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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.


TSX:AOI - Post by User

Africa Oil Corp. > Q-1 2022
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Comment by Ferryboyon May 14, 2022 3:41pm
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Post# 34684183

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Q-1 2022

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Q-1 2022
Tiger ..I think a lot of the catalysts will happen in Q3

I listened to the call again today as I was interupted too many times on Friday.  My takeawys:

Kenya:  "good chance (a deal) .. by end of June"

Nigeria:  Early licence renewalon OML130  will allow refinancing the RBL and extend the amortization so that "we can get the cash out of Nigeria".  The 152.5m equinor deposit could be released in Q3.  Also lots of drilling activity to bring production back up ..(probably 2023 before that would happen).  Going forward I expect debt paydown to be reduced and dividends increased

Hedging:  All hedges expire in Sept and none going forward

11B/12B:  Expect to apply for Production rights in Sept

Producing Asset:  still looking at 2 or 3 prospects.

So, these things could all happen in Q3 so plenty to look forward to IMO.

Cheers
FB



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