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.

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Africa Oil Corp. > Back of the envelope math

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Post by Lonegaurdian19on Oct 17, 2022 7:09pm

250 Views

Post# 35030284

Back of the envelope math

Looking at the numbers, this year and last:

23-27 k production

realized:

$77.1 Q2 2022 per barrel
$58.7 Q2 2021 per barrel

FCF:

$52.8 Q2 2022, cost $14.3
$30.9 Q2 2021, cost $17.5

Estimate:

$90 Q3 2022, cost $17.5 = $75

23k X $75 X 90 days = $155,000,000

155,000,000

Less Debt payment (% of 170 Mil remaining)

assuming share repurchases are from cash on hand

Seems they'll have enough left over to double the Divy.