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Bullboard - Stock Discussion Forum 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... see more

TSX:AOI - Post Discussion

Africa Oil Corp. > Re-Financing
View:
Post by Ferryboy on Jun 20, 2023 6:25pm

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?


Comment by Suppe11 on Jun 20, 2023 10:12pm
Maybe your calculation was too quick and too dirty...Aoi share of Prime cash was 198m...and if Prime pays a 62.5m divi to Aoi...the cash at the Prime level will go down 125m/62.5. Aoi Q1 cash was 158m...add a 62.5m divi...substract 31.4m for Impact shares gets you to roughly 189m...less G&A...184m. Ever read something about the signing fee/signature bonus for the licence extension ? I guess ...more  
Comment by Ferryboy on Jun 21, 2023 9:24am
New Financing 1,050 Original Debt    (720) Dividend           (125) Cash on Hand   397     (Mar 31) Net Cash           602       301 to AOI And since we are almost through Q2 , you probably have 2 liftings to add to that My point is ...more  
Comment by Suppe11 on Jun 22, 2023 4:57am
Ok, higher debt -> higher cash (more interest btw.) that's a kind of rob Peter, to pay Paul. Obviously they'll spend the cash, otherwise the move would be completely stupid.
Africa Oil Corp.
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