Africa Oil Corp. T.AOI

Another Twitter post

[Ferryboy]

https://twitter.com/kashyap286/status/1732253550711865753


Another interesting summary of AOI on Twitter .... guy makes a couple of interesting points

1.  Reason they pull money out of Prime asset as quickly as possible (and not pay down debt)  is because of Nigeria/National Oil company (Exxon example)

2.  10% of AOI float can be had for about $80m .. less that 1/2 the cash on hand.  I wouldnt pay an enhanced dividend with this as an alternative

GLTA

[Suppe11]

The thesis has flaws....Exxon is still active in Nigeria and there was nothing nationalized. Ok, it's Africa, but Nigeria messed around a decade with the new Petroleumtax regime (to support new development/exploration)..and just now, when they got this PT-regime online, they should think about nationalizations ? Makes around...zero? sense. Yeah...if the debtholders only got half a brain....Aoi

[firstworld]

95% of Nigerian Oil that o  or transported on land is stolen.  They will do everything to protect only stable oil revenue with offshore.  Nigeria is way safer than Canada in terms of political risk and nationalizations LOL. They can easily manage debt service costs why pay out cash tgat will be needed - thats why Canadians are being bailed out enmass with subsidies, govt loans and

[firstworld]

Fact is super majors and nocs have been divesting Nigerian assets for last five years and will continue to do so before the Nigerian govt can sieze them to capture fines and penalties related to decades of bribes and gross pollution. Most are sold to Nigerian entites.  Maybe Prime can pick some up. Braisn dead interbred coked up euros will need it when they block the 10s m bbl day rebranded