04
Nov
Ester Mbathera Africa Oil Corp. announced the completion of a strategic farmdown by its investee company, Impact Oil & Gas, in Blocks 2912 and 2913B, known as the Farm Down to TotalEnergies EP Namibia project. The company announced last week that Impact received approximately USD 99 million and retains a 9.5% interest, benefiting from a carry loan to cover remaining costs until the first oil production. Africa Oil president and chief executive, Roger Tucker, said the Farm Down allows the company to retain a funded interest in the Venus development project that is expected to add significant reserves and production…