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.

TSX:AOI - Post by User

Africa Oil Corp.

Bullboard Posts

Comment by trader3000on Nov 26, 2012 2:31pm

247 Views

Post# 20644926

RE: RE: RE: RE: Buying Time

The other problem is that the investment houses wanted a financing and didn't get one. Now AOI needs to counteract that. If AOI did turn down a financing at $13 then that was short-sighted. Even if you believe that it will be higher you need to keep some of these big boys happy. I was not opposed to a financing at $13 but many were against it. That would have kept some of the shorters at bay and brought in support at a higher level. 10 million shares at $13 would be minimal dilution. AOI needs to find buying or the short sellers will drive it down further.

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