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

Post by Oregonduckon Mar 18, 2020 12:53am

192 Views

Post# 30820049

Let me understand this

Last year, Sinopec lost nearly USD$700 million on crude oil swap hedges when the crude collapsed & the Nigerian national oil co. lost one billion dollar on swaps a few years ago.
The crazy part is that the investing trading arm of AOI and BTG (50% each) - doing swaps and forward futures contracts - undertook to render an opinion that AOI's earnings are in line for 2020/21. No arms'-length in real independence because of the in-house opinion. AOI is playing crude futures and not physical deliveries. With Dow and Tsx up big today, the stock is dead in the water. Wonder why?
Good luck.

Bullboard Posts

A Look into the Future of Chronic Pain Management