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April 25, 2015 11:21 PM ET

Oil, Gas and Consumable Fuels

Company Overview of New Age (African Global Energy) Limited

Company Overview

New Age (African Global Energy) Limited engages in the exploration, development, and production of oil and gas primarily in the African region. The company holds licenses for 13 onshore and offshore blocks in Congo-Brazzaville, Ethiopia, South Africa, and Kurdistan covering an area of approximately 88,000 square kilometers. It has a portfolio of development, appraisal, and exploration assets with 37.5 million barrels of oil equivalent of gross probable reserves, 17.1 million barrels of oil equivalent of gross contingent resources, and 702.2 million barrels of oil equivalent of gross prospective resources. New Age (African Global Energy) Limited was founded in 2007 and is based in London, the...

8 Lancelot Place

6th Floor


London,  SW7 1DR

United Kingdom

Founded in 2007

22 Employees


44 2075 817 830


44 2075 817 831

Key Executives for New Age (African Global Energy) Limited

Chairman, Chairman of Compliance, Governance & Reserves Committee and Member of Compensation & Nomination Committee
Age: 54
Executive Vice President of Finance
Executive Vice President of Operations
Executive Vice President of Exploration
Age: 55
Executive Vice President of Technical
Compensation as of Fiscal Year 2014.

New Age (African Global Energy) Limited Key Developments

Bowleven Completes Farm-Out with LUKOIL Overseas West Project Ltd and New Age (African Global Energy) Limited

Bowleven announced the completion of the Etinde farm-out transaction and to confirm receipt of the initial $165 million cash proceeds (excludes estimated $5 million working capital adjustment). The farm-out transaction comprised the sale of 30% and 10% interests in the Etinde Permit to LUKOIL and NewAge, respectively, in return for a total consideration of approximately $250 million.

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