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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

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

Post by Lonegaurdian19on May 16, 2023 12:40am
356 Views
Post# 35449602

From the CC

From the CC"Keith Hill
Yes. But again, we're talking with several
different companies that have different ob-
jectives. Obviously super majors love to
operate and for the right price and the
right deal, we would be willing to give up
operatorship. I think as far as giving up in-
terest, I think it's pretty much proportional.
We're not that interested in giving up too
much interest. We've only got 20%, so I
don't think we would go below 15%. I think
our two partners have other criteria partic-
ularly re-procure the interest indis-
cernible] a bigger number, I think if we add
up as a group giving up plus or minus
50% between us I think we stand with that"

Not sure about BEE limits (what they can farm down to legally), but looks like KH is expecting around $20 million plus for 5% (assuming only one carry)
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