One-Page Deal Sheet
Marathon Farms-In with Africa Oil in Kenya
Marathon Oil Corp Africa Oil Corp.
Announced Date
October 22,2012
Close Date
October 22,2012
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
32
Asset/Basin:
{"East Africa Rift"}
Location
Region
Africa - East Africa
Country
Kenya
Transaction Details: Subscribe to see
Africa Oil Corp. has completed the Kenyan portion of the previously announced (July 23, 2012) farmout agreement whereby Marathon Oil Corp. acquired an interest in two of Africa Oil's Kenyan exploration blocks. Under the terms of the farmout agreement, Marathon Oil acquired a 50% interest in Block 9 and a 15% interest in Block 12A, both in Kenya. Africa Oil will maintain operatorship in Block 9, but Marathon Oil has the right to assume operatorship if a commercial discovery is made. The resulting interest in the Kenyan exploration blocks are as follows:
Block 9 (Kenya) Africa Oil 50 %…
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