RISC completes YE2022 Reserves reporting for Africa Oil Corp’s Nigerian Assets of Prime Oil and Gas

RISC was commissioned by Africa Oil Corp. to report on the interests it holds in the reserves and contingent resources of Prime Oil & Gas Coöperatief U.A. as part of its financial reporting to the Toronto Stock Exchange (TSX) for year-ending 2022.

The interests include two world-class deep-water blocks in Nigeria, OML 127 and 130.  The portfolio includes three producing fields (Agbami, Akpo and Egina), one development (Preowei), and two undeveloped oil discoveries (Ikija and Egina South).

RISC used its evaluation of the reserves and contingent resources as the basis for reporting. This was in accordance with Canadian National Instrument 51-101 (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (COGE Handbook).

More information can be found via the link: https://africaoilcorp.com/site/assets/files/1743/2023-02-27_aoi_-_annual_information.pdf

Africa Oil is a Canadian oil and gas company with producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration/appraisal assets in various countries in West and South Africa, including Namibia, Guyana and Equatorial Guinea. The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies including Prime Oil & Gas Coöperatief U.A, Africa Energy Corp., Eco (Atlantic) Oil & Gas Ltd. And Impact Oil and Gas Ltd. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.

RISC is a recognised technical specialist with over 25 years’ experience delivering CPRs and Independent Expert services to organisations around the world. Internationally, RISC has completed Competent Person’s Reports and Independent Valuations for interests a variety of countries including the UK, Australia, Denmark, Indonesia, China, Vietnam, Senegal, Tunisia, Nigeria, Equatorial Guinea, Cameroon, .

To view some of our most recent reports please see the public reports section of RISC’s website.

For more information on our report please contact us.