VANCOUVER, BC, Oct. 4, 2023
/CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil
Corp. ("Africa Oil", "AOC" or the "Company") is pleased to
announce the strategic recruitment of two highly-experienced energy
executives to strengthen its leadership team. View PDF Version
Dr Oliver Quinn has been
appointed Senior Vice President of Corporate Development and joins
the Company from Kosmos Energy. Ms. Joanna
Kay has been appointed General Counsel and Corporate
Secretary and joins the Company from BW Energy.
They will report directly to Africa Oil's President and CEO,
Dr Roger Tucker, who
commented: "I am delighted that our company can attract
such high-calibre talent as Oliver and Joanna. They bring a wealth
of experience and knowledge to our organization, with specific
experience which will be central to the development of our business
going forward. They will be key members of our leadership team and,
as part of that team, will lead on the planning and delivery of our
strategic objectives. We have an excellent business supported by
four pillars of: debt-free balance sheet and significant liquidity;
high netback production; attractive organic development
opportunities offshore Nigeria;
and the world-class Venus oil discovery offshore Namibia. These present us with tremendous
strategic optionality and we are well positioned to deliver
the next phase of value creation."
Dr Quinn brings 20 years' experience in the oil and gas industry
across technical, commercial and executive leadership roles. He
began his career as a geologist for Shell before moving to the
independent sector in a variety of private equity startup, mid-size
and large E&P companies. Dr Quinn has worked extensively across
Africa, Americas, Asia and Europe in business development and asset
leadership building and managing significant oil and gas portfolios
through exploration, development and production. Most recently he
was a member of the Senior Leadership Team at Kosmos Energy
with a focus on strategy and M&A across Africa and the US. Prior to that he was a
member of the Executive and Investment committees at Ophir Energy
responsible for the Africa
business unit and global organic growth. Dr Quinn holds a BSc in
Geology from the University of Manchester, a PhD in Geoscience from the
University of Edinburgh and executive
leadership qualifications from London Business
School and Harvard Business
School.
Ms. Joanna Kay will join the
company in late Q4 2023. Ms. Kay is a senior lawyer with over 15
years' experience in the oil and gas industry across a wide range
of international jurisdictions. She will join from BW Energy
where she is VP, Associate General Counsel and Company Secretary.
She also has considerable experience both in private practice
with Orrick, Herrington & Sutcliffe, Andrews Kurth and
Ashurst and as a lawyer with Tullow Oil plc. Her background
includes advising on all aspects of the hydrocarbons industry and
she has worked across Africa,
South America, Europe and the Middle East with a particular focus on
transactions and M&A, joint ventures, financing,
commercial and contract law. Ms. Kay holds an MA in History from
the University of Cambridge and is a
qualified Solicitor in England and
Wales.
About Africa Oil
Africa Oil Corp. is a Canadian oil and gas company with
producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio
in west and south of Africa, as
well as Guyana. The Company is
listed on the Toronto Stock Exchange and on Nasdaq Stockholm under
the symbol "AOI".
Forward-Looking
Information
Certain statements and information contained herein constitute
"forward-looking information" (within the meaning of applicable
Canadian securities legislation). Such statements and information
(together, "forward-looking statements") relate to future events or
the Company's future performance, business prospects or
opportunities.
All statements other than statements of historical fact may be
forward-looking statements. Statements concerning proven and
probable reserves and resource estimates may also be deemed to
constitute forward-looking statements and reflect conclusions that
are based on certain assumptions that the reserves and resources
can be economically exploited. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "seek", "anticipate", "plan", "continue",
"estimate", "expect, "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions) are not statements of historical
fact and may be "forward-looking statements". Forward-looking
statements involve known and unknown risks, ongoing uncertainties
and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements, including statements pertaining production, schedules
and costs of exploratory drilling and appraisal activity including
those offshore Namibia, commercial
field development of the Venus oil discovery offshore Namibia, uninsured risks, regulatory and
fiscal changes, availability of materials and equipment,
unanticipated environmental impacts on operations, duration of the
drilling program, availability of third party service providers and
defects in title. No assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon. The Company does not intend, and does
not assume any obligation, to update these forward-looking
statements, except as required by applicable laws. These
forward-looking statements involve risks and uncertainties relating
to, among other things, changes in macro-economic conditions and
their impact on operations, changes in oil prices, reservoir and
production facility performance, hedging counterparty contractual
performance, results of exploration and development activities,
cost overruns, uninsured risks, regulatory and fiscal changes,
defects in title, claims and legal proceedings, availability of
materials and equipment, availability of skilled personnel,
timeliness of government or other regulatory approvals, actual
performance of facilities, joint venture partner underperformance,
availability of financing on reasonable terms, availability of
third party service providers, equipment and processes relative to
specifications and expectations and unanticipated environmental,
health and safety impacts on operations. Actual results may differ
materially from those expressed or implied by such forward-looking
statements.
SOURCE Africa Oil Corp.