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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 Suppe11on Jan 10, 2024 7:20am
197 Views
Post# 35818784

RE:venus deal: from 6 to 3% reduced but carried till production

RE:venus deal: from 6 to 3% reduced but carried till production
Looks my thesis was spot on in May (and before):

"To me, the main point is...when was the last time a small explorer got 1b+ on some holes in the ground ? Long, long ago.

Imho...the intention of the Impact mm is clear...get the exploration costs back, get some small Wi (or royalty) with a carry to production and that's it...saves the overhead for decades and they can go on. Beside the mm wish, it's the most probable outcome for me too."

The only good thing is, that Aoi won't throw any more money in the Impact pit, for now. The Aoi now 3% Wi is pretty much worthless kn the next 10-20 years.
Of course Impact won't pay back Aois share of reimbursement (33m)...better to spend in on the overhead kn the years to come and some greenfield stuff for 2050.
 
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