Africa Oil Corp. (AOI.TO) has signed a call and put option agreement with three shareholders in Impact Oil and Gas Limited to purchase a material 7.0% interest in Impact. If exercised, the Option Agreement will increase Africa Oil's Impact shareholding to 39.5%.
Africa Oil CEO, Roger Tucker, said: "Through our shareholding in Impact we have exposure to an exciting opportunity set in Namibia's Orange Basin, including the Venus oil discovery, and a highly prospective exploration and appraisal program on Blocks 2913B and 2912. This purchase achieves the company's objective of materially increasing its ownership in Impact, enhancing its rights and influence over a core strategic asset and value driver for Africa Oil."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.