AFRICA OIL ANNOUNCES THIRD QUARTER 2024 RESULTS [Globe and Mail, The (Toronto, Canada)]
TotalEnergies SE (TTE)
Company Research
Source: Globe and Mail, The
announce its financial and operating results for the three and nine months ended September 30, 2024 View PDF version Highlights Satisfied the material conditions precedent to the amalgamation to effect the consolidation of all of Prime in Africa Oil. The completion of the amalgamation is now expected during Q1 2025 compared to the previous guidance of Q3 2025, accelerating the timeline to implementing the enlarged shareholder returns program subject to customary Board approvals, as previously communicated on June 24, 2024 Closed the farm down for Block 3B 4B , facilitating the exploration drilling on this prospective Orange Basin block that is anticipated during 2025. Africa Oil currently holds a direct 17.0% interest. During Q3 2024 Africa Oil increased its shareholding in Impact to 32.4% and on November 5, 2024 , served the notice to exercise the call option to acquire additional shares that on completion, will increase its shareholding to approximately 39.5%, enhancing it
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