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.

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Africa Oil Corp. > BTG consolidation

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Post by papaloapanon Jun 24, 2024 6:39am

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Post# 36102811

BTG consolidation

Interesting agreement over the weekend with BTG. If I read it correctly, Prime becomes 100% owned by AOI, and BTG becomes a 35% owner of AOI.

Current shareholders essentially double the cash flow from Prime in return for a circa 1/3 dilution. The gap is essentially perceived value of other AOI assets, but it leave room for increaed distribution.

It is effectively a change of control . Anyone know enough about BTG to understand the impact on future direction ?

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