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Africa Oil Corp. AOIFF


Primary Symbol: T.AOI

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio in west and south of Africa, as well as Guyana. The Company is focused on its Nigerian assets, Namibian Orange Basin opportunity set (Blocks 2913B and 2912), Block 3B/4B in South Africa's Orange Basin, and Equatorial Guinean exploration blocks (EG-18 and EG-31). The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies, including Prime Oil & Gas Cooperatief U.A. (Prime), Impact Oil and Gas Ltd (Impact), Africa Energy Corp (Africa Energy) and Eco (Atlantic) Oil & Gas Ltd. (Eco). Prime is a Nigeria-focused company with interests in OML 127 and OML 130 that account for all of the Company's reserves and production. Eco is an oil and gas exploration company with interests in Guyana, Namibia and South Africa. Impact has interests in Namibia and South Africa.


TSX:AOI - Post by User

Post by Lonegaurdian19on May 16, 2023 12:40am
331 Views
Post# 35449602

From the CC

From the CC"Keith Hill
Yes. But again, we're talking with several
different companies that have different ob-
jectives. Obviously super majors love to
operate and for the right price and the
right deal, we would be willing to give up
operatorship. I think as far as giving up in-
terest, I think it's pretty much proportional.
We're not that interested in giving up too
much interest. We've only got 20%, so I
don't think we would go below 15%. I think
our two partners have other criteria partic-
ularly re-procure the interest indis-
cernible] a bigger number, I think if we add
up as a group giving up plus or minus
50% between us I think we stand with that"

Not sure about BEE limits (what they can farm down to legally), but looks like KH is expecting around $20 million plus for 5% (assuming only one carry)
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