Africa Oil (TSE:AOI) has released an update.
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Africa Oil Corp. has announced the acquisition of additional shares in Impact Oil & Gas Limited, bolstering its stake to 32.4% with a purchase of 25,652,039 shares for approximately USD 18.6 million. The company progressed with the share acquisition, waiving a previous condition tied to a farm-down transaction of Impact’s Namibian assets. This strategic move enhances Africa Oil’s investment portfolio in the oil and gas sector, with its shares listed on both the Toronto Stock Exchange and Nasdaq Stockholm.
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