VANCOUVER, BC, Oct. 26, 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
fifth dividend from Prime Oil and Gas B.V. ("Prime"), a company
that holds interests in deepwater Nigeria production and development assets.
View PDF version.
Prime has distributed a US$50
million dividend with a net payment to Africa Oil of
US$25 million related to its 50%
interest. The Company will apply US$12.1
million of this dividend to reduce the outstanding balance
of the BTG term loan to US$164.8
The Company has received a total dividends amount of
US$162.5 million since the closing of
the Prime acquisition on 14 January
Africa Oil Corp. is a Canadian oil and gas company with
producing and development assets in deepwater Nigeria; development assets in Kenya; and an exploration/appraisal portfolio
in Africa and Guyana. The Company is listed on the Toronto
Stock Exchange and on Nasdaq Stockholm under the symbol
This information is information that Africa Oil Corp. is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact person set out below on October
26, 2020 at 5:30 p.m.
Forward Looking Information
Certain statements and information contained herein constitute
"forward-looking information" (within the meaning of applicable
Canadian securities legislation). Such statements and information
(together, "forward looking statements") relate to future events or
the Company's future performance, business prospects or
All statements other than statements of historical fact may be
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"seek", "anticipate", "plan", "continue", "estimate", "expect,
"may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe" and similar
expressions) are not statements of historical fact and may be
"forward-looking statements". Forward-looking statements involve
known and unknown risks, ongoing uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. No assurance
can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required by
applicable laws. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
SOURCE Africa Oil Corp.