Africa Oil to Commence Trading on TSX on Tuesday, May 6, 2014
May 05 2014 - 1:23PM
Marketwired
Africa Oil to Commence Trading on TSX on Tuesday, May 6, 2014
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 5, 2014) -
Africa Oil Corp. ("Africa Oil" or the "Company")
(TSX-VENTURE:AOI)(OMX:AOI) is pleased to announce that, as of the
market open on Tuesday, May 6, 2014, the Company's common shares
will commence trading on the TSX. The common shares will be
concurrently delisted from the TSX Venture Exchange. The Company's
trading symbol and CUSIP remain the same.
Africa Oil's common shares also currently trade on the NASDAQ
OMX First North and, as with the graduation to the TSX, the Company
intends to apply for a graduation to the NASDAQ OMX Stockholm main
board.
Keith Hill, President and CEO, commented, "The Company has
enjoyed tremendous growth over the past few years as a result of
our multiple major oil discoveries in Kenya. We expect much
continued growth as our exploration continues on our large
prospective land package in Kenya and Ethiopia. Our acreage
encompasses over 215,000 square kilometres and we've really only
just begun to uncover the extent of the oil resources there. It is
timely now to graduate to the senior board of the TSX and apply for
the NASDAQ OMX main board as it will provide greater liquidity for
the Company's shares and allow for a broader shareholder base."
Forward-Looking Statements
Certain statements made 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, business
prospects or opportunities. Forward-looking statements include, but
are not limited to, statements with respect to estimates of
reserves and or resources, future production levels, future capital
expenditures and their allocation to exploration and development
activities, future drilling and other exploration and development
activities, ultimate recovery of reserves or resources and dates by
which certain areas will be explored, developed or reach expected
operating capacity, that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management.
All statements other than statements of historical fact may be
forward-looking statements. Statements concerning proven and
probable reserves and resource estimates may also be deemed to
constitute forward-looking statements and reflect conclusions that
are based on certain assumptions that the reserves and resources
can be economically exploited. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "seek", "anticipate", "plan", "continue",
"estimate", "expect, "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions) are not statements of historical
fact and may be "forward-looking statements". Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. The Company believes that the expectations reflected in
those forward-looking statements are reasonable, but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required by
applicable laws. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in oil
prices, results of exploration and development activities,
uninsured risks, regulatory changes, defects in title, availability
of materials and equipment, timeliness of government or other
regulatory approvals, actual performance of facilities,
availability of financing on reasonable terms, availability of
third party service providers, equipment and processes relative to
specifications and expectations and unanticipated environmental
impacts on operations. Actual results may differ materially from
those expressed or implied by such forward-looking statements.
Africa Oil Corp. is a Canadian oil and gas company with
assets in Kenya and Ethiopia as well as Puntland (Somalia) through
its 45% equity interest in Horn Petroleum Corporation. Africa Oil's
East African holdings are within a world-class exploration play
fairway with a total gross land package in this prolific region in
excess of 215,000 square kilometres. The East African Rift Basin
system is one of the last of the great rift basins to be explored.
Seven new significant discoveries have been announced in the
Northern Kenyan basin in which the Company holds a 50% interest
along with operator Tullow Oil plc. The Company is listed on the
TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm
under the symbol "AOI".
ON BEHALF OF THE
BOARD
Keith C. Hill,
President and CEO
Africa Oil's Certified Advisor on NASDAQ OMX First North is
Pareto Securities AB.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Africa Oil Corp.Sophia ShaneCorporate Development(604)
689-7842(604)
689-4250africaoilcorp@namdo.comwww.africaoilcorp.com
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