Centric’s primary asset is Block 10BA in Kenya, which is located within the oil rich East African Tertiary Rift System between Africa Oil’s Block 10BB and South Omo block.
In addition, the company has a carried 25% interest in Block 7 and Block 11, both located in the Republic of Mali and operated by Heritage Oil Corp.
Africa Oil president and CEO Keith Hill said that the acquisition of Centric will allow Africa Oil to consolidate its interests in the Tertiary-age East African rift basin in Kenya and Ethiopia.
The Block 10BA covers about 16,205 sq km and is directly north of the Loperot oil discovery drilled by Shell Exploration (Kenya) in 1992, within Africa Oil’s Block 10BB.
Africa Oil is a Canadian oil and gas company with assets in Kenya, Ethiopia and Puntland (Somalia).
