Africa Oil Corp. AOIFF

Primary Symbol: T.AOI

Energy Oil & Gas E&P

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

Africa Oil Corp. > BTG consolidation

<< Previous

Bullboard Posts

Next >>

Post by papaloapanon Jun 24, 2024 6:39am

230 Views

Post# 36102811

BTG consolidation

Interesting agreement over the weekend with BTG. If I read it correctly, Prime becomes 100% owned by AOI, and BTG becomes a 35% owner of AOI.

Current shareholders essentially double the cash flow from Prime in return for a circa 1/3 dilution. The gap is essentially perceived value of other AOI assets, but it leave room for increaed distribution.

It is effectively a change of control . Anyone know enough about BTG to understand the impact on future direction ?

<< Previous

Bullboard Posts

Next >>

High Tide adds two stores to undervalued cannabis retail network