Africa Oil Corp. T.AOI

Alternate Symbol(s): AOIFF

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.

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Africa Oil Corp. > Keith Hill: pls start share buyback program

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Comment by firstworldon Jun 22, 2022 10:41pm

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Post# 34775994

RE:RE:RE:Keith Hill: pls start share buyback program

The div before that was $100M and last few before that $40-50M. The 25 was an insult. Clearly they need cash to di f their share of the new offshore mega find.

Ferryboy wrote:
I agree, it does not make any sense .. but in the absence of any news (see Papa's list a couple weeks back), we just head lower with the market.

we got $25m dividend from Prime in May and we may see something more before the end of June but I am not expecting the release of the $150 Equinor deposit quite yet. I think at the end of May, AOI had $170m USD in cash (not including Nigeria) which right now is close to 20% of its total Mrkt Value.

Q2 results at the begining of august .. improved forward guidance related to Prime would certainly help. And for sure a share buyback program should be initiated in Q3 .. if Keith is going to buy another producing asset, it had better be one hell of a deal for AOI!