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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

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

Bullboard Posts
Post by Oregonduckon Aug 17, 2020 11:47am
157 Views
Post# 31417899

RBL Redetermination

RBL Redetermination The loans extended could be cutback which would force AOI to issue more shares &/or convertible bonds.

The majority of E&P companies rely on reserves-based lending (RBL), a type of asset-based lending, for their working capital needs. RBL facilities are a type of specialized loan collateralized by the value of the borrower's oil reserves. Thus, a fundamental component of RBL facilities is the valuation of the borrower's oil and gas reserves, which determine the amount of credit the lender will extend to the borrower in light of the recent decline in oil prices.
Bullboard Posts