Africa Oil Pipeline Update
Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) (TSX:AOI)(OMX:AOI) announced that following a state visit to Uganda by His Excellency Hon. Uhuru Kenyatta, President of the Republic of Kenya, a joint communiqué from both Governments was issued on 10 August 2015 which stated that “the two Heads of State agreed on the use of the Northern Route i.e. Hoima-Lokichar-Lamu for the development of the crude oil pipeline.”
Keith Hill, President and CEO of Africa Oil, commented,
“We are very pleased that the governments of Kenya and Uganda have agreed on the routing of the export pipeline and look forward to working with all stakeholders to move the joint oil development project forward.
We continue to be encouraged by the appraisal drilling and extended well testing program which has confirmed our original opinion that this is an outstanding project. We believe that there is still significant upside in not only the Lokichar Basin but in new basins yet to be opened and are working with our partner Tullow on a program to unlock this potential.”
Source: Africa Oil Corp.
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