No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Africa Oil Corp. is a Canadian oil and gas company with a diversified African portfolio. We are also, on a regular basis, assessing the threat and potential impact of the pandemic on the local communities close to our operations. In Namibia , through our shareholding in Impact, we are nearing the spud of the Venus exploration well on Block 2913B , targeting a multi-billion barrels prospect. In Namibia , through our shareholding in Impact, we are nearing the spud of the Venus exploration well on Block 2913B , targeting a multi-billion barrels prospect. Our 2019 Brulpadda discovery on Block 11B / 12B offshore South Africa , has opened up an exciting petroleum basin with tremendous running room for follow-on exploration activity. On behalf of the board of directors I extend our best wishes for good health to you and your families.Our immediate focus at Africa Oil is the safety and well-being of our stakeholders and we have implemented strict measures to minimise the risk of contagion. On this note, it is important to reiterate our company's robust position to weather this storm.
Goes Ex-Dividend SoonBitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI".Certain statements and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). View PDF Version.. Dear Africa Oil shareholders, I write to you during a period of immense stress and uncertainty. The Company has oil and gas interest in Kenya and Ethiopia. These exploration programs are firm with drilling on both blocks expected to commence in late June or early July 2020 .In these exceptional times there can be no 'business as usual', so the company's management with the support of the board are working hard to reduce discretionary capital expenditure and G&A costs as much as possible.The last few months have been dramatic for Africa Oil, with the positive impact of our transformational Prime acquisition being tempered by the events of the last few weeks. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in macro-economic conditions and their impact on operations, changes in oil prices, results of exploration and development activities, cost overruns, uninsured risks, regulatory and fiscal changes, defects in title, claims and legal proceedings, availability of materials and equipment, availability of skilled personnel, timeliness of government or other regulatory approvals, actual performance of facilities, joint venture partner underperformance, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental, health and safety impacts on operations. The Company owns and operates assets in Kenya and Ethiopia. Release . Although this is very challenging time, I hope you agree with my view that the company has a quality portfolio and a capable management team, for it to successfully emerge from these dark days into a more favourable competitive landscape.I would like to take the opportunity to thank you, my fellow shareholders, for your continuing support of the company. Our employees and consultants have been instructed to work from home, as much as possible, and no business travel is authorised unless it is absolutely necessary for safety of our operations. The COVID-19 pandemic threatens millions of lives worldwide and casts a … Although this is very challenging time, I hope you agree with my view that the company has a quality portfolio and a capable management team, for it to successfully emerge from these dark days into a more favourable competitive landscape.I would like to take the opportunity to thank you, my fellow shareholders, for your continuing support of the company. There are also contingency plans in place to isolate suspected infection cases offshore if required.I am hopeful that over the coming months the international community will have a much stronger grasp of this pandemic and that we will gradually return to our normal routines. I have no doubt this time is no exception and a recovery, once underway, will have strong momentum. We are also, on a regular basis, assessing the threat and potential impact of the pandemic on the local communities close to our operations. On behalf of the board of directors I extend our best wishes for good health to you and your families. Your confidence in Africa Oil is greatly appreciated and rest assured, that your board of directors and management team are working tirelessly to build on our recent milestone of becoming a full-cycle E&P company and towards a recovery in our share price.This information is information that Africa Oil Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. We are witnessing a perfect storm caused by a combination of ballooning supplies and collapse in demand.The market's short-term outlook is negative but as we have seen many times before, the global energy markets do re-balance and prices do recover. The COVID-19 pandemic threatens millions of lives worldwide and casts a dark cloud over all aspects of our daily lives. The Company is listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol “AOI”.