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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

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

Post by Lonegaurdian19on Jan 27, 2022 6:15am
295 Views
Post# 34365614

Dividend

DividendI think a good starting point for the divy is $.025 per quarter. You always start conservative with the establishment of a fixed dividend. So that's around $47 million a year and $.10 per year excluding buy-backs. A 5% yield will be just fine at those terms. What will be interesting is their investments are likely to consolidate within the next couple years so that could create a special dividend scenario or could fund acquisitions ie perhaps they take full ownership of prime or buy further legacy assets in Africa. In any event, I'd see $.025 a qtr and a great starting point
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