At June 30, 2019, cash was US$341 mm (GMPFEe: c. US$350 mm) with no debt. Upstream and pipeline FEED studies for Blocks 10BB and 13T in Kenya have been completed and the company expects the ESIA to be submitted in 3Q19. EOPS production is 2000 bbl/d with all the crude oil being trucked from Turkana to Mombasa, to date, c. 230,000 bbl of oil. The company expects the first lifting in 2H19 of sweet Kenyan crude oil stored in Mombasa.
15 Aug 2019
FLASH: 2Q19 results
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FLASH: 2Q19 results
Africa Oil Corp. (AOI:TSE) | 0 0 0.7% | Mkt Cap: 634.0m
- Published:
15 Aug 2019 -
Author:
Taro Kiley -
Pages:
2
At June 30, 2019, cash was US$341 mm (GMPFEe: c. US$350 mm) with no debt. Upstream and pipeline FEED studies for Blocks 10BB and 13T in Kenya have been completed and the company expects the ESIA to be submitted in 3Q19. EOPS production is 2000 bbl/d with all the crude oil being trucked from Turkana to Mombasa, to date, c. 230,000 bbl of oil. The company expects the first lifting in 2H19 of sweet Kenyan crude oil stored in Mombasa.