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Last €1.89 EUR
Change Today -0.02 / -1.05%
Volume 500.0
AFZ On Other Exchanges
As of 9:11 AM 04/21/15 All times are local (Market data is delayed by at least 15 minutes).

africa oil corp (AFZ) Snapshot

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05/7/14 - €5.96
52 Week Low
04/2/15 - €1.30
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africa oil corp (AFZ) Details

Africa Oil Corp., an oil and gas exploration and development company, owns oil and gas interests in Kenya, Ethiopia, and Puntland. It holds interests primarily in the East African Rift Basin covering an area of approximately 215,000 square kilometers of total gross land package. The company was formerly known as Canmex Minerals Corporation and changed its name to Africa Oil Corp. in August 2007. Africa Oil Corp. was incorporated in 1983 and is headquartered in Vancouver, Canada.

Founded in 1983

africa oil corp (AFZ) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $291.3K
Chief Financial Officer
Total Annual Compensation: $291.3K
Vice President of Exploration
Total Annual Compensation: $291.3K
Vice President of External Relations
Total Annual Compensation: $242.7K
Vice President of Operations
Total Annual Compensation: $166.7K
Compensation as of Fiscal Year 2013.

africa oil corp (AFZ) Key Developments

Africa Oil Corp Announces Changes to Management Team

Africa Oil Corp. announce the following changes to its management team. Nick Walker who is currently Chief Operating Officer will be leaving the Company to join another Lundin Group Company, Lundin Petroleum AB. Nick's role in Lundin Petroleum will be the subject of a separate announcement by Lundin Petroleum. Tim Thomas who joined the Company earlier this year as VP Development, is, with immediate effect, appointed as Chief Operating Officer based in Calgary. Tim has more than 35 years of industry experience and was most recently President and CEO of ArPetrol Ltd. and prior to that spent 18 years with Nexen Inc. While at Nexen, Tim's roles included Senior Vice President Canadian Oil and Gas, Vice President Yemen and International Business Development as well as country manager positions in Yemen and the UK. Tim started his career as a drilling engineer with Texaco North Sea and also spent a period of time with Gulf Canada Resources Limited. Tim is a graduate of Imperial College, London where he obtained a Bachelor of Science Degree in Petroleum Engineering.

Africa Oil Corp - Special Call

To discuss the operations update

Africa Oil Corp. Provides Operational Update on its Exploration Activities in Kenya

Africa Oil Corp. provided an operational update on its exploration activities in Kenya. The company is continuing its extensive exploration and appraisal program in the South Lokichar Basin in Blocks 10BB and 13T, which has the objectives of proving reservoir quality and upgrading the resource estimates with the intent of submitting a Field Development Plan (FDP) to the Government of Kenya around the end of 2015. The SMP-5 rig recently installed production completions in the Amosing-1 and Amosing-2A wells in preparation for an Extended Well Test (EWT) of the field and the rig has now been released. The EWT involves production and injection testing to provide dynamic flow characterization of the Amosing field stacked reservoirs. Both wells have been completed in five zones with hydraulically controlled selective completions that permit independent tests of completed intervals without well intervention. Initial clean-up testing has been completed on both wells with excellent results. The Amosing-1 well flowed at a combined maximum rate of 5,600 barrels of oil per day (bopd) from five zones and the Amosing-2A well flowed at a combined maximum rate of 6,000 bopd from four zones, the fifth zone being in the aquifer. Both wells demonstrated high quality reservoir sands and flowed 31 to 38 degrees API dry oil under natural flow. Pressure data during the initial clean-up flows shows connectivity between the two completed wells in the upper three zones with further production testing required to test connectivity in the lower two zones. These findings support the static pressure data which indicated connectivity between the Amosing-1, 2, 2A and 3 wells in multiple zones. The Amosing EWT forward program is to conduct longer-term flow and water injection tests, commencing mid-March with results expected in the second quarter of this year. Planning is also underway to conduct an EWT of the Ngamia field. Following completion of the Amosing-4 well the rig will mobilize back to the Ngamia field to drill and complete the Ngamia-8 well, located in the centre of the eastern fault block between the Ngamia-3, 5, 6 and 7 wells, and will be the main production well for the EWT. The 2015 work program will include multiple appraisal and exploration wells in the South Lokichar Basin, EWT's in the Amosing and Ngamia fields and reservoir and engineering studies (including extensive core analysis).


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