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. > We Have Not Hedged Next Year's Production

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Comment by firstworldon Oct 20, 2021 11:42pm

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Post# 34030919

RE:RE:RE:RE:RE:RE:RE:We Have Not Hedged Next Year's Production

$67 hedge is great plus they capture the $15+ spread on the balance Nov release will blow us away and I think we'll see $3 soon enough.

Ferryboy wrote:
From Q1 Earnings release Aug 12:

Only 21% of cargoes in 2022 have been hedged at an average price of $67/bbl, giving the Company exposure to improving oil prices associated with economic recovery.

From latest new release Sept 30:

We are set to benefit from strengthening oil prices with less than 50% of our 2022 cargoes hedged, providing us with significant oil price exposure.

Last note is pretty vague .. I think we are about 3 weeks away from Q2 results so I think we could get more clarifty then

I thought at the beginning of the year AOI stock might get to $2 .. got there early and still have potentailly more good new coming and a dividend of up to $200m coming from Prime .. could be > $2,50 by y/e.

Any others want to guess?