FOR IMMEDIATE RELEASE
Wednesday, September 30, 2015
Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Toronto, Canada, Tokyo, Japan – September 30, 2015 – The Board of African Compass International Limited (“ACI” or the “Company”), today announced that ACI Vienna, agreed to sell all its non-core stakes in joint venture (JV) oil & gas blocks located offshore Mauritania and onshore Uzbekistan to an undisclosed buyer as it goes through a lean cost and assets reduction strategy.
The company also announced it is in advanced takes with the buyer and others to sell its onshore/offshore Suriname as well as South Sudan onshore JV oil & gas blocks stakes, approved by the Board to scale back its global frontier markets oil & gas footprint.
About ACI
African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, Americas and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.
For further information please Contact Us.
Supporting Resources: please visit www.africancompassinternational.com; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.
For and on behalf of the Company’s Board of Directors
Julian RUPARE, Jr.
CEO & Chair
GLOSSARY OF TERMS:
The following are the main terms and abbreviations used in this webnews:
ACI African Compass International Limited and/or its subsidiaries, as appropriate
ACI Vienna African Compass International Investments and Holdings
Board Board of Directors
CEO Chief Executive Officer
CG Chief Geologist
CLO Chief Legal Officer
Company African Compass International or African Compass International Limited
COO Chief Operating Officer
JV Joint Venture
– ends –
African Compass International
Johannesburg | Harare | Vienna | Toronto | Tokyo
Directors J Rupare Jr (CEO) C N Rupare (COO) U Mazunga (CLO) V M S Correia (CG)
