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Last C$2.55 CAD
Change Today -0.07 / -2.67%
Volume 96.5K
AOI On Other Exchanges
Symbol
Exchange
OTC US
Stuttgart
As of 3:59 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

africa oil corp (AOI) Snapshot

Open
C$2.54
Previous Close
C$2.62
Day High
C$2.61
Day Low
C$2.51
52 Week High
05/7/14 - C$9.00
52 Week Low
03/31/15 - C$1.80
Market Cap
950.2M
Average Volume 10 Days
285.8K
EPS TTM
C$0.12
Shares Outstanding
372.6M
EX-Date
--
P/E TM
17.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for AFRICA OIL CORP (AOI)

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africa oil corp (AOI) 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 (AOI) 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 (AOI) Key Developments

Africa Oil Corp. Provides the Update on the Appraisal Program in the South Lokichar Basin

Africa Oil Corp. provided the update on the appraisal program in the South Lokichar Basin. In Kenya, the extensive appraisal program in the South Lokichar Basin continues. The Amosing -1 and Amosing -2 wells have been completed in five zones with hydraulically controlled completions that permit independent tests of selected intervals without well intervention in preparation for an Extended Well Test (EWT) of the field. Initial rig-less flow testing during clean-up at a combined maximum rate of 5,600 and 6,000 bopd respectively exceeded expectations, demonstrating high quality reservoir sands which flowed 31 to 38 degree API dry oil under natural conditions. The EWT involves production and water injection testing to enable dynamic flow characterisation between wells in the Amosing stacked oil reservoirs. The full EWT will commence shortly and results are expected over the next few months. The Amosing-4 appraisal well was drilled on the flank of the field and successfully encountered 27 metres of net oil pay in thick upper reservoir zones proving the significant down-dip extent of the field. Elsewhere in the Lokichar basin, the Ekales-2 appraisal well reached a total depth of 4,059 metres and encountered an estimated 60-100 metres of net oil pay in the primary shallower objectives. This highly deviated well was also deepened to test the basin centre stratigraphic play where it intersected sandstones with elevated pressures and 50 metres of oil bearing sands, however operating conditions precluded logging and confirmation of any oil pay in this section. This was the first test of this exploration target and is very positive for the future upside potential of the South Lokichar basin above the significant oil resources already discovered. The Ngamia-7 appraisal well was drilled to test the Ngamia oil field's eastern flank and encountered up to 130 metres of net oil pay, expanding the proven extent of the field. The Ngamia-8 appraisal was drilled and encountered up to 200 metres of net oil pay in line with pre-drill expectations. The well was positioned in the centre of the Ngamia structure and static pressure data indicates the well is in pressure communication with the oil discovered in the neighbouring Ngamia-1A, Ngamia-3, Ngamia-5, Ngamia-6 and Ngamia-7 wells. Ngamia -8 will be completed as part of the Ngamia field EWT planned for mid-year which will also include the Ngamia-3 and Ngamia-6 wells. The extensive appraisal activities in Kenya, including the planned EWT, along with the development concept studies completed in 2014 will enable a draft Field Development Plan (FDP) to be prepared by end 2015. The current ambition of the joint venture partnership is to position the East Africa project, which will include the development of South Lokichar and Tullow's Lake Albert resources and an export pipeline, for possible sanction by the end of 2016, subject to receipt of all necessary permits and approvals. Good progress continues to be made towards development of these oil resources and as part of the ongoing collaboration between the Governments of Kenya and Uganda on the oil export pipeline, a joint technical adviser was appointed in late 2014. The independent technical studies being undertaken by the adviser, with extensive support from the Kenya and Uganda upstream partners, are progressing rapidly and should assist in the finalisation of the pipeline route.

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

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Price/Cash Flow 37.5x
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