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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Post by pennyoilkingon Sep 14, 2018 6:43pm

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Post# 28624322

Update on AOI/Vitol bid for Petrbras Nigeria

Latest rumor is that PTG which owns 40% of the venture doesn’t want to book a loss. The bank paid $1.5 billion for its stake. It’s CEO was jailed recently on corruption charges. The bank now likes the asset as they expect good future dividends. They are now asking for a sweetened deal from Vitol. They also might keep their 40%. Let’s just close a deal and start generating cash!

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