Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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

Comment by Lonegaurdian19on Jan 10, 2024 11:03pm
170 Views
Post# 35820722

RE:RE:looking for EOG.v to do similar

RE:RE:looking for EOG.v to do similar

Pump and dump implies either an issuance of shares or disposal by leadership with insider knowledge. Neither of those happened, in fact going 2-for-2 in a wildcat area is pretty darn good. They proved the working oil system existed but drilled the tertiary to save on costs, as it was at that time not known the Cretaceous (deeper decreases API)

Hind sight is 20/20, so let's use gold as an alternative. You think there is gold in them hils, a huge miner buys up the property next to yours and strikes it big. They find gold almost everywhere, you being the little guy with limited resources look for the lowest/cheapest drilling option to prove you've got gold.

you drill shallow and find gold, proving you have gold in your prospect. However it turns out shallow prospects are not nearly as good as the deeper ones that are worth billions.

Your partner Tullow, finds itself in extreme financial distress, bording on bankruptcy. They bring on a new CEO who does everything wrong, refinances the debt pegged to hedging their oil production at historically low prices. They then are locked in to drill a well that is far to shallow (water depth, Carapa). With that bad taste in their mouth they walk away and focus on what their bond holders need.

ECO should court CNOOP or Petronas, Guyana needs international support. Exxon is not well liked in terms of incresed acreage. Hess just got bought out. Petrobras could be interesting as well but who knows.

End of the day there are 2 prospects in the Cretaceous near Hammerhead that could yield 1.2 billion barrels so eventually someone will bite.

<< Previous
Bullboard Posts
Next >>