Africa Oil Corp. T.AOI

Alternate Symbol(s): AOIFF

Energy Oil & Gas E&P

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.

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Africa Oil Corp.

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Comment by kentoon May 08, 2012 6:48am

365 Views

Post# 19883276

RE: RE: Extremely bright future ahead here

OF GREAT SIGNIFICANCE HERE IS THAT ANY FURTHER DILUTION IN THE SHARE PRICE IS LIKELY TO BE MINISCULE. ASSUMING FURTHER DISCOVERIES IN THE NEXT 4 WELLS AND A SHARE PRICE OF $20. THE COMPANY ONLY NEED TO SELL 10 MILLION MORE SHARES TO RAISE $200 MILLION.

THIS PROVIDES THE COMPANY WITH CASH NOT ONLY TO DRILL IN EAST AFRICA BUT TO BUY AND DRILL ADDITIONAL PROSPECTS IN OTHER LOCATIONS LIKE IN WEST AFRICA WHICH HAS PROVEN TO BE A PROLIFIC OIL PROVINCE.

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