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. > Suppe11

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Post by Malpeque2on Aug 22, 2022 10:23am

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Post# 34911120

Suppe11

This is Nigeria offshore with some majors as operators with FPSO's. A major field in Nigeria. Major production. I don't see as much risk as you do, but will give you the benefit of the doubt.

So can you show me some others trading at similar valuations that are debt free? Or low debt to EBITDA < 1. That do not have a "control" shareholder. The best I can find are PBR, CVE, and Internationa Petroleum Corp but all are either higher valuations and/or Brazil govt. as a control shareholder.

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