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. > My take

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Comment by Ferryboyon Aug 11, 2022 9:06am

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Post# 34887728

RE:RE:RE:My take

Price realized in Q2 for sales was $77 vs $68 in Q1 ..so getting better. Also notes mention 2 further liftings in July where the realized price was $103. That's probably $100m to AOI .. so there hedging strategy just got a whole lot better

Drilling activity in Nigeria appears to be ramping up although it will be 2023 before we see any benefits from this

Usual catalyst still in play .. hopefully we get closure on some in 2H 2022

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