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.

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Comment by pennyoilkingon Feb 04, 2020 8:07pm

138 Views

Post# 30642996

RE:Hey Penny

Argh! AOI was only supposed to get 25% but now gets 100%! Really, the transaction was done around the same terms as AOI announced! But, the assets are hedged at $66.00 a barrel and the production is INCREASING! They will be producing for years! After they get rid of the pesty little $250 million dollar loan in a year or so they can just put the long term loan against the property $912 million on the back burner because the asset base is so undervalued!

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