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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 Looked At Lundin Group Of Companies
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Comment by firstworldon May 19, 2024 11:31am
114 Views
Post# 36047979

RE:RE:RE:RE:RE:RE:RE:I Looked At Lundin Group Of Companies

RE:RE:RE:RE:RE:RE:RE:I Looked At Lundin Group Of Companies
Suppe11 wrote:
GoldfingerU3O8 wrote: I fully agree Hikari.
Why is AOI management getting big pay slips. For sleeping?
I don't have the impression that this is a well run company.

The point is not, that Tucker gets a big salary + freebies for sit and wait...the whole boards and figureheads at Prime, Aoi, Impact, Eog and, Afe are paid by the Nigerian assets....ah, plus one bank...for sit and wait.

Fat pay and perks for sitting around is fine just distribute 80% of free cash flow to SH since dont need it anyway waiting for Orange Basin that's fully financed and still ultra high risk with no FID.

They are saving the cash to keep their fat pay in case orange basin not approved and Nigeria burns out.

Anyone hear results of infill and their $45M cash entitlement from the recent $90M deal cash component at prime?

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Dealroom for high-potential pre-IPO opportunities