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. > Impact's stake in the Venus 1x up for sale....

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Comment by Ferryboyon Jun 06, 2022 3:23pm

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Post# 34735007

RE:RE:Impact's stake in the Venus 1x up for sale....

Is the $100m required for Appraisal drilling just for Impact's 20% share? Or $100m for Venus overall? Seems very high to be just Imapact's share. I thought a well was about $50m to drill although offshore in those waters could be higher .. someone correct me if I am wrong

Another question: Could AOI still stay in as part of Venus with its "effective" 6% share or are they tied to whatever Impact does? AOI clearly has the cash to fund it's share for quite some time

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