Africa Oil: Planning a directed issue, leaving operational update
2015-02-13 06:09
(Resending of news sent for the Stockholm Stock Exchange closing) (SIX) Oil company Africa Oil released on Thursday a press release in which the company announced that it will make a directed issue (private placement) of $ 100 million. Dundee Securities and Pareto handle the issue. In the same press release left the company also informed that they will withdraw from Adigalablocket in Ethiopia, in which ownership share is 10 percent. Furthermore, it will take a write-in the fourth quarter. At the end of the third quarter was the book value of $ 6,000,000 relating Adigala. Africa Oil will also take an impairment in Puntland in Somalia in the fourth quarter. At the end of the third quarter of 2014 Puntland had a book value of $ 91,000,000. At Lokichar South in Kenya However, you should make at least four drilling in the current year. It's Africa Oil has concluded together with its partner Tullow Oil . Furthermore, the extended EWT tests done at s Amosing and Ngamia. Finally, the company issued a forecast of how much cash was at end of the fourth quarter. Africa Oil tracks that checkout was to between 155 and 170 million US dollars. Louise Thorslund mailto: louise.thorslund@six-group.se www.blogg.six.seSIXNews SIX News
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