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. > From the report to shareholders

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Post by Hope4Best779on Mar 02, 2022 8:38pm

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Post# 34477406

From the report to shareholders

"It is expected that Prime will lift 11-13 cargoes (5.5-6.5 cargoes net to the Company) in 2022.......Prime has forward sold its first 10 cargos in 2022 at average Dated Brent price of
$73.1/bbl." from the Africa Oil 2021 report to shareholders out a few days ago.

Basically they've sold alot of their 2022 production at $73 a barrel with oil well over $100. Hence the stock price being crushed. and the poor cash flow with declining production.

Do your homework.

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