Africa Oil to Acquire Centric Energy

Africa Oil Corp. (TSXV:AOI) to acquire all of the issued and outstanding common shares of Centric Energy Corp. (TSXV:CTE).

The press release is quoted as saying:

Pursuant to the agreement, Africa Oil will acquire, by way of a plan of arrangement, all of the issued and outstanding shares of Centric in consideration for 0.3077 Africa Oil shares (and $0.0001) for each common share of Centric. Centric’s primary asset is Block 10BA in Kenya which is strategically located within the oil rich East African Tertiary Rift System between Africa Oil’s Block 10BB and its South Omo Block, where Africa Oil is currently operating.

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