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. > New RBL

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Comment by Ferryboyon Jun 07, 2023 11:47am

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Post# 35484494

RE:RE:New RBL

It was always the plan to try and get the money out of Nigeria. Keith Hill mentioned it many times. So I think they will receive a large dividend from Prime shortly. Prime should still be able to finance ongoing drilling from FCF

My speculation is that maybe, just maybe, they are finally going to buy that long awaited Producing Asset. Why else do you need all that cash? The AOI loan facility of $200m + (surplus) cash on hand in AOI of $100m + any dividend from Prime. Thats a lot of cash

Like I said..just speculation on my part

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