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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Post by Oregonduckon Nov 28, 2020 8:50pm

956 Views

Post# 31995813

Better to Sell Assets..,

...than buy assets.
The Lundin’s got to be billionaires by selling Tanganyika Oil (TYK) for C$2 billion and Red Back Mining (RBL) for C$7 billion. The Chinese Sinopec Petroleum which bought TYK had buyer’s remorse and paid dearly for a bad deal in acquiring oil fields in Syria. Corollary, Kinross which bought RBL had to write off pretty much all their investment due to uneconomic gold production. So, Lundin was lucky to sell off two worthless assets for a total of C$9. This goes to the dictum “Buyer beware”.

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