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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. > I thought NCIB was to help Lundin's exit
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Comment by firstworldon Dec 06, 2023 11:56am
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Post# 35771131

RE:RE:I thought NCIB was to help Lundin's exit

RE:RE:I thought NCIB was to help Lundin's exit
DAGUY wrote: If you listen to some of the meetings, everyone wants to improve shareholder value. One way is dividends and one way is NCIB. The big players in AOI don't seem to want dividends but with NCIB the stock value should go up with less stock out there.WIth everyone complaining about the share price they already have a dividend (which i think they could increase without really using too much extra cash) but instead decided on another NCIB... Hopefully they will buy at lower stock prices compared to last time where they seemed to mostly buy at higher stock prices... 

JMO


If imrecall correctly they bought from 1.85 to 3.35.

The buy back is tailored to swedes who have better tax situation capital gain vs div.

AOI needs to save all cash thats why msasly 100M buy back spread out over 12 mths thay can stop at anytime and fund Orange basin
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