Africa Oil reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported loss of 1 cent. Cash inflows during the first quarter of 2016 are primarily driven by the receipt of $439.4 million in proceeds relating to the completion of the farmout transaction with Maersk. Cash flows used in operations was $2,542,000 against $2,099,000 a year ago. Intangible exploration expenditures was $12,266,000 against $77,300,000 a year ago.