Africa Oil (OTCMKTS:AOIFF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Africa Oil Corp. is an oil and gas exploration and development company. The Company owns interests in exploration licenses in Kenya, Ethiopia, the Republic of Mali, and Somalia. Africa Oil Corp. is headquartered in Vancouver, Canada. “

Shares of Africa Oil (OTCMKTS AOIFF) traded down $0.01 during trading hours on Wednesday, hitting $1.09. The stock had a trading volume of 149,957 shares, compared to its average volume of 22,955. Africa Oil has a 52 week low of $1.03 and a 52 week high of $2.14.

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Africa Oil Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and development company in Kenya and Ethiopia. It holds interests primarily in the East African Rift Basin. The company was formerly known as Canmex Minerals Corporation and changed its name to Africa Oil Corp. in August 2007.

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