Africa Oil Receives Third Dividend from its Nigerian Asset
VANCOUVER, May 12, 2020 /CNW/ (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received its third dividend from Prime Oil and Gas B.V. (“Prime”), a company that holds interests in deepwater Nigeria production and development assets. Prime has distributed a US$50 million dividend with a net payment to Africa Oil of US$25 million related to its 50% interest. This payment brings total dividends received by Africa Oil, since the closing of the Prime acquisition on 14 January 2020, to US$112.5 million. This