Africa Oil Corp. T.AOI

Bearish Chart

[Oregonduck]

Triple Top or Head-and-Shoulders forming.

AOI still owing $141million to BTG. As well, Prime is heavily laden with $1.3 billion in RBL loans. The Co had pawned off its cash flow to pay down the RBL loans.

Prime took a huge impairment charge on its OML 130 concession and expects another charge on OML 127 at y/e on Dec. 31.

1P proven resource could be depleted by 2021/22 unless the 2P probable resource can be converted.

[DAGUY]

From my reading the other day, Egina was started in December 2018. Estimated 550 million barrels... Even at 220K BOEPD that is almost 7 years. I can't see it running out until the end of 2025. In that time we should be able to pay off most if not all the RBL and the BTG will well be fone by then and cash will be flowing that isn't going toward the loan. I am not sure how much is left in

[DAGUY]

Should be around 40ish (not 50ish) million barrels remaining if not more as there were cutbacks this year. 

[Lonegaurdian19]

So a couple things. There are several prospects that have the potential for a tie in to the FPSO but this cap ex is being held up by total vs the Nigerian government. Basically these extra proven fields wil be needed to maintain production down the line. They will also require our percent of cap ex. Net-Net these coming on line will be a positive as the FPSO is already built and excess reserves