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Highlights
- Africa Oil completes the amalgamation of Prime Oil & Gas, consolidating control over offshore assets
- A quarterly cash dividend of USD 25 million is declared with a target annual distribution of USD 100 million
- Board and executive management changes announced, alongside the company’s full-year 2025 guidance
Africa Oil Corp. (TSX:AOI) has completed the amalgamation of Prime Oil & Gas Coöperatief U.A., consolidating all of Prime’s shareholding in Africa Oil. As part of the deal, Africa Oil also declared its first quarterly cash dividend of USD 25 million, marking the implementation of its enlarged base dividend policy. The company has set a target annual distribution of at least USD 100 million.
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