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. > Major Headwinds

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Post by Oregonduckon Dec 29, 2020 1:28pm

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Post# 32192301

Major Headwinds

https://www.energymixreport.com/nigeria-risks-losing-38-deepwater-oil-output-by-2025-operators/

For Chevron and Total’s deep water oil output.

Paying down $300 million on Prime’s RBL is like “robbing Peter to pay Paul”. The offsetting entry is $300 million liability owing to the buyers who had handed over the cash for crude to be delivered from entitlement over the next few months to March 2021.

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