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. > venus deal: from 6 to 3% reduced but carried till production

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Comment by firstworldon Jan 12, 2024 4:30pm

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Post# 35824396

RE:RE:RE:RE:RE:RE:RE:RE:venus deal: from 6 to 3% reduced but carried till production

Malpeque2 wrote: I would figure that ALL of the Production working interest profit percent would go towards the Repayment of the Capital Spend in any one quarter until the Capital Up Front Spend is Paid Back from Impact to Total.

In this case it seems the only value of the deal to AOI is dumping the mobilization liability, plus reserves value since they won't see a dime in cash flow for 10-20 yr.

SH wont see a dime ever on this deal though BoD will get many millions in bonuses haha.

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