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.

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Africa Oil Corp. > Year end true up

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Comment by Lonegaurdian19on Dec 18, 2020 1:16am

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Post# 32137877

RE:RE:RE:RE:RE:RE:RE:Year end true up

While it wasn't as high as I would have liked they've made great progress this year. They hedged through the roughest of a pandemic and now have a clear runway ahead of them.

Their Nigerian crude typically trades at a premium given its excellent quality.

OPEC will likely eliminate the Nigerian quotas

With two close oil fields (inside our block) that could easily tie in to the FPSO keep an eye on Total negotiating with the Nigerian Govt

Africa Energy & Impact has been nothing but good news. I'd like to see $200 - $500 million from the combo if monetized (especially when Namibia is a known quantity)

ECO will have its day in the sun once Tullow stops dragging its feet but will require a lot of patience.

If they choose to monetize their investments this should become a dividend play.

My opinion is that they should get out of Kenya even if it's at $1 per barrel in the ground.they should sell this asset to CNOOC who has the leverage to bring the Kenyan stalemate to realistic terms.