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. > Another View on Results

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Post by retiredcfon Nov 20, 2022 8:26am

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Post# 35113528

Another View on Results

Results look good, with EPS of 14c beating estimates of 10c. Revenue of $76.5M beat $68.6M. EBITDA of $210M beat estimates of $65.8M. Income rose 21%, cash is $207M. AOI continues to aggressively buy back shares. Assets rose 15%, production guidance was maintained. This was a solid quarter and the stock remains very cheap and the company is financially strong. (5iResearch)

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