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. > About Hedged.

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Comment by toptigeron May 13, 2022 2:57pm

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Post# 34682533

RE:About Hedged.

Hi Esiiiii (lots of "i's" there)

i'm extremely well versed in AOI but for the life of me this "hedging" is super confusing

I dont think they are hedging in the classic sense, that is selling at a fixed price on the futures mkt, so if the price goes up they gain on the oil and lose on the future, thereby fixing the price (i'm sure you know how hedges work)

from my facebook group, i'm pretty sure they fwd sell on a distant future contract, which is typically 10 dollars less, and since they did that a while ago, the price is not that great, but now all futures will be 90+ i would think or even more.

so i guess the last futures contract for sept delivery is the one remaining.

could be wrong, i'll ask the group for clarification but think that is right

for the covid hedging, i think they did actually do the traditional variety