Africa Oil is an international oil and gas exploration and development company, based in Canada, with oil and gas interests in Kenya. The Company has also made equity investments in a number of international oil and gas exploration companies and has announced a proposed transaction to acquire an interest in a Company holding interests in producing and developing oilfields in deep-water Nigeria.
Africa Oil's long-range plan is to increase shareholder value through the acquisition, exploration, development and production associated with oil and gas assets. The Company has actively explored on multiple onshore exploration blocks in various under explored geological settings in East Africa. The Company has made numerous oil discoveries in the South Lokichar Basin (Blocks 10BB and 13T) located in the Tertiary Rift trend in Kenya. Appraisal activities are ongoing with the goal of sanctioning development of the oil fields in the South Lokichar Basin. Africa Oil will continue to consider acquisition and merger opportunities, focusing on Africa.
The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI".
Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia, and an equity interest in Africa Energy Corp.
The East African Rift Basin system is one of the last of the great rift basins to be explored. Africa Oil holds extensive exploration acreage in this exciting new world-class exploration play fairway. Several new significant oil discoveries have been announced in the Lokichar basin of Kenya in which the Company holds a 25% interest along with operator Tullow Oil plc.
The Company is listed on the TSX and on Nasdaq Stockholm under the symbol "AOI".