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. > Re-Financing

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Post by Ferryboyon Jun 20, 2023 6:25pm

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Post# 35506202

Re-Financing

Based on a quick and dirty calc of the re-financing and cash /debt postion at March 31, I see

AOI has about $220m US in cash after the dividend and their share of Prime cash is about $300m USD

Wonder what they are going to do with this cash ... maybe buy something? That's my take.. they have something lined up just waiting on the re-financing. and they might buy it through Prime.

What do you think?

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