RE:A Real Dog’s BreakfastSelling probably because stupid Canadians the first to capitulate to Russians by shipping turbines back to German Nazis sponsors .....they deserve zero gas. W. Canada could learn some lessons from the Russians ....just turn off the gas and help the Canadian communists get to their carbon free goals sooner and get the pieline permits that much faster with military protection against indinginous terrorists.
Oregonduck wrote: Too many loose parts, This stock is a value trap.
Owning 50 percent of Prime O & G that owns 8 and 16 percent respectively of the Nigeria two offshore legacy wells that the two Brazilian companies
were desperate to offload for 3 years. Finally, only Petrobras was successful in selling out to AOI for $1 billion. Prime is made up of AOI and the remaining Brazilian Finance Co. AOI is still paying loan shark interest rates of Libor (3.5% base) plus 7.5%. Super majors are all selling off their Nigerian oil.
AOI now owns only 25 percent of its Kenya oil stake, minority interests in Impact Oil - a private co - that in turn owns minority interests in Africa Energy which holds minority interests in Impact. AOI also holds minority stakes in two public companies Eco Atlantic and Africa Energy.
How do you monetize all those discrete parts?
No major company will take a look at this "undervalued" and non-operating oil company to take it over. Lukas made his money already and doesn't care, and Keith Hill is a professional manager being paid $millions in remuneration,
The stock price languishing at low levels says it all.