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AFRICA OIL ANNOUNCES FURTHER INVESTMENT IN IMPACT OIL & GAS AND SHARE CAPITAL AND VOTING RIGHTS UPDATE
AFRICA OIL ANNOUNCES FURTHER INVESTMENT IN IMPACT OIL & GAS AND SHARE CAPITAL AND VOTING RIGH...
About this update from Meren Energy Inc.
[{"type":"text","content":"\n \n \n \n AFRICA OIL ANNOUNCES FURTHER INVESTMENT IN IMPACT OIL & GAS AND SHARE CAPITAL AND VOTING RIGHTS UPDATE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n AFRICA OIL ANNOUNCES FURTHER INVESTMENT IN IMPACT OIL & GAS AND SHARE CAPITAL AND VOTING RIGHTS UPDATE\n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 28, 2023\n \n \n /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI)\n \n – Africa Oil Corp.\n \n (\"Africa Oil\", \"AOC\" or the \"Company\") is pleased to announce that it has participated in a\n \n USD 95.0 million\n \n Open Offer by Impact Oil & Gas Limited (\"Impact\"), the privately–owned, African–focused exploration company. The capital raised shall be used towards funding Impact's participating share of the multi-well drilling and testing programme in\n \n Namibia\n \n to further evaluate and appraise the Venus discovery; a world class, light-oil and associated gas field announced in\n \n February 2022\n \n \n 1\n \n .\n \n View PDF version\n \n .\n \n \n Africa Oil is the only publicly-listed Independent E&P company with exposure to the Venus discovery through its strategic 31.1% shareholding in Impact which in turn holds a 20.0% participating interest share in Block\n \n 2913B\n \n (PEL 56) and an 18.9% participating interest share in the adjacent Block 2912 (PEL 91).\n \n \n The Company has made an investment of approximately\n \n USD 31.4 million\n \n and following this placement, Africa Oil's shareholding in Impact has increased to 31.1% from 30.9%. The Company's closing cash balance as at\n \n December 31, 2022\n \n , was\n \n USD 199.7 million\n \n .\n \n \n The proceeds from the Open Offer is intended to be used by Impact to fund its activities in 2023 including:\n \n \n ...