Shares of Africa Oil Corp (OTCMKTS:AOIFF) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.90 and traded as high as $0.86. Africa Oil shares last traded at $0.84, with a volume of 1,900 shares trading hands.

Separately, ValuEngine upgraded Africa Oil from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

The firm has a fifty day moving average of $0.90 and a 200-day moving average of $0.90.

About Africa Oil (OTCMKTS:AOIFF)

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 also holds an interest in a producing asset in deep-water Nigeria. The company was formerly known as Canmex Minerals Corporation and changed its name to Africa Oil Corp.

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