RE:RE:RE:RE:Namibia's offshore oil discoveries estimated at 11 bln @ a net 6% indirect via Impact I disagree. AOI will need the dividend from Impact once the sale is finalized.
it will create a buffer, so say, they get $450 million after taxes. That's about what you want to carry on your books. AOI's life line is Prime, without it game over.
Prime just over levered again, around $500 net to AOI. If it's going to be a cash cow, you'd wait until the Nigeria pump is primed again to flow for years while yelling at KH for taking on about 50% more debt than was necessary at the highest interest rates in decades.