Africa Oil Corp. (TSX-V: AOI) and the Puntland State of Somalia have entered into amending agreement which modify the terms of the existing Production Sharing Agreements made in respect of the Dharoor Valley Exploration Area and the Nugaal Valley Exploration Area. The revised agreement were signed by both parties on December 8, 2009 and were ratified by the parliament of the Puntland State of Somalia on December 23, 2009.
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Africa Oil is an exploration focused company based in Canada with ongoing operations in Kenya, Ethiopia and Somalia. The Company is currently drilling an exploration well in Block 9 in Kenya and has recently completed a seismic acquisition program in the Adigala Block in Ethiopia.
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