Update from BMO BMO just issued an updated research report on AOI this morning. This is the headline from it:
Site Visit to Kenya; Turning a Pipe Dream Into Reality
Bottom Line: Two years ago, sitting on cash with exposure to a globally significant oil
project looked like an enviable position for Africa Oil. Today, the share price tells us
that the market doesn’t believe its Kenyan project will happen, which was far from the
message we took from last week’s site visit. The project has moved forward, and we
believe upcoming milestones have the potential to reinstate the positive sentiment
around the stock. We recommend investors get exposure before the market prices in
further value for the project.