Africa Oil Corp. AOIFF

SEE YA AOI AND HELLO CNQ

[EGF30]

Over the past weekend I went ahead to make the ‘Final Divestment Decision’ (FDD) and rid myself completely of the last AOI I owned putting all proceeds toward CNQ.
 
After 12 years of riding the Africa Oak Island roller coaster I am finally all out taking roughly a 30% gain in those 12 years.
 
It could have been much worse and ‘potentially’ much better with more time and more patience. 
 
Where I come from leadership is everything and with my perception of a dishonest management team along with what would seem another several years more wait, the decision was somewhat difficult yet at the same time incredibly easy, one I am most comfortable with that will keep me sleeping like a baby.       
 
Tomorrow someone could make an offer to buy out the company which is exactly what I had been waiting all of these years for, but my decision has been made, it’s final and yes I will be moving on.
 
I won’t be looking back.  
 
Being retired with my money getting substantially smarter since retiring, I am not willing to let this cash sit any longer riding on the Africa Oak Island roller coaster.
 
To me a solid move with a proven top shelf company and leadership such as CNQ will make money steadily and consistently – no more of the continual up and down (mostly down) like a freaking yoyo that I have come to know as Africa Oak Island.
 
‘Potential’ isn’t a word that is associated with CNQ.
 
Slow and steady always wins the game and the race.
 
From BMO Capital Markets - May 2^nd report on CNQ titled ‘Cash Returns Poised to Increase’.
 
Shareholder returns to accelerate.
 
We expect shareholder returns to grow meaningfully from ~$1.7 billion in Q1/24 to ~$2.4 billion in Q3/24 and ~$2.8 billion in Q4/24. The increase is primarily driven by improved pricing as SCO and WCS differentials are expected to tighten, coupled with higher volumes as turnarounds are completed, new thermal well pads come online, and North American E&P drilling activity ramps up.
 
Differentiated with 100% returns.
 
Canadian Natural remains one of our top picks as the company is in a league of its own in terms of shareholder returns and boasts the lowest sustaining breakeven in its peer group, driven by its top-tier long-life, low decline oil sands asset portfolio.
 
See ya AOI and hello CNQ.
 
GLTA.

[papaloapan]

Been here for just as long.  E&P, especially the wild cat frontier stuff, is inherently long term, but seems to me they have become ineffective at communicating - and updating - their vision of where this thing is going.   Buybacks are misdirection.  Nigeria is the most important asset but you need to be a forensic accountant to understand erratic dividends and future. 

[firstworld]

There is no motivation to do anything?  BoD is already massively over compensated for cash flow and  performance achieved. Better to do nothing. Collect the options, bonuses, six star perks and outsized salaries. Doing anything means there is a chance of failure risking the gravy train. Possibly they know there are soft inquiries on selling Namibia.  I believe it's bound to

[Suppe11]

Easy to answer: Their vision is to get salaries and freebies until retirement. The future of Nigeria: Always declining and Namibia will make up for it. Eog is worthless...better to wait for chapter 11...

[argaiv]

EOG.v has potential.  It is not worthless.