RE:2023E DAFCF yieldThanks Carbide for the nice find! VET is the next cheapest, AOI wins by a pretty wide margin.
VET has debt /last 12 months OCF or EBITDA of about 1. So there is some financial or gearing risk.
AOI Market Cap is $1B US but EV closer to $800M US as we have $190M plus cash and Net Working Capital is positive $150M US.
I see a significant problem with the NCIB. 10% of the float over 12 months is better than nothing, but the OCF and FCF is going to build on the balance sheet at current oil prices from the Nigeria production at a MUCH MUCH faster rate. Hence it's going to take a combo of increase in Buybacks thru a SIB, increased semi annual dividend, and some special dividends to return the capital to it's owners.