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. > Hedge Disclosures

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Comment by firstworldon Nov 19, 2021 12:18am

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Post# 34144100

RE:Hedge Disclosures

Prime is a third party entity they have a stake in no need to disclose anything I don't see sumcor or any of the others disclosing hedge counter parties. Better if not hedged at all the earn 20% more haha.

Malpeque2 wrote: My guy in Canada says the Hedge Book disclosure in Canada under IFRS is not sufficient.

Prime has the hedges. Africa Oil owns 50% of Prime and is the reporting entity.

So what we are looking for is specific disclosure on who the counter party is, and the specific volumes and prices of the product in the "hedge book." And Africa Oil does not provide it!

They say the cargoes are hedged! Well then which cargoes in which time frames of delivery and what prices are each "cargoe" hedged at. This is material financial information to the public market.

And now there is possibly some inconsistencies from June Q to September Q in the filed financial statments for Africa Oil about the price and volume summary information for 2022 hedges.