Apologies if previously posted...
http://www.africaoilcorp.com/i/pdf/Q1_2008_Presidents_Message.pdf
The Company has suspended the contract but retained an option to utilize the same rig, anticipating the resumption of exploration drilling before the end of 2008.
While the Company is disappointed in having to temporarily delay the drilling program, it is a minor setback and will not prevent us from satisfying our commitments and fulfilling our obligations under the
Production Sharing Agreements.
The first exploration period lasts until January, 2010 and, as a result, the Company has ample time to drill the two wells committed during that initial period.
On Behalf of the Board
Richard Schmitt
President and CEO
May 29, 2008
We remain very excited about the potential of these projects and look forward to a successful
exploration program.
aoi q1 presidents message may29th
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