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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 Apr 22, 2010 12:31pm
324 Views
Post# 17019812

RE: How about some LEO with that AOI?

RE: How about some LEO with that AOI?With nothing much happening on the market, I'll elaborate some of my ideas about the AOI-LEO partnership. When the time comes that AOI is selling some of its interests, I think LEO is a potential buyer. AOI has always been about building reserves and getting taken out. LEO, however, states in their presentation that they're looking to establish a base production of 10,000 boe/day and then later become a company that pursues new E&P opportunities in Africa. That's the exploration and production side of this African story. AOI is an explorer and builds reserves. LEO is an exploration and production company, and very likely to take out parts of AOI to the right price. AOI won't have to go looking for buyers as they have a potential suitor already waiting for them to stack up reserves.
Bullboard Posts