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. > Increase the div instead of wasting $$ NCIB

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Comment by Ogopogo007on Oct 07, 2022 7:00am

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Post# 35011574

RE:RE:Increase the div instead of wasting $$ NCIB

AOI doesn't need $$$ for growth? Has offshore drilling become free?

NCIB are like drilling dusters...a bit of excitement at the time but them mngmnt gives themselves a whack of options...share count doesn't really go down.
Plus most shares are bought back at higher, not lower prices

mediocre management cannot think of anything better to do with the capital.

GE bot back over $50,000,000,000 worth of stock...where are they today?

https://ritholtz.com/2018/11/bad-buybacks/

https://www.theglobeandmail.com/globe-investor/investor-education/why-dividends-are-a-better-bet-than-share-buybacks/article29584070/

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