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Africa Oil Provides an Update for Project Oil Kenya Including a Higher Plateau Production Rate and an Independent Resources Evaluation
Africa Oil Provides an Update for Project Oil Kenya Including a Higher Plateau Production...
About this update from Meren Energy Inc.
[{"type":"text","content":"\n \n \n \n Africa Oil Provides an Update for Project Oil Kenya Including a Higher Plateau Production Rate and an Independent Resources Evaluation\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.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Sept. 15, 2021\n \n /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI)\n \n – Africa Oil Corp.\n \n (\"Africa Oil\", \"AOC\" or the \"Company\") is pleased to provide an update for its\n \n Kenya\n \n development project incorporating Blocks 10BB and 13T (\"Project Oil Kenya\").\n \n PDF Version\n \n \n \n Over the past year, Africa Oil and its JV Partners (Tullow Oil and Total Energies) have completed the redesign of the Project Oil Kenya to ensure it is technically, commercially and environmentally robust. A higher oil production plateau of 120,000 barrels of oil per day is now planned with expected gross oil recovery of 585 million barrels of oil (\"MMbbl\") over the life of the field\n \n 1\n \n . This resource position has been audited by external independent auditor, Gaffney, Cline & Associates (\"GaffneyCline\"). Africa Oil's best (2C) development pending contingent resource on a net working interest basis, derived from GaffneyCline's report is 93 MMbbl\n \n 2\n \n . The estimated unrisked\n \n 3\n \n post-tax net present value, using a 10% discount rate (\"NPV10\"), of\n \n $577 million\n \n is attributable to Africa Oil's net 2C development pending contingent resource base.\n \n \n Africa Oil and its JV Partners have presented a draft Field Development Plan (\"FDP\") to the Government of\n \n ...