Africa Oil Corp.

Africa Oil Corp. announced the repurchase of 815,000 common shares between December 2 and December 6, 2024, as part of two previously announced share buyback programs. The repurchases were conducted on the Toronto Stock Exchange and Nasdaq Stockholm, facilitated by Scotia Capital Inc. and Pareto Securities, respectively. All repurchased shares will be canceled. The previous buyback program, which expired on December 5, 2024, saw a total of 23,987,632 shares repurchased since December 6, 2023. A new buyback program was launched on December 4, 2024, allowing for the repurchase of up to 18,362,364 shares over the next twelve months. Africa Oil Corp. is a Canadian oil and gas company with assets in Nigeria and Namibia, listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol "AOI". The company's statements include forward-looking information subject to risks and uncertainties.

Africa Oil Corp. announced that the Toronto Stock Exchange has approved its normal course issuer bid (NCIB), allowing the company to repurchase up to 18,362,364 of its common shares, representing 5% of its public float, for a total of CAD 35 million. The buy-back program will run from December 6, 2024, to December 5, 2025, or until the maximum number of shares is repurchased. The NCIB aims to reduce the company's capital and will be conducted under European and Canadian regulations. Africa Oil has also set up an automatic share purchase plan to facilitate repurchases during regulatory blackout periods. Any shares repurchased will be canceled. The company had previously purchased 23,346,632 shares under the previous NCIB. Africa Oil views the share repurchase as an effective way to return value to shareholders. The announcement includes forward-looking statements subject to risks and uncertainties, and Africa Oil does not commit to updating these statements. Africa Oil is a Canadian oil and gas company with assets in Nigeria and Namibia, listed on the Toronto Stock Exchange and Nasdaq Stockholm.

Africa Oil Corp. announced the repurchase of 636,300 common shares between November 25 and November 29, 2024, as part of its ongoing share buyback program. This program, initiated on December 4, 2023, is conducted in compliance with relevant EU regulations and the rules of the Toronto Stock Exchange, Nasdaq Stockholm, and applicable Canadian and Swedish laws. Of the shares repurchased, 223,800 were bought on the TSX and 412,500 on Nasdaq Stockholm. Since the start of the program, a total of 23,346,632 shares have been repurchased, with the program allowing for up to 38,654,702 shares to be bought back by December 5, 2024. Following these repurchases, Africa Oil has 441,953,970 common shares outstanding, with 353,700 held in treasury. The company emphasizes that forward-looking statements in its announcements are subject to risks and uncertainties, and actual outcomes may differ. Africa Oil is a Canadian company with assets in Nigeria and Namibia, and is listed on the TSX and Nasdaq Stockholm.

Africa Oil Corp. announced the repurchase of 606,900 common shares from November 18 to November 22, 2024, as part of its ongoing share buyback program. This initiative, launched on December 4, 2023, complies with EU regulations and the rules of the Toronto Stock Exchange, Nasdaq Stockholm, and relevant Canadian and Swedish securities laws. The repurchases were executed by Scotia Capital Inc. and Pareto Securities on the TSX and Nasdaq Stockholm, respectively. Since the program's inception, 22,710,332 shares have been repurchased, with a maximum of 38,654,702 shares allowed by December 5, 2024. All repurchased shares will be canceled. The announcement includes forward-looking statements, which involve various risks and uncertainties. Africa Oil, a Canadian oil and gas company, operates in Nigeria, Namibia, and other African regions, and is listed on the TSX and Nasdaq Stockholm under the symbol "AOI".

Africa Oil Corp. has acquired an additional 7% interest in Impact Oil and Gas Limited, enhancing its ownership to approximately 39.5%. This purchase, under a call and put option agreement from August 2024, involved acquiring 80,160,198 shares at GBP 0.57 per share, totaling GBP 45.7 million (USD 60.4 million). An option purchase cost of GBP 6.4 million (USD 8.4 million) was paid in Q3 2024. The acquisition aims to strengthen Africa Oil's strategic position and influence in Namibia's Orange Basin, particularly in the Venus oil development and ongoing exploration projects. The announcement includes forward-looking statements about future prospects and potential risks, emphasizing that actual outcomes may differ due to various uncertainties. Africa Oil Corp. is a Canadian company with assets in Nigeria and exploration interests in Africa, listed on the Toronto Stock Exchange and Nasdaq Stockholm.

Africa Oil Corp. announced the repurchase of 171,200 common shares on November 15, 2024, as part of its ongoing share buyback program, which began on December 4, 2023. The program complies with EU regulations and the rules of the Toronto Stock Exchange, Nasdaq Stockholm, and relevant Canadian and Swedish laws. On November 15, 2024, 61,200 shares were repurchased in Canada through Scotia Capital Inc., and 110,000 shares on Nasdaq Stockholm through Pareto Securities. All repurchased shares will be canceled. Since the program's inception, 22,103,432 shares have been repurchased, with a maximum of 38,654,702 shares allowed for repurchase by December 5, 2024. The company cautions that forward-looking statements are subject to risks and uncertainties, and actual results may vary. Africa Oil Corp. is a Canadian oil and gas company with assets in Nigeria and exploration interests in Africa.

Africa Oil Corp. announced its financial and operational results for the three and nine months ending September 30, 2024. The company reported a net loss of $289.2 million for the third quarter and a net loss of $285.3 million for the nine months, attributed to a non-cash impairment loss on its investment in Prime due to a decrease in Africa Oil's share price. The company is ahead of schedule to consolidate its ownership in Prime, expecting completion in Q1 2025. This will enhance shareholder returns and allow for an enlarged dividend policy. Africa Oil's cash position was $136.1 million as of September 30, 2024, down from $232.0 million at the end of 2023. The company executed share buybacks and increased its stake in Impact Oil and Gas. Operational highlights include ongoing exploration in Namibia's Orange Basin and increased production efficiencies in Nigeria's Agbami and Egina fields. Africa Oil's forward-looking statements include expectations for strategic and financial benefits from the Proposed Reorganization to consolidate Prime, as well as plans for further exploration and development in its core regions.

Africa Oil Corp., a Canadian oil and gas company, will release its financial and operating results for the three and nine months ending September 30, 2024, after the Toronto market closes on November 13, 2024. A conference call to discuss these results will be held by senior management on November 15, 2024, at 09:00 EST. Participants can access the call via dial-in or webcast, with registration links provided. Africa Oil Corp. has assets in Nigeria and Namibia and is listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol "AOI". For further information, Shahin Amini, Head of Investor Relations and Communications, can be contacted.

Africa Oil Corp. announced that its investee company, Impact Oil & Gas Limited, has completed the farm down of its interests in Blocks 2912 and 2913B offshore Namibia to TotalEnergies EP Namibia B.V. Impact received approximately USD 99 million as reimbursement for costs incurred on the Blocks before January 1, 2024. Impact retains a 9.5% interest in the Blocks and will benefit from a carry loan for remaining development costs until receiving oil production sales proceeds. Africa Oil President and CEO Roger Tucker highlighted the farm down as beneficial for adding reserves and production, and noted its role in meeting a condition for Africa Oil's planned amalgamation with Prime Oil & Gas Coöperatief U.A. Africa Oil aims to increase its shareholding in Impact to 39.5% following a call and put option agreement. An operational update revealed that additional exploration and appraisal wells have been drilled on the Blocks, with further 3D seismic data being processed to evaluate prospects. Block 2913B contains the Venus oil field, discovered in 2022, with TotalEnergies, QatarEnergy, and NAMCOR holding significant interests alongside Impact. Africa Oil is obliged to publish this information under the EU Market Abuse Regulation. The company cautions that forward-looking statements involve risks and uncertainties that may cause actual results to differ.

Africa Oil Corp. announced that the Nigerian Upstream Petroleum Regulatory Commission has renewed Petroleum Mining Lease 52, which includes the Agbami field, for 20 years starting November 24, 2024. The Agbami field, operated by Chevron affiliates, was discovered in 1998 and began production in 2008, reaching peak production in 2009. As of 2023, the field had produced 1,089 million barrels of oil. Africa Oil, which holds a 50% share in Prime Oil & Gas, is set to acquire full ownership of Prime, subject to regulatory approvals and other conditions. The company has disclosed this information as required by EU regulations and noted that forward-looking statements in the announcement are subject to various risks and uncertainties. Africa Oil is a Canadian company with assets in Nigeria and exploration interests in Africa, listed on the Toronto Stock Exchange and Nasdaq Stockholm.