Africa Oil Corp., a Canadian oil company has confirmed that it has received its fourth dividend from Prime Oil and Gas B.V, a company that holds interests in deepwater Nigeria production and development assets.
Prime has distributed a US$50 million dividend with a net payment to Africa Oil of US$25 million related to its 50% interest.
The Company has applied US$17.7 million of this dividend to pay down the BTG term loan, reducing the outstanding balance to US$176.9 million.
“The Company has received a total dividends amount of US$137.5 million since the closing of the Prime acquisition on 14 January 2020,” the company stated in a statement.
Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria; development assets in Kenya; and an exploration/appraisal portfolio in Africa and Guyana.
The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.
By Chibisi Ohakah, Abuja
Be the first to know when we publish an update
