Africa Oil Corp. T.AOI

I Looked At Lundin Group Of Companies

[argaiv]

On ther web site and Africa Oil was not on the list?  Are we no longer part of that group?

[papaloapan]

AOI has no affiliation with Lundin.  Don't remeber when, bu want to say perhaps 2 years ?

[hikari]

I think Helios is selling AOI. I think Helios was very important for the growth of AOI, because they were important for entering Nigeria offshore. I think once they said they want to create a real African Oil Company with African DNA. I do not know if Helios is still influencing AOI or not. I do not understand why they are selling? The second generation of the Lundins were the founders of AOI

[papaloapan]

Not sure I see it the same way. The historic opportuity to grab assets in Namibia was 10+ years ago, and AOI did just that, both directly and indirectly (EOG, Impact, Africa Energy).  Today is the time to start harvesting those assets.  AFE was a major discovery, and has been mired in politics to get production and offtake. But it will come, or they will produce LNG offshore

[firstworld]

Asleep at the wheel re Prime infill drilling production replacement oversight...this should have started a year ago.  Production down 20% vs 2 years ago. 

[Suppe11]

1) They're not the operator. 2) The big boys are the operators and they're smart. Because they're smart, they ask themselves: Why invest capex, when the licence will end in 1 year ?

[hikari]

I agree partially. Yes, The early grab of blocks in Namibia was 10, 15 years ago and in my opinion Mr Hill did a good job in buying AFE, Eco and Impact shares. But Mr. Tucker is oversleeping the final rush in Namibia. My impression is that Mr. Tucker is just a good administrator, derisking the existing assets and managing the natural decline of the producing oil fields (AOI had a peak production

[Suppe11]

Not really fair. Aoi was honest about the production profile of the Nigerian assets from day 1 = always declining, except for a little (possible) Petrowei bumb.... Keith Hill was criticized for collecting exploration assets without cf...in the end he lost his job over this. More or less at the peak of this criticism, Santana bought in there. You just can't expect, that KH should have make

[GoldfingerU3O8]

I fully agree Hikari. Why is AOI management getting big pay slips. For sleeping? I don't have the impression that this is a well run company.

[Suppe11]

The point is not, that Tucker gets a big salary + freebies for sit and wait...the whole boards and figureheads at Prime, Aoi, Impact, Eog and, Afe are paid by the Nigerian assets....ah, plus one bank...for sit and wait.

[firstworld]

Fat pay and perks for sitting around is fine just distribute 80% of free cash flow to SH since dont need it anyway waiting for Orange Basin that's fully financed and still ultra high risk with no FID. They are saving the cash to keep their fat pay in case orange basin not approved and Nigeria burns out. Anyone hear results of infill and their $45M cash entitlement from the recent $90M deal

[hikari]

Shahin Amini No, absolutely. I think that's a very fair comment. Very good. So I'm just looking at the remaining list of questions. There's one question on what is the company's relationship to the Lundin Group. I will take this one. The Lundin family did exit the position, and we were very fortunate that we had a blue chip international fund that took that position and are now

[hikari]

Shahin Amini   No, absolutely. I think that's a very fair comment. Very good. So I'm just looking at the remaining list of questions. There's one question on what is the company's relationship to the Lundin Group.   I will take this one. The Lundin family did exit the position, and we were very fortunate that we had a blue chip international fund that took that

[DAGUY]

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