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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

Post by hikarion Nov 01, 2024 3:44pm
112 Views
Post# 36292909

good news

good news... from Nigeria, but the market and the share price react with minus 2% today.

[url=https://www.offshore-energy.biz/africa-oil-secures-regulatory-approval-for-enlargement-and-offshore-license-extension-in-nigeria/?]article about two approvals from Nigeria[/url]

IMHO it is not a good idea to sell AOI now. It is a waiting game, till we get
a)  the first increased dividends respectively
b)  a higher share price.

The higher dividend is a low risk gamble for AOI share holders.

And the share price should be influenced indirectly  to a certain degree by the Chevron exploration wells, the GALP appraisal wells and the BP/ENI exploration wells in the neighbouring offshore blocks and should be influenced directly by the Total/AOI exploration well in our Venus block. So we have some entertainment during the waiting time. 

In the case Total will start  production from the Venus block and from the block in South Africa, it would be a clever low risk strategy for Total to take over AOI IMHO.
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