Africa Oil Corp (AOIFF)

[douginil]

From Barbara on stockhouse

Appears to be an email from someone named Amanda. Don't know who Barbara or Amanda are but it appears to be creditable.


Subject: From Amanda about Deepwater Nigeria
Posted by: Barbara
Date and time: 1/30/2019 11:27:38 AM
Text: From Amanda: We are very excited about this transaction too and will transform AOI into a significant producing oil company with substantial production upside as well. As the deal has an effective date of 1 Jan 2018, the final amount that will need to be paid will depend on the amount of cash flow in the interim period, including any debt drawdown in the target company, and resultant dividends paid to Petrobras. We expect the final amount due will be significantly less than our share of the acquisition price disclosed in the 31 Oct 2018 press release. We would expect to provide more guidance closer to the deal closing. The transaction is subject to normal customary closing conditions. Lawsuits mentioned in local press are not related and not expected to have any impact. Once the transaction closes (expected in next few months) there will be more details available. The transaction is effective as of January 2018 and therefore we will have the financial benefit from that point. Financial return forecasts are not available yet. Best regards, Amanda