Africa Oil Corp. T.AOI

Impact

[papaloapan]

Impact is a private company, making this a private placement - not sure what warranted a public announcement.

In any case, we can be certain it is subsribed, and should anyone not have the funds -  the only reason to decline, the terms will be modified and we may get more.

AOI will take their share, and more if available.  They have 7% of Venus, with 3billion barrels, and a mere $60mm opens the possibility of 7% of 10-13 billion barrels.  The value will go up, or worst case stay the same, and Impact will sell after resullts ar,  e in.  Any role in development is impossible for Impact.

Will know how much over the next 6 months, or less maybe, and then cash out over the following 6-12 months.

[toptiger]

the initial venus well (2913b) will take the 60 million, and the 10-13 billion barrels would almost certainly include the other parts of "venus west" which almost certainly require more funding to get to 10-13 billion barrels, in block 2912 (with same partners so very early days, but an amazing amazing prospect for the other posters on here today (not papaloapan)...... i think there

[Suppe11]

Sometimes fantasy is better, than reality...that's the problem. Obviously Venus is one for the big boys. It's deep (=technically complicated) and very expensive to develop, which will take years. A well here, a well there...that's pocket money for Total. A Fid and billions...that's serious for for the big boys too = it's not easy sellable like bread in a supermarket.

[liquorwolf]

I wouldn't say that 11 billion barrels is only for the big boys. Lisa was developed in a little over 4-5 years, Venus will too. 

[toptiger]

well being a deep water well and not having the expertise it is really for the big boys. we are leading 3b/4b (operator) and not quite sure how we will do that, outsource or farm down i expect aoi are an investment company not really a producer on own

[Lonegaurdian19]

Impact will likely monetize the block as they should after the appraisal stage. The fact they are re-entering Venus is interesting. I'm assuming it's cheaper? The two or say 1.5 well appraisal I'd best explain with the exceptional cost given the depth there. Fingers crossed for good news and glad Impact didn't sell out early. Both appraisals will help in the valuation of AOIs

[toptiger]

since both blocks are owned by the same partners, and they are drilling on venus area again (not 2912 i dont think), it will be interesting to see exactly what impact do options are 1. sell venus (2913b) as it is after appraisal 2. wait for 2912 to be drilled and then sell both blocks 3. make some sort of extrapolation for 2912 and sell whole lot think option 1 is most likely, 2 not so much

[Lonegaurdian19]

By re-entering Venus I meant literally re-entering Venus-1. This is new territory for me in terms of drilling and geology. I am assuming they cemented the original well? Or am I misreading this in that they will drill two new wells given the original was plugged and abandoned?

[Ebenizer3]

they are drilling and flow testing an appraisal well and than they are going back to the Venus 1x and flow testing it. Offshore wells are always plugged for obvious environmental issues. And any well that has been plugged can be re-entered, it's no big deal.

[Lonegaurdian19]

Appreciate the clarification, only reason I asked about it being cheaper is Impact was originally looking for 100 million. My assumption was they, with partners wanted to revisit Venus -1 which I assume, given its a drilled hole with a cap would be far cheaper to assess. Amazing what offshore folks can do these days.

[firstworld]

A long road packed with technical and market risks with 5 years min to monetize. By. Then we could all be using fusion cell power plants the size of an Apple 2022 brick phone to power cars and homes haha. It will probably be a RU CN product so west will use coal. May add some value to AOI but the only story at AOI is the 1/2 B it will earn in a 15 mth period with 8 employees. Can buy all the

[Suppe11]

I don't care much about Kenia, because it's discounted to zero by the market (and for me too) anyway. More important is the license in Nigeria. Some successful drills there through the operators would mean instant cashflow...possible longer reserve-life. I think, that's what the market is looking at. New license ->  lower tax/royalities as a bonus.

[toptiger]

they are but still would like kenya sorted and it does have value fact it isnt getting done is not so much the lack of value, rather extremely aawkward partners i expect

[Lonegaurdian19]

Preowei and South Egina might as well be proven reserves. Low risk, but with constraints at the FPSO they appear to be replacement reserves once new terms are established. Kenta isn't worth batting an eye at

[Ferryboy]

Keith Hill stated in one of the CC's earlier this year (I think the YE one) that Kenya could be worth "a dollar per share or more" .. if that proves to be true then it was worth the effort with the Govt of Kenya who I think are the main reason for the delays

[toptiger]

absolutely frerryboy, for all those that write it off, can i have your dollar / share when it gets done (if....:-)) thx in advance

[Suppe11]

Imagine you got a few  billions in your pockets...and imagane oil companies are overvalued (otherwise this example is totally pointless...or even more pointless). Then you come across the Kenia asset...with 2-3 (don't know about Total) unwilling partners. Actual net price for a producing company with 10.000 bbl/day is round about $ 300m. The operation should produce 120.000 bpd in...don

[Ferryboy]

I will leave the calculations and other factors to the big boys to figure out The way I see it, either they are able to get a buyer/partner on board in the next 3-4 months or so .. or it will all stay in the ground

[Lonegaurdian19]

Been advocating for the Chinese to move in for several years now

[Lonegaurdian19]

As an American for perspective the current state of things is a disaster in Kenya. Kenyans really f*d up the deal as every govt from National to regional held their hand out. then the Force Mejure came and limited fencing occurred. Which led to kids exploring the oil wells there. A few got really sick and some died.  To be honest $1 barrel in ground is enough and then followed by gils

[Lonegaurdian19]

Hills*  Only a major player like CNNOC can dictate terms while evading local protests. No doubt China wants neutral barrels and influence.

[toptiger]

thats very one sided analysis, forget to mention profit from 60k barrels and at these prices would be high plus partners / kh have mentioned that there is a further 100% eploration upside available

[firstworld]

As usual, Canadains and Americans have no clue about the foreign counties that they war in, plunder and attempt to do business in and often fail. Africa Rule #1:. You must have a strong and willing armed group behind you ready to crush all opposition ruthlessly. Rule # 2:. If you don't have the funding to support rule #1 stay away because there is always internal conflict and civil war on the

[hemiman]

This post has been removed in accordance with Community Policy

[Malpeque2]

Has anyone disclosed publicly about the Venus find?    Or is it all just rumors and speculation?  I assume if anyone disclosed it woud be the operator.

[toptiger]

one of the stranger posts....where have you been the last 6 months ? it needs appraising but apart from that its public or is that not what you meant ?

[Malpeque2]

Did they do a FLOW TEST when they drilled it?    Any disclosure about oil/gas flow?   Pressure?   Choke?     API?        24 hour test?    48 hour test?     NO TEST? This is the same cast of characters that were involved in ECO,  right?      That was a total PUMP and DUMP in S. America

[Malpeque2]

I see it.   Total Energies  Venus-1.    84 meters of net oil pay.   Light oil with associated gas.  Says they did a full suite of logging and coring!      February 24th,  2022.    Any more details that anyone can find?  So,  why wouldn't Total just bid cash for Africa oil and wrap this up?    Why leave

[papaloapan]

Impact Oil & Gas is a private company, with no publicly registered stock or debt. 

[Malpeque2]

Do we know who the shareholders are?    Besides AOI?      The way the insiders at AOI make money,  besides their salaries and all the freebie shares issued to them over time,  since they own very little of the shares,   and always seem to sell their option shares and RSU's in Cashless transactions where they actually BUY  no stock,  and