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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

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

Comment by Ferryboyon Nov 15, 2021 2:44pm
150 Views
Post# 34128491

RE:Acquisition prospects?

RE:Acquisition prospects?
In addition to AOI, I also hold TVE who have recently undertaken to return 50% of FCF to shareholders in the form of regular div, buybacks and special dividend.  I think Prime dividends to AOI could be in the region of 400m usd in 2022  ..that is about $1 cad per share.  AOI is a holding company and with net debt of zero and minimal operating expenses so they could easily do 50% return of capital.  Prime debt is now very manageable and will be $0 in 4 years or less IMO

That still leaves 50% towards acquistions including the paydown of any debt associated with that

I have ignored all the other bits and pieces and Kenya. if it gets developed. 

Anyways .. will find out a bit more hopefully in a couple of hours



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