VANCOUVER, BC, July 27,
2022 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI)
– Africa Oil Corp. ("AOI", "Africa Oil" or "the Company")
regrets to announce the death of the Company's founding shareholder
and inspirational leader behind the Company, Mr. Lukas H. Lundin, in Geneva, Switzerland on 26 July 2022 at the age of 64, following a
two-year battle with brain cancer. View PDF version
Over the past 40 years, Lukas
Lundin was the driving force behind the tremendous success
of the Lundin Group of Companies. Lukas started his career in the
international energy and mining sectors in the early 1980s working
side-by-side with his father, the late Adolf H. Lundin.
Under the leadership of Lukas and his brother Ian, and in close
cooperation with the rest of the Lundin family, the Lundin Group of
Companies has grown into an internationally recognized group of
energy and mining companies with operations around the globe,
employing more than 15,000 people and creating opportunities for
tens of thousands more.
The eleven companies that make up the Lundin Group of Companies
today have a combined market capitalization exceeding USD
Lukas Lundin founded Africa Oil
Corp in 2007 by transforming a former group company, Canmex
Minerals Corporation, into an East African oil exploration
vehicle. Following some major discoveries in Northern Kenya, the company has grown into a
large, highly successful full cycle company with production in
Nigeria and development and
exploration projects throughout Africa.
Lukas Lundin's sons Harry,
Adam, Jack and William say in a joint
"Our father is our biggest
inspiration. His passion for the industries to which he devoted his
life was unparalleled. Lukas saw people as the key to success and
spent decades building some of the strongest management teams in
our industries. He always strived to empower those
working with him and continuously pushed us to aim higher. We
could not have had a better father and mentor.
"Our family is deeply saddened about Lukas' passing but takes
comfort in the knowledge that his legacy will live on for
generations to come. Having worked side-by-side with Lukas for many
years, all of us look forward to continuing to build on the
successes of the companies within the Lundin Group - with the
support of our shareholders and stakeholders, not least the members
of the local communities where we operate. The companies in the
Lundin Group stand stronger than ever and the Lundin family is
united in our commitment to remain long-term shareholders."
Africa Oil's President and CEO, Keith
Hill, commented, "The world has lost a leading force in
responsible, sustainable and profitable development of natural
resources. I have lost a good friend and mentor who gave me
the opportunity to grow a number of companies under his guidance
and leadership. His tireless enthusiasm, his endless persistence
and his steadfast knowledge that we were performing an invaluable
service to the world by working with developing nations to create
value through the responsible development of their resources,
should be a model for future generations. We look forward to
continuing his vision under the leadership of the third generation
of the Lundin family business who will undoubtedly preserve and
grow his legacy."
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 "AOI".
The information was submitted for publication, through the
agency of the contact person set out below, on July 27, 2022 at 11:30
SOURCE Africa Oil Corp.