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.

TSX:AOI - Post by User

Africa Oil Corp. > Algo Attack

<< Previous

Bullboard Posts

Next >>

Comment by Fortunason Sep 28, 2023 10:24am

194 Views

Post# 35659169

RE:Algo Attack

Yep. The move below C$3 on TSX likely doesn't help, as that wipes out the small margin that was available for anyone holding it through that listing. And the Bloomberg headline suggesting the Nara dry hole created concerns around viability of Venus likely just added more fear selling than is warranted. The stock is underperforming comps by 15-25% this week, while the vast majority of the value proposition is intact (or in the case of Venus itself, slightly de-risked by drilling and testing).

<< Previous

Bullboard Posts

Next >>

Mullen Group's Robust Case for Value, Part 1: Less-than-Truckload