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. > Share Buybacks

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Post by Malpeque2on Oct 10, 2022 1:02pm

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Post# 35015826

Share Buybacks

Company has repurchased 10% of the total they are allowed in about a week or so, given that they have authorized 40M over a 1 year period.

IMO the scale of these buybacks in such a short amount of time and as a percentage of the overall share volume IS driving the share price higher.

i don't understand why they would do so much so fast. I have been and am in favor of these buybacks but the near term scale is a bit excessive.

I hope KH and the BOD have a plan to do a Substantial Issuer Bid IF this NCIB is completed substantially before the 1 year deadline.

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