Africa Oil Announces Third Quarter Outcomes. News provided

Africa Oil Announces Third Quarter Outcomes. News provided

About Africa Oil

Africa Oil Corp. is an oil that is canadian gasoline business with creating and development assets in deepwater Nigeria ; development assets in Kenya ; as well as an exploration/appraisal profile in Africa and Guyana . The business is noted on the Toronto stock market as well as on Nasdaq Stockholm underneath the expression “AOI”.

Extra Information

These details is information that Africa Oil is obliged which will make general public pursuant to the EU marketplace Abuse Regulation. The info ended up being submitted for book, through the agency regarding the contact individuals put down above, at 5:30 p.m. Eastern Time.

Advisory Regarding Oil and Gas Ideas

The terms boe (barrel of oil equivalent) and MMboe (an incredible number of barrels of oil equivalent) are utilized throughout this pr release. Such terms may be deceptive, particularly if found in isolation. Year-end reserves estimates are derived from a transformation ratio of five thousand and eight hundred feet that are cubic barrel (5.85 Mcf: 1bbl). This transformation ratio is dependent on a power equivalency transformation technique primarily relevant during the burner tip and will not express a value equivalency in the wellhead. Considering that the value ratio on the basis of the present cost of crude oil when compared with gas that is natural dramatically distinct from the power equivalency of 5.85:1, employing a transformation on a 5.85:1 foundation are misleading as an illustration of value.

Ahead Searching Information

Specific statements and information included herein constitute “forward-looking information” (within this is of relevant Canadian securities legislation). Such statements and information (together, “forward searching statements”) connect with future activities or perhaps the organization’s future performance, company leads or possibilities.

All statements apart from statements of historic reality could be forward-looking statements. Statements concerning proven and likely reserves and resource quotes are often considered to represent forward-looking statements and mirror conclusions which can be predicated on specific presumptions that the reserves and resources may be economically exploited. Any statements that express or include conversations with regards to predictions, objectives, values, plans, projections, goals, presumptions or future occasions or performance (frequently, not constantly, making use of terms or expressions such as for example “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and comparable expressions) aren’t statements of historic reality that can be “forward-looking statements”. Forward-looking statements involve understood and unknown dangers, ongoing uncertainties as well as other facets which will cause real outcomes or occasions to differ materially from those expected such forward-looking statements, including statements related to the Management Guidance production that is including cashflow from procedure and money investment quotes, performance of commodity hedges, the outcome and expenses of exploratory drilling task, uninsured dangers, regulatory and financial modifications, accessibility to materials and gear, unanticipated environmental effects on operations, length of this drilling system, accessibility to alternative party providers and defects in name. No assurance could be considering the fact that these objectives will end up being proper and such statements that are forward-looking never be unduly relied upon. The organization doesn’t intend, and will not assume any responsibility, to upgrade these statements that are forward-looking except as needed by relevant rules. These forward-looking statements include dangers and uncertainties associated with, on top of other things, alterations in macro-economic conditions and their effect on operations, alterations in oil rates, reservoir and manufacturing center performance, hedging counterparty contractual performance, OPEC+ quota effect on manufacturing, accessibility to oil tankers, link between research and development tasks, expense overruns, uninsured dangers, regulatory and financial modifications, defects in title, claims and appropriate procedures, option of materials and gear, option of skilled workers, timeliness of federal federal government or any other regulatory approvals, real performance of facilities, jv partner underperformance, accessibility to funding on reasonable terms, option of alternative party providers, gear and operations in accordance with specs and objectives and unanticipated ecological, safe practices effects on operations. Real outcomes may vary materially from those expressed or suggested by such forward-looking statements.

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For more information: Shahin Amini, IR and Commercial Manager, [email protected]; Sophia Shane, business Development, [email protected], T