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 Oregonduckon May 13, 2020 12:01am

166 Views

Post# 31020434

RE:RE:Funny Accounting

Lonegaurdian19 wrote:
I appreciate the clarification, do you know the terms on the prime loan? That was what seemed a bit off in terms of the coverage ratio.

THE TERMS OF RBLs ARE OFTEN HIDDEN

Transparency is lacking in all stages of these
deals, and all parties to them contribute to their opacity. Unfortunately, they rarely make loan-level information such as interest rates, maturity, and resource-security arrangements available to the public. More often, RBL deals are mentioned in passing in company press releases that state only the total amount of the loan and offer vague references to resource-Security.

AOI is not being opaque there. The only thing they stated is that there is no near term repayment. I figure out the interest rate is around 6 percent.