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. > 30k bbl oil and 200M -$16B reserve entitlements

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Comment by firstworldon Jan 26, 2024 4:31pm

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Post# 35847856

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:30k bbl oil and 200M -$16B reserve entitlements

Suppe11 wrote: The last bad news in VLE was 6 month ago...the bad news in Aoi is, that the Agbami field will go on maintenance in Q1 = around zero chance for Prime fcf in Q1.

Last QTR was $7M loss at 20k bbl/d on $87 oil.

Last update was 19k bbl/d even though the had the 400bbl day up and running that they lost for many months due to accidents.

Q4 report in March is 4 weeks after usual mid Fen report....bad news.

Q4 will show a $20M+/- loss on lower oil prices and bickered than expected costs.

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