OML 130 is therefore 16%.
2. 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.