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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 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-18 and EG-31). 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 Ltd (Impact), Africa Energy Corp (Africa Energy) and Eco (Atlantic) Oil & Gas Ltd. (Eco). Prime is a Nigeria-focused company with interests in OML 127 and OML 130 that account for all of the Company's reserves and production. Eco is an oil and gas exploration company with interests in Guyana, Namibia and South Africa. Impact has interests in Namibia and South Africa.


TSX:AOI - Post by User

Bullboard Posts
Comment by StupidInvestoron Nov 10, 2009 7:14am
479 Views
Post# 16470078

RE: RE: RE: Africa Oil Announces Spudding of Bogal

RE: RE: RE: Africa Oil Announces Spudding of BogalThis is a complicated well. The good news is 6 months for results sounds to me like the maximum timeframe, so there is a bigger chance we'll see results earlier rather than later. I do think, however, that the news took the market by surprise. There has been little information from AOI, and most likely from CNOOC to AOI, about the time needed to drill the well and interpret the results. I think the initial work-program had the results coming in December, so the shareprice is in my opinion reflecting disappointment in this, and there's a few of short-term investors not wanting to sit tight in a market that got just knocked out.
Bullboard Posts