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 auburn2on Mar 16, 2020 6:24pm

154 Views

Post# 30814738

RE:RE:RE:It's a Mad Mad Mad World !!!

I contacted IR with your concerns. Promptly I received:

We published a press release this morning regarding the physical forward sales and swaps of Prime Oil & Gas B.V.’s 2020/2021 production. 95% of 2020 production and 28% of 2021 production are hedged. Counter parties include trading arms of some of the major oil companies and large trading houses. Parent groups of these counter parties have investment grade credit ratings. We expect these counter parties to perform under the contracts.

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