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 27, 2012 8:28am

724 Views

Post# 19950273

RE: reserve potential

As per Folknutboy calculation of 3.5 billion barrels in Ngamia with 50% to AOI = 1.75 billion barrels @ $6 per barrel =$10.5 billion / 225 million shares = $46.66 per share for this one Block.

I chose $6 per barrel because a pipeline through Kenya is easier and faster than one through Uganda.

So our starting point is $46. We can then extrapolate for the other procepts/Blocks, etc., by 10, 15, 20 , etc and the figures become massive.

We are still to add in Puntland and the Bolcks in Ethiopia and Mali.

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