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. > Annual Results Date

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Post by Oregonduckon Feb 26, 2021 1:53pm

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Post# 32672605

Annual Results Date

The Company must report audited y/e statements for Dec 31st within 90 days or by March 31, 21.

AOI is an oil company tightly wrapped in over $800 million (US) in debts in the environment of rising rates. The Conpany’s 50% share in RBL Prime debts totaling $650 million will be due for redetermination by March 31st.

Expect big impairment charges on its oil reserves.

Offshore drilling is not happening due due to costs and Nigeria’s stalled Petroleum Bill.

AFE and EOG are dead in the water. Kenya is likely rotting on the vine with the $5 billion costs for infrastructure and its partner Tullow hanging by the nail. Not even the Chinese are interested.

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