Africa Oil Corp (AOIFF)

[douginil]

May 11, 2017

Africa Oil 2017 First Quarter Financial and Operating Results

As at March 31, 2017, the Company had cash of $450.1 million and working capital of $419.0 million as compared to cash of $463.1 million and working capital of $435.0 million at December 31, 2016. The Company continues to work closely with its Joint Venture Partners to focus efforts on advancing the South Lokichar Basin development in Blocks 10BB and 13T (Kenya) by undertaking activities aimed at increasing resources and resource certainty while progressing development studies and planning. We are pleased to have recommenced drilling activities in the South Lokichar Basin during the fourth quarter of 2016 and to have agreed with our Joint Venture Partners to extend the ongoing exploration and drilling campaign in the South Lokichar Basin.


Read more at:
http://africaoilcorp.mwnewsroom.com/press-releases/africa-oil-2017-first-quarter-financial-and-operating-results-tsx-aoi-201705111094505001