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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, an interest in the Venus light oil and associated gas discovery, offshore Namibia, and an exploration/appraisal portfolio in west and south of Africa. 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 Limited (Impact); Africa Energy Corp. (Africa Energy), and Eco (Atlantic) Oil & Gas Limited (Eco). 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 Block 3B/4B covers an area of approximately 17,581 square kilometers (km2) within the Orange Basin offshore of the Republic of South Africa. The Company has approximately 17% interest in Block 3B/4B.


TSX:AOI - Post by User

Bullboard Posts
Comment by StupidInvestoron Oct 28, 2009 1:35pm
271 Views
Post# 16431726

RE: selling pressure

RE: selling pressureThe low shareprice is people are unwilling to pay for exploration companies. Should there be oil production from Africa, we'll see a better shareprice. What also could be playing in since we see an extra downtick today is that their new farm-in partner Raytec Metals, later renamed to Lion Energy, canceled their purchase of Lion Petroleum, and made no mention of their plans with AOI. So a lot of people may be left wondering what the deal is there. Still, I'd expect speculation to start working once drilling commences, but it's sad to see it take such a hit so close to spud.
Bullboard Posts