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.

TSX:AOI - Post by User

Africa Oil Corp. > London doesn't like the latest news

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Post by liquorwolfon Feb 28, 2023 8:39am

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Post# 35309087

London doesn't like the latest news

London exchange has the share price down 6%+. Doesn't really reflect reality. Venus is in the range of 8 - 10 billion bbls. At 6% or 480 million equates to 2 billion at $4 in the ground for the most pessimistic valuation. Even 5 billion would work out to over a billion USD. Go figure. Market cap is $1 billion USD not counting cash on hand $200mm, Upsides on future drillion, plus Nigeria, which can't be dismissed as a moneymaker,

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