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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 Feb 01, 2010 4:33pm
518 Views
Post# 16741139

RE: OIL?

RE: OIL?Lots of wells in Kenya had oil and gas shows, so it doesn't mean anything. It's not really newsworthy. Lots of companies have during drilling released that they've encountered oil and gas shows, just to end up with a non-producing well, so I don't think CNOOC (the operator) would bother releasing that. If they don't release it, AOI doesn't release it. AOI is a junior and CNOOC is a major. What's newsworthy is very different for the two. It took AOI like 2 weeks to get approval to announce spud of Bogal-1 although it was out in various media on the day of spud that CNOOC had started Bogal-1. Won't hear anything until the end, I believe. It's a new play where they're targeting the deep zone, so right now is where it gets interesting. Please don't forget this is a wildcat drill. It's high risk. Best to just have the mindset they won't find oil because that's the statistics. But if the new play would work and they strike oil, it's going to be a massive reward. What I'm saying is don't get nervous over a wildcat. See it as a bonus if they strike oil.
Bullboard Posts