{"id":3034,"date":"2015-06-01T11:30:53","date_gmt":"2015-06-01T11:30:53","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3034"},"modified":"2015-06-01T11:30:53","modified_gmt":"2015-06-01T11:30:53","slug":"africa-oil-closes-us100-million-financing-east-africa-program","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-closes-us100-million-financing-east-africa-program\/","title":{"rendered":"Africa Oil Closes US$100 Million Financing To East Africa Program"},"content":{"rendered":"

Africa Oil has announced that it has closed the US$100,000,000 non-brokered private placement previously announced pursuant to an Investment Agreement dated May 1, 2015<\/a> have been released to Stampede Natural Resources S.\u00e0 r.l. <\/span><\/p>\n

Stampede, an entity owned by a fund advised by Helios Investment Partners LLP now holds approximately 12.37% of the issued and outstanding common shares of the Company Africa Oil.<\/span><\/p>\n

Also pursuant to the Investment Agreement, Andrew Bartlett, Oil and Gas Partner at Helios, has been appointed as Helios’ nominee to the Africa Oil board of directors with Stampede also been granted certain rights, including the right to participate for its pro-rata share in future financings.<\/span><\/p>\n

Net proceeds of the private placement will be used towards the Company’s ongoing appraisal and development work program<\/a> in East Africa.<\/span><\/p>\n

Africa Oil Corp has assets in Kenya and Ethiopia as well as Puntland (Somalia) through its equity interest in Africa Energy Corp formerly Horn Petroleum. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa Oil has announced that it has closed the US$100,000,000 non-brokered private placement previously announced pursuant to an Investment Agreement dated May 1, 2015 have been released to Stampede Natural … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":2526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[70,3263,3265,671,809,3264,1252,1445,2102],"class_list":["post-3034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-africa-oil","tag-appraisal-drilling","tag-development-work","tag-east-africa","tag-ethiopia","tag-helios-investment","tag-kenya","tag-lokichar-basin","tag-puntland","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/africa-oil-logo.jpg?fit=400%2C400&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-MW","jetpack-related-posts":[{"id":2874,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-recieves-us100-million-financing-finance-appraisal-development-work-program-east-africa\/","url_meta":{"origin":3034,"position":0},"title":"Africa Oil Receives US$100 Million To Finance Appraisal And Development Work Program In East Africa.","author":"","date":"May 4, 2015","format":false,"excerpt":"Africa Oil has announced that it has entered into an investment agreement with Stampede Natural Resources S.a.r.l. an entity owned by a fund advised by Africa-focused investment firm Helios Investment Partners LLP to sell, on a non-brokered private placement basis, 52,623,377 of its common shares at a price of CAD\u2026","rel":"","context":"In "Profile"","block_context":{"text":"Profile","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/profile\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/africa-oil-logo.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10321,"url":"https:\/\/www.oilnewskenya.com\/index.php\/starsight-energy-expands-into-east-africa\/","url_meta":{"origin":3034,"position":1},"title":"Starsight Energy Expands into East Africa","author":"","date":"May 12, 2021","format":false,"excerpt":"Starsight Energy is delighted to announce its expansion into East Africa via the acquisition of a 50% stake in the East African operations of Premier Solar Group, a market-leading Commercial & Industrial (C&I) solar company with a focus on Sub-Saharan Africa and South Asia. The transaction will see the creation\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Solar-PV.jpg?fit=929%2C616&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":818,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oilfield-logistics-granted-option-to-acquire-ardan-logistics-kenya\/","url_meta":{"origin":3034,"position":2},"title":"Africa Oilfield Logistics granted option to acquire Ardan Logistics Kenya","author":"Samuel Kamau Mbote","date":"March 28, 2014","format":false,"excerpt":"Africa Oilfield Logistics, the investment company established to invest in the oil and gas logistics support industry in sub-Saharan Africa, has entered into a framework and option agreement pursuant to which: overseen by Africa Oilfield, Ardan Risk & Support Services , the oilfield logistics and support services business with operations\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/ardan.jpg?fit=341%2C224&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10479,"url":"https:\/\/www.oilnewskenya.com\/index.php\/san-leon-conditionally-acquires-further-interest-option-in-new-nigerian-oil-export-system\/","url_meta":{"origin":3034,"position":3},"title":"San Leon Conditionally Acquires Further Interest & Option in New Nigerian Oil Export System","author":"","date":"June 24, 2021","format":false,"excerpt":"San Leon has announced a conditional investment of US$2 million as well as an option to conditionally invest a further US$6.5 million in the equity of Energy Link Infrastructure (Malta) Limited (ELI), the company which owns the Alternative Crude Oil Evacuation System (ACOES) project. The equity being conditionally purchased and\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5980,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-maersk-agree-payment-terms-following-2016-farmout\/","url_meta":{"origin":3034,"position":4},"title":"Africa Oil, Maersk Agree on Payment Terms Following 2016 Farmout","author":"","date":"May 22, 2017","format":false,"excerpt":"Africa Oil has reported\u00a0that further to the previously announced\u00a0farmout agreement between Africa Oil and Maersk Olie og Gas A\/S (Maersk) on 4th February 2016, the companies have agreed to payment terms related to the US $75 million advance development carry. According to the announcement Africa Oil is due to receive\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/11\/Africa-Oil-East-Africa-acreage.png?fit=399%2C498&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10492,"url":"https:\/\/www.oilnewskenya.com\/index.php\/eco-atlantic-raises-4-9m-to-fund-drilling-in-orinduik-block\/","url_meta":{"origin":3034,"position":5},"title":"Eco Atlantic Raises $4.9M to Fund Drilling in Orinduik Block","author":"","date":"June 28, 2021","format":false,"excerpt":"Eco (Atlantic) Oil & Gas has announced that it has completed, subject to TSX Venture Exchange\u00a0approval, a private placement with strategic partner Africa Oil Corp. and Charlestown Energy, a Private Equity firm based in New York, USA, to raise approximately 6.1m CAD. 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