Africa Oil Announces Spudding of Bogal-1 Well in Kenya

Monday, Nov 09, 2020

Africa Oil Corp. (TSX VENTURE:AOI) (“Africa Oil” or “the Company”) is pleased to announce that the Bogal-1 oil exploration well on Block 9 operated by CNOOC Limited in the Republic of Kenya spudded on October 28, 2020. The well is expected to reach total depth of 5,500 meters within approximately 6 months.

Block 9 covers an area of 27,778 square kilometers in the centre of the Anza Basin. The Anza Basin is a NW-SE trending rift basin along trend with the prolific Mesozoic play of southern Sudan. The basin is over 580 kilometers long and 150 kilometers wide with a potential prospective area in excess of 50,000 square kilometers. The basin is filled in places with more than 6,000 meters of Mesozoic and Cenozoic sediments and locally by Plio-Pleistocene basalts. Bouger and residual gravity anomalies have highlighted several sub-basins separated by intra-basin highs. Historic wells drilled in the block have proven the existence of natural gas and possibly oil.

The Company currently holds a 30% working interest in Block 9. CNOOC Limited is the operator.

Comments from Keith Hill, President and CEO:

“The Bogal well will be testing a new play concept that has the potential to change how technical workers have previously interpreted East Africa and the potential to place the Republic of Kenya into the ranks of African oil and gas producers. The on-time spud of Bogal reflects tremendous effort and coordination by Operator, CNOOC Limited, and we applaud their efforts to date. I look forward to positive results over the next few months”.

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Somalia and Ethiopia. Africa Oil’s East African holdings are in what is considered a truly world-class exploration play fairway. The Company’s total gross land package in this prolific region is in excess of 200,000 square kilometers – an area roughly the size of Great Britain. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil’s virtually unexplored land position including the major Heritage/Tullow Albert Graben oil discovery in neighboring Uganda. Similar to the Albert Graben play model, Africa Oil’s concessions have older wells, a legacy database, and host numerous oil seeps indicating a proven petroleum system. Good quality existing seismic show robust leads and prospects throughout Africa Oil’s project areas. The Company is listed on the TSX Venture Exchange under the symbol “AOI”.

ON BEHALF OF THE BOARD

Keith Hill, President and CEO


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Source: Marketwire