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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 papaloapanon Aug 18, 2022 9:33am
119 Views
Post# 34904422

RE:RE:exactly how will buying back shares enrich shareholders?

RE:RE:exactly how will buying back shares enrich shareholders?
You are quite correct, and it comes down to simple numbers.

On the other hand, it can also be a waste depending on whether the share price is exceedingly low or not.  A great many buy backs have been done, mainly by larger companies, at inappropriately high prices, only to regret it;  financial engineering as opposed to sound management.

In this case, VET, and many similar small oils, are doing the correct thing, provided that they also deal with direct cash to shareholder as part of the plan.
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