Africa Oil Announces the Receipt of Prime Dividend
VANCOUVER, BC, May 25, 2022 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received a dividend from Prime Oil and Gas Cooperatief UA (“Prime”). The Company has a 50% shareholding in Prime. Prime has distributed a $50.0 million dividend with a net payment to Africa Oil of $25.0 million related to its shareholding. This is the second Prime dividend distributed this year with Africa Oil having received an aggregate amount of $125.0 million. Since acquiring its 50% interest in Prime for a cash