Africa Oil Announces 2020 First Quarter Financial and Operating Results
VANCOUVER, May 7, 2020 /CNW/ (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. All dollar amounts are in United States dollars unless otherwise indicated. 2020 FIRST QUARTER HIGHLIGHTS* · Africa Oil closed the acquisition of a 50% ownership in Prime Oil and Gas B.V. (“Prime”) [1] for a cash consideration of $519.5 million. Prime holds interest in deepwater Nigeria assets, including three oil fields, that in aggregate produced ~530,000 barrels