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 May 17, 2020 6:21pm

243 Views

Post# 31040498

RE:RE:Love the move that Tullow just made!

There is a brand new article out of Kenya that discusses this issue. It essentially says that CNOOC is the probable suitor taking the the 32.5% that is currently for sale. AOI and the others were angry that Kenya kept playing games with tax threats, etc. Any type of farm-in or purchase will immediately add to the value of AOI because right now the market gives AOI nothing for Kenya! Having the Chinese come in and get the FID done before years end would be great. Kenyatta has to bend over quickly and get this done now.

All oil analysts now expecting big moves up in oil prices.

This action by Tullow will force action.

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