Africa Oil Corp (AOIFF)

[farrell90]

AOIFF's PR and slide show review of the financial aspectts of de risking Impact Oil's Venus holdings

"Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce a significant value enhancing farmout transaction related to its offshore Namibia interests held through its investee company, Impact Oil and Gas Limited ("Impact"). On the closing of this transaction Impact will have a 9.5% interest in Blocks 2912 and 2913B (together, "the Blocks") that is fully carried for all joint venture costs, with no cap, through to first commercial production. Impact will also be cash reimbursed on closing for its share of the past costs incurred on the Blocks net to the farmout interests, which is estimated to be approximately USD 99 million. "

https://africaoilcorp.com/news/africa-oil-announces-strategic-farmout-of-impacts-122899/
https://africaoilcorp.com/site/assets/files/1863/impact-farmout-presentation-january-2024-final.pdf

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