Africa Oil Corp. T.AOI

A LITTLE MORE AFRICA OAK ISLAND BITES THE DUST

[EGF30]

Weeks later I still cannot get over this management’s team attempt at deceiving investors by knowingly putting in a reference to a ‘Special Dividends’ that I perceive and believe to be a misguided and poorly thought out idea with no intention of this ever being acted on.
 
Pure deception and the reference as of today is still in the presentation with management knowing this and yet the reference remains.
 
Smells a bit like desperation to me.
 
With that, earlier this week as I said I would taking the plunge and selling off a couple more chunks of Africa Oak Island at 2.46 another at 2.50 and put all of the proceeds toward CNQ in 2 buys for an average of $99 ish.
 
For me it wasn’t hard at all to make the decision.
 
Top shelf management, an upcoming stock split, a 4% dividend, etc. etc. etc.

You just can't say enough ---- or pay enough for top shelf leadership.

Regardless of whatever future value these guys bring or do not bring for investors I have no respect for this management team of Africa Oak Island and will look for a place a sell off the rest in anywhere from 1-3 sells with all proceeds going to CNQ keeping all of the cash in the energy space.
 
If I said I am really excited about owning CNQ it’s a clear understatement so if Africa Oak Island miracoulsy doubles tomorrow or next year or the next, I will be more than comfortable with my decision to go with CNQ.  
 
What a breath of fresh air it is...
 
Having said that, tomorrow still looks very bright for AOI and its world class assets, but it seems too far off to me when the money is far better off with a proven top shelf team than with an entire team of who I have come to perceive to be shady characters.
 
For those of you who are in the dividend camp, consider ‘Whitecap Resources’ (WCP) paying a hefty 7% dividend.
 
Shahin – in case you have forgotten my request to get the reference to special dividends out of the May 16^th presentation – read my lips and get it out of the presentation yesterday.

Only your corporate credibility is at stake here...............
 
It’s clearly misleading and all of you know it is as right before my very eyes Pascal confirmed there will not be a special dividend – so why is it still in there Sir?
 
GLTA.

[tdon1229]

EGF, AOI does not control the number of lifts nor the timing which result in the dividends to Prime, so it cannot commit to increasing the regular dividend.  However, if the opportunity presnts itself, then a dividend could be paid on a non-recurring basis; i.e., a special dividend could be paid, but currently cannot be scheduled. There's room for more than just your view.  If you