Africa Oil Corp (AOIFF)

[RBMC]

18th December 2014. Translated…

Africa Oil's capital needs are is less than what analysts believe . Africa Oil's share highlights on Thursday Exchange.

It goes great owner Lukas Lundin in Thursday's edition of Dagens Industri and believes that statements about the need for several hundred million dollars are exaggerated.

" No, it's too much. And before there can be any question of an issue of the kind Africa Oil previously did, not before we have increased our reserves and oil prices have recovered ," he says, pointing also to the possibility of reduced capex commitments.

In addition, permits a great owner to Africa Oil is looking at options other than issue new stock.

" For example, we bring in a new partner or merge with another company . Right now we are looking at all options ," says Lukas Lundin told the newspaper.

A few research houses have recently reduced their capital assumptions from the previous $ 250 million to 150 million , such as Pareto Securities and Exane BNP Paribas. Nordea also thought last month to a need for $ 150 million.

Africa Oil's cash has been reported earlier to suffice to mid 2015.
"We will at the end might have some 140 million dollars left at checkout. Sufficient for another six months and so we have to be smart about how we spend our money to increase the value of the company," says Lukas Lundin to Dagens Industri.
Lundin lift Africa Oil.

https://www.avanza.se/placera/redaktionellt/2014/12/18/lundin-lyfter-africa-oil.html