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Africa Oil Receives Fifth Dividend From Its Nigerian Asset
Africa Oil Receives Fifth Dividend From Its Nigerian Asset Canada NewsWire ...
About this update from Meren Energy Inc.
[{"type":"text","content":"\n\n \n \n \n Africa Oil Receives Fifth Dividend From Its Nigerian Asset\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 \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 26, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 26, 2020\n \n /CNW/ -\n \n (AOI–TSX, AOI–Nasdaq-Stockholm) –\n \n Africa Oil Corp. (\"AOI\", \"Africa Oil\" or \"the Company\") is pleased to announce that it has received its fifth dividend from Prime Oil and Gas B.V. (\"Prime\"), a company that holds interests in deepwater\n \n Nigeria\n \n production and development assets.\n \n View PDF version\n \n .\n \n \n Prime has distributed a\n \n US$50 million\n \n dividend with a net payment to Africa Oil of\n \n US$25 million\n \n related to its 50% interest. The Company will apply\n \n US$12.1 million\n \n of this dividend to reduce the outstanding balance of the BTG term loan to\n \n US$164.8 million\n \n .\n \n \n The Company has received a total dividends amount of\n \n US$162.5 million\n \n since the closing of the Prime acquisition on\n \n 14 January 2020\n \n .\n \n \n \n Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater\n \n Nigeria\n \n ; development assets in\n \n Kenya\n \n ; and an exploration/appraisal portfolio in\n \n Africa\n \n and\n \n Guyana\n \n . The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol \"AOI\".\n \n \n \n This information is information that Africa Oil Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below on\n \n October 26, 2020\n \n at\n \n 5:30 p.m.\n \n \n Toronto\n \n time.\n \n \n \n Forward Looking Information\n \n \n \n Certain statements and information contained herein constitute \"forward-looking information\" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, \"forward looking statements\") relate to future events or the Company's future performance, busines...