Petroleum Africa
Find us on: 
Wednesday, October 30, 2013
Africa Oil Corp. closed its $450 million brokered private placement, previously announced on October 16. An aggregate of 56,505,217 common shares, issued at a price of SEK 51.75 per share for gross proceeds of SEK 2,924,144,980, or $450 million equivalent have been released to investors.
The common shares were placed through a syndicate comprising Citigroup Global Markets Limited, Dundee Securities Europe LLP and Pareto Securities AS, who together acted as joint bookrunners. A cash commission equal to 3% of the gross proceeds of the offering was paid to the Joint Bookrunners.
Net proceeds of the private placement will be used to fund the company’s future exploration, appraisal and development program in East Africa, as well as for corporate development and general working capital purposes.
Subject to applicable securities laws, common shares issued to residents outside of Canada pursuant to the Offering may not be sold, transferred or otherwise disposed of on the TSXV or, except pursuant to an exemption from prospectus requirements under Canadian securities laws, to any person in Canada or otherwise into Canada for a period of four months plus one day from the date of the closing of the offering.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
