Africa Oil Corp. announced consolidated unaudited cash flows results for the full year ended December 31, 2014. For the year, the company reported cash used in operating activities of $9,860,000 compared with $12,213,000 for the same period a year ago. Property and equipment expenditures was $14,000 compared with $76,000 for the same period a year ago. Intangible exploration expenditures was $437,876,000 compared with $229,453,000 for the same period a year ago.

The company recorded an impairment of intangible exploration assets of $96,878,000 for the fourth quarter of 2014 compared with $22,874,000 for the same period a year ago.