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. > Africa Oil

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Comment by papaloapanon Jun 16, 2023 7:34am

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Post# 35499696

RE:Africa Oil

They announced a few weeks ago that the exploration well was a success, hitting reservoir, and some distance from the first well, and reaching expectatios. They did not get involved in any further speculation about reserves etc. Production development well has been delayed due to rig issues.

https://www.marketscreener.com/quote/stock/TOTALENERGIES-SE-4717/news/AfrOil-TotalEnergies-delays-production-testing-at-Venus-1X-44036107/

I did read somewhere that if this campaign - half ot Total's exploration budget - supports the higher end of the potential range, the development will eventually require up to 7 FPSO's of circa 180,000 bbl/d each.

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