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. > Not enough skin in the game

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Comment by Lonegaurdian19on Jul 13, 2022 12:40am

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Post# 34819806

RE:Not enough skin in the game

It will be interesting to see how it all plays out. My main concern is available suitors for Impact and Africa Energy, not sure there are many majors that would bite, maybe PE. With that, the majors might have some leverage.

If AOI can hedge up a few cargos > 90 the dividend should be increased or buybacks wouldn't hurt. I still think Eco will merge with AOI in an all stock deal. To me, that makes the most since given Nigeria could be used to fund future capex to maximize the value of their existing portfolio.

keeping my eye on Impact and AFE to see what the market will bear.

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