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. > AOI Hedging Program

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Comment by Oregonduckon Jul 07, 2022 1:37pm

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Post# 34808950

RE:RE:AOI Hedging Program

Suppe11 wrote: Ah ok...that's past.
Btw. if they say f.e. "hedged 50% of production", that means, that they hedged first 6 month full und the next 6 month nothing (that's a difference to other companies).

No, that's not how it works...The hedge covered their annual entitlement. They got $68 bbl "blended" hedge and spot price in Q1, 2022. They couldn't take physical possession of the cargoes of oil. That was why one of the two oringinal partners - the largest oil trading co in the world - backed out of the Nigerian deal from Petrobras. AOI was left standing alone and taking on massive debts.

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