VANCOUVER, BC, Nov. 21, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", or the "Company") is pleased to announce that it has completed the purchase of an additional interest of approximately 7.0% in Impact Oil and Gas Limited ("Impact") under the call and put option agreement announced on August 27, 2024. View PDF Version

Africa Oil Chief Executive Officer, Dr Roger Tucker, commented: "With this purchase we have achieved a key strategic objective of materially increasing Africa Oil's ownership in Impact, enhancing our rights and influence over a core strategic asset and value driver for the Company. We have greater exposure to an exciting opportunity set in Namibia's Orange Basin, including the Venus oil development, and a highly prospective exploration program on Blocks 2912 and 2913B including the Tamboti exploration well that is currently drilling."

VANCOUVER, BC, Nov. 18, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) - Africa Oil Corp. ("Africa Oil", or the "Company") is pleased to announce that the Company repurchased a total of 171,200 Africa Oil common shares on November 15, 2024, under the previously announced share buyback program. View PDF version

The launch of Africa Oil's normal course issuer bid (share buyback) program, announced by the Company on December 4, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange ("TSX"), Nasdaq Stockholm, and applicable Canadian and Swedish securities laws.

VANCOUVER, BC, Nov. 13, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2024. View PDF version

Highlights

Satisfied the material conditions precedent to the amalgamation to effect the consolidation of all of Prime in Africa Oil.The completion of the amalgamation is now expected during Q1 2025 compared to the previous guidance of Q3 2025, accelerating the timeline to implementing the enlarged shareholder returns program subject to customary Board approvals, as previously communicated on June 24, 2024.Closed the farm down for Block 3B/4B, facilitating the exploration drilling on this prospective Orange Basin block that is anticipated during 2025. Africa Oil currently holds a direct 17.0% interest.During Q3 2024 Africa Oil increased its shareholding in Impact to 32.4% and on November 5, 2024, served the notice to exercise the call option to acquire additional shares that on completion, will increase its shareholding to approximately 39.5%, enhancing its rights and influence over a core strategic asset and value driver for the Company.Distributed the second 2024 semi-annual dividend distribution of $0.025 per share.The Company ended Q3 2024 with a cash balance of $136.1 million and no debt.Selected Prime's highlights and results net to Africa Oil's 50% shareholding*:Recorded Q3 2024 average daily WI production of approximately 17,900 barrels of oil equivalent per day ("boepd"), which is approximately 13% higher than Q2 2024.Recorded Q3 2024 average daily net entitlement production of approximately 20,600 boepd, which is approximately 13% higher than Q2 2024.Recorded Q3 2024 and first nine months of 2024 cashflow from operations of $68.2 million and $214.9 million, respectively, resulting in an increase to the lower end of the full-year 2024 guidance to $260.0 million.Cash position of $210.3 million and debt balance of $375.0 million resulting in a Prime net debt position of $164.7 million at September 30, 2024. The AOC Net Debt inclusive of 50% Prime Net Debt is $28.6 million, which is approximately 22% lower than end of Q2 2024.

VANCOUVER, BC, Nov. 7, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") will publish its financial and operating results and related management's discussion and analysis for the three and nine months ended September 30, 2024, after Toronto market close on Wednesday, November 13, 2024. View PDF

Senior management will hold a conference call to discuss the results on Friday, November 15, 2024 at 09:00 (EST) / 14:00 (GMT) / 15:00 (CET). The conference call may be accessed by dial in or via webcast.

VANCOUVER, BC, Nov. 1, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce that its investee company Impact Oil & Gas Limited ("Impact") has completed the farm down ("Farm Down") of its interests in Blocks 2912 and 2913B offshore Namibia ("Blocks") to TotalEnergies EP Namibia B.V. Impact has also received a cash payment of approximately USD 99 million, as reimbursement for its share of costs incurred on the Blocks net to the Farm Down interests, prior to January 1, 2024 ("Effective Date"). View PDF version

VANCOUVER, BC, Nov. 1, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce that the Nigerian Upstream Petroleum Regulatory Commission ("NUPRC") has renewed Petroleum Mining Lease 52 ("PML 52"), containing the Agbami field, for a period of 20 years effective from November 24, 2024. View PDF version

Africa Oil Chief Executive Officer, Dr Roger Tucker, commented: "The renewal of PML 52 follows last year's renewal of the licenses for Prime's Akpo, Egina and Preowei fields. With respective 20-year renewals for each of these fields, our long-term production outlook from these high quality assets is secure. We thank NUPRC for its efficient processing of the application and issuing the renewal."

VANCOUVER, BC, Oct. 30, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce that the Nigerian Upstream Petroleum Regulatory Commission ("NUPRC") has given clearance for the amalgamation of Africa Oil Papa Corp., a wholly owned subsidiary of Africa Oil, and BTG Pactual Holding S.à r.l. ("Amalgamation") in exchange for the issuance of Common Shares in the Company to BTG Pactual Oil & Gas S.à r.l., to effect the consolidation of 100% ownership of Prime Oil & Gas Coöperatief U.A. ("Prime") in Africa Oil. View PDF version

VANCOUVER, BC, Oct. 15, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", or the "Company") is pleased to report the voting results from the Company's special meeting ("Meeting") of shareholders held today in Vancouver, British Columbia. This meeting was held for shareholders to vote on the resolution to approve the issuance of Common Shares to BTG Pactual Oil & Gas S.à r.l. in connection with the amalgamation of Africa Oil Papa Corp., a wholly owned subsidiary of Africa Oil, and BTG Pactual Holding S.à r.l. ("Amalgamation") This is for the purpose of consolidating 100% ownership of Prime Oil & Gas Coöperatief U.A. ("Prime") in Africa Oil. View PDF version

VANCOUVER, BC, Oct. 7, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil" or the "Company") is pleased to announce that leading proxy advisory firms Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co ("Glass Lewis") have recommended that Africa Oil shareholders vote "FOR" the resolution ("Amalgamation Resolution") to approve the issuance of Common Shares to BTG Pactual Oil & Gas S.à r.l. in connection with the amalgamation of Africa Oil Papa Corp., a wholly owned subsidiary of Africa Oil, and BTG Pactual Holding S.à r.l. ("Amalgamation") This is for the purpose of consolidating 100% ownership of Prime Oil & Gas Coöperatief U.A. ("Prime") in Africa Oil. View PDF version

VANCOUVER, BC, Sept. 17, 2024 /CNW/ - (TSX: AOI) (Nasdaq Stockholm: AOI) - Africa Oil Corp. ("Africa Oil" or the "Company") announces a special meeting (the "Meeting") of the holders (the "Shareholders") of common shares of Africa Oil. The meeting will be held: PDF Version 

Date and Time:

October 15, 20249:00 a.m. (Pacific time) / 6:00 p.m. (CET)

Location:

Bennett Jones LLPFraser Boardroom, Park Place, 666Burrard St #2500, Vancouver V6C 2X8

The purpose of the Meeting is as follows:

to consider and, if deemed advisable, to approve an ordinary resolution (the "Amalgamation Resolution") approving the issuance of Common Shares to BTG Pactual Oil & Gas S.à r.l.in connection with the amalgamation of Africa Oil Papa Corp., a wholly owned subsidiary of Africa Oil, and BTG Pactual Holding S.à r.l.; andto transact such other business as may properly come before the Meeting or any adjournment or postponement thereof.