Kostolanys Erbe schrieb am 14.11.2017, 23:59 Uhr[/url]"]
Africa Oil has operating expenses of $2.3-million in Q3
2017-11-14 17:41 ET - News Release
Mr. Keith Hill reoprts
AFRICA OIL 2017 THIRD QUARTER FINANCIAL AND OPERATING RESULTS
Africa Oil Corp. has released its financial and operating results for the three and nine months ended Sept. 30, 2017.
As at September 30, 2017, the Company had cash of $423.9 million and working capital of $443.1 million as compared to cash of $463.1 million and working capital of $435.0 million at December 31, 2016. During the second quarter of 2017, further to the previously announced farmout agreement (press release 4th February 2016), the Company and Maersk agreed to payment terms related to the $75.0 million advance development carry. Africa Oil is due to receive equal quarterly payments of $18.75 million at the end of each calendar quarter during 2018. These proceeds were recognized in accounts receivable ($56.2 million current and $18.8 million long term) and intangible exploration assets during 2017.
The 2017 exploration and appraisal drilling campaign in Blocks 10BB and 13T (Kenya) concluded subsequent to the end of the third quarter, following the drilling of the Amosing-7 appraisal well. The PR Marriott Rig-46 has been demobilized. Two discoveries were made during the campaign.
In January 2017, the Erut-1 well resulted in a discovery, proving that oil has migrated to the northern limit of the South Lokichar basin. The second discovery was made during May 2017, at Emekuya-1, encountering significant oil sands, demonstrating oil charge across an extensive part of the Greater Etom structure and further de-risking the northern area of the basin.
The Etiir-1 exploration well, which targeted a large, shallow, structural closure immediately to the west of the Greater Etom structure, spudded in late June and was unsuccessful with no material reservoir development or shows encountered. Although dry, drilling results will be utilized in defining the westerly extent of the Greater Etom Structure. The Etiir-1 well has been plugged and abandoned.
The Ekales-3 well was drilled to a total measured depth of 2,721 meters and finished drilling during the third quarter of 2017. The well targeted an undrilled fault block adjacent to the Ekales field. While reservoir and oil shows were encountered, and oil sampled, the well was deemed non-commercial.
Multiple appraisal wells have been drilled in the Ngamia, Amosing and Etom fields during 2017: Ngamia-10 (65 meters of net oil pay), Amosing-6 (35 meters of net oil and gas pay), Amosing-7 (25 meters of net oil and gas pay) and Etom-3 (25 meters of net oil and gas pay). An extensive wireline evaluation program, including sampling has been undertaken on all appraisal wells. The Ngamia-10, Amosing-6 and 7 and Etom-3 wells have all improved the definition of the limits of their respective fields. However, the presence of rift edge facies has limited their net pay. These drilling results will be incorporated into the geological models that will be utilized for potential fields development plans.
The Auwerwer and Lokone reservoirs in the Etom-2 well were tested utilising artificial lift and flowed at 752 bopd and 580 bopd respectively which was lower than anticipated. As a result, the Joint Venture Partners will undertake further technical work to assess how representative the tests may have been and identify potential options to increase flow rates from the Etom field.
Activity will now move to focus on collecting dynamic field data through extended production and water injection testing. The Ngamia-11 appraisal well (143 meters of net oil pay) has been completed and will be utilized in a waterflood pilot test planned for the first half of 2018. The waterflood pilot will include the previously drilled Ngamia 3, 6 and 8 wells. This pilot is designed to deliver a long-term assessment of the rate of enhanced oil recovery that may be expected as a result of water injection. The waterflood pilot follows up the successful water injection testing program which was completed during the first half of 2017 on the Ngamia and Amosing fields. Additionally, the partnership aims to initiate extended well testing on wells in the Amosing and Ngamia fields, commencing in the first quarter of 2018. Produced oil from testing will be stored and is planned to be transported as part of the Early Oil Production Scheme (EOPS). This scheme will initially entail the evacuation of stored crude oil to Mombasa by road, and first production from EOPS is now expected to commence in the first half of 2018, subject to receiving the necessary consents and approvals.
In addition to the drilling and operational activities to support the Final Investment Decision ("FID") for the Kenya Full Field Development, engineering studies and contracting activities are under way in preparation for the start of the Front End Engineering Design ("FEED"), which are expected to take place during 2018. The Joint Venture Partners are continuing optimization of the development plans that will allow field and pipeline infrastructure to move forward while limiting upfront capital spend.
A Joint Development Agreement ("JDA"), setting out a structure for the Government of Kenya and the Kenya Joint Venture Partners to progress the development of the export pipeline, was signed on 25 October 2017. The JDA allows important studies to commence such as FEED, Environmental and Social Impact Assessments ("ESIA"), as well as studies on pipeline financing and ownership.
Africa Oil Corp. has a 25% working interest in Blocks 10BB and 13T with Tullow Oil plc (50% and Operator) and Maersk Olie og Gas A/S (25%) holding the remaining interests.
During this period the partnership informed the Government of Kenya of its intention to enter the Second Additional Exploration Period on Block 10BA.
2017 Third Quarter Financial Results
Results of Operations
(Thousands United States Dollars)
(unaudited)
Three months Three months Nine months Nine months
ended ended ended ended
September September September September
(thousands) 30, 2017 30, 2016 30, 2017 30, 2016
Salaries and benefits $ 419 $ 435 $ 989 $ 1,264
Equity-based compensation 740 774 1,871 2,250
Travel 262 259 576 685
Office and general 353 64 442 143
Donation - 350 850 1,000
Depreciation 26 5 78 8
Professional fees 76 82 455 1,471
Stock exchange and filing fees 161 202 467 602
Share of loss from equity investment 272 334 884 1,068
Operating expenses $ 2,309 $ 2,505 $ 6,612 $ 8,491
Operating expenses decreased $0.2 million during the third quarter of 2017 compared to the same period in 2016. Office and general expenses increased by $0.2 million during the three months ended September 30, 2017 compared to the same period in 2016 which primarily relates to an increase in consulting fees associated with the corporate activities within the Company. The increase was offset by a decrease in donations as the Company made a donation of $0.4 million during the third quarter of 2016 while no donations were made during the third quarter of 2017.
Operating expenses decreased $1.9 million during the nine months ended September 30, 2017 compared to the same period in 2016. The $1.0 million decrease in professional fees relates to the completion of the farmout transaction with Maersk during the first quarter of 2016 compared to a lower fee associated with the settlement of the advance development carry with Maersk during 2017. Salaries and benefits decreased $0.3 million during 2017 compared to the same period in 2016 which is primarily due to the recovery of costs relating to the secondment of an employee and a reduced headcount. Equity-based compensation expense decreased by $0.4 million which can be mainly attributed to the decrease in the number of stock options granted in prior periods and the vesting of costs associated with options granted during 2014 being fully amortized by the end of 2016. There were no options granted during the nine months ended September 30, 2017 and 2016. The Company's share of losses from the equity investment in Africa Energy decreased by $0.2 million during the nine months ended September 30, 2017. The decreases were offset by an increase in office and general expenses of $0.3 million which primarily relates to an increase in consulting fees associated with the corporate activities within the Company.
Financial income and expense is made up of the following items: (Thousands of United States Dollars)
(unaudited)
Three months Three months Nine months Nine months
ended ended ended ended
September 30, September 30, September 30, September 30,
2017 2016 2017 2016
Interest and other income $ 1,288 $ 925 $ 2,859 $ 2,136
Bank charges (6) (10) (27) (27)
Foreign exchange gain (loss) 83 (3) 45 (58)
Finance income $ 1,371 $ 925 $ 2,904 $ 2,136
Finance expense $ (6) $ (13) $ (27) $ (85)
The Company holds the vast majority of its cash on hand in US dollars, the Company's functional currency. Interest Income fluctuates in accordance with cash balances, the currency that the cash is held in, and prevailing market interest rates.
The Company's unaudited consolidated financial statements, notes to the financial statements, management's discussion and analysis for the three and nine months ended September 30, 2017 and 2016, and the 2016 Annual Information Form have been filed on SEDAR (www.sedar.com) and are available on the Company's website (www.africaoilcorp.com).
About Africa oil
Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI".
Additional Information
The information in this release is subject to the disclosure requirements of Africa Oil Corp. under the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was publicly communicated on November 14, 2017 at 2:30 p.m. Pacific Time.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C:AOI-2531230&symbol=AOI®ion=C
Africa Oil to acquire 19.77% stake in Eco (Atlantic)
2017-11-13 07:29 ET - News Release
Mr. Keith Hill of Africa Oil reports
AFRICA OIL AND ECO (ATLANTIC) OIL AND GAS ANNOUNCE STRATEGIC PARTNERSHIP
Africa Oil Corp. has entered into a strategic partnership with Eco (Atlantic) Oil and Gas Ltd. for exploration in West Africa and Guyana. Under the terms of an investment agreement, AOC has agreed to acquire a 19.77-per-cent shareholding in Eco through the purchase, by way of private placement, of 29.2 million common shares at 48 cents per share for a total consideration of $14.0-million (approximately $10.9-million (U.S.)). The investment agreement also provides the company with the right to participate in any future Eco equity issuances, on a pro rata basis, and to appoint one nominee to Eco's board of directors. Keith Hill, president and chief executive officer of Africa Oil, will join the Eco board of directors as soon as practicable.
As part of the investment agreement, the parties have also entered into a strategic alliance agreement (SAA), whereby they will jointly pursue new exploration projects. Pursuant to the terms of the SAA, Africa Oil will be entitled to bid jointly on any new assets or ventures proposed to be acquired by Eco, on the same terms as Eco and for an interest at least equal to the company's percentage holding of the common shares in Eco from time to time. Additionally, under the terms of the SAA, Africa Oil will also have a right of first offer on the farmout of exploration properties currently held by Eco.
Eco has been able to assemble an extensive exploration portfolio in two countries that are at the forefront of exploration, including four blocks in Namibia and one block in Guyana. The Namibia blocks are located in an area of proven source rocks and large, seismically defined stratigraphic traps where upcoming wells by neighboring operators will be drilled in the near future to derisk the play. In Guyana, Eco holds a block directly updip from the Stabroek block on which Exxon estimates resources of 2.5 billion to 2.8 billion oil equivalent barrels, including the supergiant Liza field. The Eco block exhibits good evidence of slope fan prospects and is expected to be fully delineated after processing and interpretation of the 2,550-squqare-kilometre 3-D seismic survey recently completed in September. Eco also recently announced it has entered into an option agreement for a farmin by Total on this Guyana acreage.
This new investment is a good complement to the company's existing investment in Africa Energy Corp., in which the company holds a 28.5-per-cent shareholding interest. AFE holds blocks in Namibia adjacent to the Eco acreage and a block offshore South Africa. Together, the two companies represent significant holdings in several of the most attractive exploration areas in the world.
Mr. Hill commented: "We are very excited to be joining this talented group of explorers who have been able to secure top quality blocks in prime exploration areas. We look forward to realizing the value of this acreage and believe we will be able to play a positive role in the expansion of their portfolio. The pace of exploration is increasing in these regions with large indepedents and even supermajors taking big acreage positions with aggressive drilling plans over the next few years. This alliance will help us take advantage of this upswing in activity."
PillarFour Securities LLP is acting as financial adviser to Africa Oil in connection with the transaction.
About Africa Oil Corp.
Africa Oil is a Canadian oil and gas company with assets in Kenya and Ethiopia, including the South Lokichar basin (25-per-cent working interest in blocks 10BB and 13T), where the company and its joint venture partners are undertaking activities aimed at sanctioning development.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aAOI-2529877&symbol=AOI®ion=C
[url=https://peketec.de/trading/viewtopic.php?p=1792260#1792260 schrieb:
Kostolanys Erbe schrieb am 09.11.2017, 20:44 Uhr[/url]"]Ja, andere Ölwerte machen mehr Freude! Z.B. FRU
Hätte auch so gehandelt. Konsequent sein an der Börse!
[url=https://peketec.de/trading/viewtopic.php?p=1792062#1792062 schrieb:
greenhorn schrieb am 09.11.2017, 10:37 Uhr[/url]"]
AOI - verkauft zu 1,03; die letzte News überzeugt mich nicht, vielleicht sehe ich es falsch.....aber überzeugend ist was anderes
[url=https://peketec.de/trading/viewtopic.php?p=1791291#1791291 schrieb:
greenhorn schrieb am 07.11.2017, 14:59 Uhr[/url]"]
AOI - "fast" wie erwartet, nach meinem Einstieg erstmal runter
, aber nun sieht es deutlich besser aus; über 1,65 CAD locken einige noch offene GAP´s
[url=https://peketec.de/trading/viewtopic.php?p=1789414#1789414 schrieb:
greenhorn schrieb am 30.10.2017, 18:51 Uhr[/url]"]das sieht nun gut aus, Kaufsignal, Long zu 1,10 Euro
[url=https://peketec.de/trading/viewtopic.php?p=1789404#1789404 schrieb:
Kostolanys Erbe schrieb am 30.10.2017, 16:54 Uhr[/url]"]Volumen!!!
» zur Grafik
[url=https://peketec.de/trading/viewtopic.php?p=1783514#1783514 schrieb:
Kostolanys Erbe schrieb am 02.10.2017, 20:39 Uhr[/url]"]Ja, sieht charttechnisch so aus -> Jahrestief 1,65 CAN$....letzter Ölpreisanstieg verhalf auch nicht zum Anstieg...
» zur Grafik
Charttechnisch untere offene Gaps aus 2003 und 2004 um +- 0,50 CAN$ offen.
Offene Gaps nach oben gibt es aber auch noch so einige.....
[url=https://peketec.de/trading/viewtopic.php?p=1783467#1783467 schrieb:
greenhorn schrieb am 02.10.2017, 16:59 Uhr[/url]"]Verkauf zu 1,13 - Verlauf läßt zu wünschen übrig, bleibt WL , scheint eher nochmal tiefer abzutauchen
[url=https://peketec.de/trading/viewtopic.php?p=1780072#1780072 schrieb:
greenhorn schrieb am 15.09.2017, 09:41 Uhr[/url]"]
AOI - gestern recht schwunghafter Handel, steifendes Volumen, offenes GAP bei 1,90 CAD
[url=https://peketec.de/trading/viewtopic.php?p=1779730#1779730 schrieb:
Sltrader schrieb am 14.09.2017, 10:53 Uhr[/url]"]
» zur Grafik
[url=https://peketec.de/trading/viewtopic.php?p=1779727#1779727 schrieb:
greenhorn schrieb am 14.09.2017, 10:49 Uhr[/url]"]kann den Chart nicht reinstellen - stehen aber kurz vorm Kaufsignal 8)
[url=https://peketec.de/trading/viewtopic.php?p=1778337#1778337 schrieb:
Sltrader schrieb am 08.09.2017, 11:22 Uhr[/url]"]die hab ich mal recht eifrige im bereich 7-8 Dollar gehandlt :shock:
[url=https://peketec.de/trading/viewtopic.php?p=1778300#1778300 schrieb:
greenhorn schrieb am 08.09.2017, 10:27 Uhr[/url]"]
AOI - mal ne Kleinigkeit Long zu 1,17 Euro
[url=https://peketec.de/trading/viewtopic.php?p=1778189#1778189 schrieb:
Kostolanys Erbe schrieb am 07.09.2017, 22:23 Uhr[/url]"]Africa Oil Receives One Year License Extension in Ethiopia’s Rift Basin Block
Rift Basin Block operator Africa Oil has announced that the Ethiopian Ministry of Mines, Petroleum and Natural Gas has awarded the Canadian company a one year extension to the block license which will now expire in February 2018.
The extension is intended to allow the operator time to pursue its drilling options after completing 2D seismic acquisition of a 600 kilometer land and lake survey in the third quarter of 2015 which identified source rock outcrops and oil slicks on the lakes in the block where there was previously no existing seismic or wells.
The seismic also identified Ngamia-style structures reachable from shore as well as large structures offshore could provide materiality once basin is ‘proven’.
The explorer is also expected in the meantime to seek for a joint venture partner following the departure of American explorer Marathon Oil which had acquired a 50% interest in the Rift Basin Area in 2014.
This is the second extension after the Government of Ethiopia granted a twelve month extension to the initial exploration period last year, which expired in February 2017.
The Rift Basin Area covers 42,519 square kilometres and is on trend and extending to the northeast of the highly prospective blocks in the Tertiary rift valley including the South Omo Block, and Kenyan Blocks 10BA, 10BB, 13T, and 12
http://www.oilnewskenya.com/africa-oil-receives-one-year-license-extension-ethiopias-rift-basin-block/
sieht gut aus. auf dem Weg Richtung Hoch bei ~ 2$ 
Guten Morgen! 
das ist aber ne Hausnummer
genau das hält mich im Moment ab und die letzten nicht so dollen Ergebnisse 
