AOI.TO - Africa Oil Corp.

Toronto - Toronto Delayed Price. Currency in CAD
1.0600
+0.0200 (+1.92%)
At close: 3:50PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close1.0400
Open1.0300
Bid1.0600 x 0
Ask1.0700 x 0
Day's Range1.0300 - 1.0700
52 Week Range0.7100 - 1.6600
Volume86,365
Avg. Volume78,709
Market Cap500.267M
Beta (5Y Monthly)1.72
PE Ratio (TTM)N/A
EPS (TTM)-0.6240
Earnings DateAug 13, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1.25
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Africa Oil Kenya Update
      CNW Group

      Africa Oil Kenya Update

      VANCOUVER , May 15, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") announces that Tullow Oil Kenya B.V., the operating partner on Blocks 10BB and 13T in Kenya , has today submitted notices of force majeure to the Kenyan Ministry of Petroleum and Mining on behalf of the joint venture partners in these blocks. Declaration of force majeure allows time for an improvement in the operating environment and for the joint venture partners, to discuss with the government of Kenya the best way forward for this strategic project.

    • Africa Oil Receives Third Dividend from Its Nigerian Asset
      CNW Group

      Africa Oil Receives Third Dividend from Its Nigerian Asset

      Africa Oil Receives Third Dividend from Its Nigerian Asset

    • Africa Oil Announces 2020 First Quarter Financial and Operating Results
      CNW Group

      Africa Oil Announces 2020 First Quarter Financial and Operating Results

      VANCOUVER , May 7, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2020 . Africa Oil closed the acquisition of a 50% ownership in Prime Oil and Gas B.V. ("Prime")1 for a cash consideration of $519.5 million . Prime holds interest in deepwater Nigeria assets, including three oil fields, that in aggregate produced ~530,000 barrels of oil equivalent per day2 ("boepd") during the period.

    • Africa Oil Announces Voting Results from Annual General and Special Meeting
      CNW Group

      Africa Oil Announces Voting Results from Annual General and Special Meeting

      Africa Oil Announces Voting Results from Annual General and Special Meeting

    • Is Africa Oil Corp. (TSE:AOI) A Volatile Stock?
      Simply Wall St.

      Is Africa Oil Corp. (TSE:AOI) A Volatile Stock?

      If you're interested in Africa Oil Corp. (TSE:AOI), then you might want to consider its beta (a measure of share price...

    • Kenya Tax Appeals Tribunal Update
      CNW Group

      Kenya Tax Appeals Tribunal Update

      Kenya Tax Appeals Tribunal Update

    • Africa Oil Receives Second Dividend from its Nigerian Asset
      CNW Group

      Africa Oil Receives Second Dividend from its Nigerian Asset

      Africa Oil Receives Second Dividend from its Nigerian Asset

    • Africa Oil announces share capital update
      CNW Group

      Africa Oil announces share capital update

      Africa Oil announces share capital update

    • Africa Oil Chairman's Letter to Shareholders
      CNW Group

      Africa Oil Chairman's Letter to Shareholders

      TORONTO , March 30, 2020 /CNW/ - Africa Oil Corp. (AOI – TSX, Nasdaq Stockholm)… Chairman of the Board, John Craig publishes a letter to shareholders. New procedures include mandatory onshore quarantine for the crews, before they are transported offshore, regular health screening on the offshore facilities and a strict hygiene regime.

    • Africa Oil Releases its Year-End 2019 Statement of Reserves
      CNW Group

      Africa Oil Releases its Year-End 2019 Statement of Reserves

      VANCOUVER , March 26, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("Africa Oil" or the "Company") is pleased to announce the posting of its end of 2019 statement of reserves on SEDAR (www.sedar.com). This disclosure is based on an independent reserves evaluation, effective 31 December 2019 , prepared by Lloyd's Register ("LR") for Africa Oil in accordance with Canadian National Instrument 51-101 – Standards for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook"). Africa Oil's statement of reserves is based on the Company's 50% ownership interest in Prime Oil & Gas B.V. ("Prime").

    • Africa Oil's Annual General and Special Meeting of Shareholders to Be Held on April 21, 2020
      CNW Group

      Africa Oil's Annual General and Special Meeting of Shareholders to Be Held on April 21, 2020

      VANCOUVER , March 25, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce that its Annual General and Special Meeting of Shareholders will be held on Tuesday, April 21, 2020 at 9:00 am (Pacific Time) at Suite 2000, 885 West Georgia Street Vancouver, BC , V6C 3E8. The information was submitted for publication, through the agency of the contact persons set out above, at 9:30 p.m. ET on March 25, 2020 .

    • Africa Oil Reiterates 2020 and 2021 Oil Price Hedges and Its 2020 Management Guidance
      CNW Group

      Africa Oil Reiterates 2020 and 2021 Oil Price Hedges and Its 2020 Management Guidance

      VANCOUVER , March 16, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("Africa Oil" or the "Company") wishes to reiterate the oil price hedges arranged by its investee company, Prime Oil & Gas B.V. ("Prime").

    • Africa Oil Announces Q4'19 and FY'19 Financial and Operating Results and 2020 Management Guidance
      CNW Group

      Africa Oil Announces Q4'19 and FY'19 Financial and Operating Results and 2020 Management Guidance

      VANCOUVER , Feb. 25, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2019 . The Company is also releasing today, its 2020 Management Guidance including guidance related to its 50% equity investee, Prime Oil & Gas B.V. ("POGBV"), a company that holds interests in deepwater Nigeria assets. 2020 estimate of average daily working interest ("W.I.") production range of 30,000–33,000 barrels of oil equivalent per day ("boe/d") and net entitlement production range of 35,000-38,000 boe/d net to AOI's 50% shareholding in POGBV, with more than 85% expected to be medium and light oil.

    • Africa Oil Announces Completion of Farmin to Block 3B/4B in South Africa and Further Investment in Impact Oil & Gas
      CNW Group

      Africa Oil Announces Completion of Farmin to Block 3B/4B in South Africa and Further Investment in Impact Oil & Gas

      VANCOUVER , Feb. 7, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce that the government of South Africa , has approved the acquisition of a 20% participating interest in the Block 3B / 4B Exploration Right from Azinam Limited ("Azinam") by its wholly-owned subsidiary, Africa Oil SA Corp.. Africa Oil Corp. will assume operatorship for the joint venture partners; Azinam will retain a 20% participating interest and Ricocure (Pty) Ltd retains a 60% participating interest.

    • Africa Oil Receives First Dividend from its Nigerian Asset
      CNW Group

      Africa Oil Receives First Dividend from its Nigerian Asset

      VANCOUVER , Feb. 4, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce that it has received its first dividend from Prime Oil and Gas B.V. ("POGBV", previously known as Petrobras Oil and Gas B.V.), a company that holds interests in deepwater Nigeria production and development assets. POGBV has distributed a US$125 million dividend with a net payment to Africa Oil of US$62.5 million related to its 50% interest. The Company will apply this amount, and any future dividends, in priority towards the repayment of its US$250 million POGBV acquisition loan, in order to accelerate the repayment of the loan principal amount.

    • Africa Oil Announces the Closing of the Acquisition of Producing Assets in Deepwater Nigeria
      CNW Group

      Africa Oil Announces the Closing of the Acquisition of Producing Assets in Deepwater Nigeria

      VANCOUVER , Jan. 14, 2020 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce the closing of the acquisition (the "Acquisition") of a 50% ownership interest in Petrobras Oil and Gas B.V. ("POGBV"). The total cash payment by AOI to close the Acquisition, including the Nigerian Government's consent fee, amounts to $519.5 million . The primary assets of POGBV are an indirect 8% interest in Oil Mining Lease ("OML") 127 and an indirect 16% interest in OML 130.

    • Africa Oil 2019 Third Quarter Financial and Operating Results
      CNW Group

      Africa Oil 2019 Third Quarter Financial and Operating Results

      VANCOUVER , Nov. 13, 2019 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) - Africa Oil Corp. ("Africa Oil" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019 . Subsequent to end of the quarter the Company announced it had entered into an amendment to the share purchase agreement (the "Amended SPA") signed on October 31, 2018 , between Petrobras International Braspetro B.V. and Petrovida Holding B.V. ("Petrovida"), a company formed to acquire an ownership interest in Petrobras Oil and Gas B.V. ("POGBV"). Consequently, Africa Oil will be the sole acquirer of the 50% interest in POGBV, having increased its ownership in Petrovida to 100%.

    • Can We See Significant Institutional Ownership On The Africa Oil Corp. (TSE:AOI) Share Register?
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      Can We See Significant Institutional Ownership On The Africa Oil Corp. (TSE:AOI) Share Register?

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    • Reuters

      UPDATE 1-Equatorial Guinea to award 7-8 blocks in Nov, press for more drilling

      Equatorial Guinea's Oil Minister Obiang Lima said on Wednesday that the central African nation would award 7-8 blocks from its current licensing round at the end of November. The country received a total of 21 bids on 13 blocks, out of 27 initially offered, Lima said. Obiang Lima also told the Africa Oil Week conference in Cape Town that Equatorial Guinea would open a data room for companies interested in the Zafiro oilfield license as soon as possible.

    • Africa Oil Enters Into Amended Agreement to Increase its Interest in Deepwater Nigeria Fields
      CNW Group

      Africa Oil Enters Into Amended Agreement to Increase its Interest in Deepwater Nigeria Fields

      VANCOUVER , Nov. 1, 2019 /CNW/ - (AOI–TSX, AOI–Nasdaq Stockholm) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce that it has entered into an amendment to the share purchase agreement (the "Amended SPA") signed on October 31 st, 2018, between Petrobras International Braspetro BV ("PIBBV") and Petrovida Holding B.V. ("Petrovida"), the company formed by the consortium of  Africa Oil, Delonex Energy Ltd. ("Delonex") and Vitol Investment Partnership II Ltd. ("Vitol") to acquire an ownership interest in Petrobras Oil and Gas B.V. ("POGBV"). This follows Vitol and Delonex decisions to withdraw from the previously announced purchase of 50% of the share capital of POGBV.

    • Africa Oil Announces Second Oil Discovery Offshore Guyana
      CNW Group

      Africa Oil Announces Second Oil Discovery Offshore Guyana

      Africa Oil Announces Second Oil Discovery Offshore Guyana

    • Africa Oil Announces London Office Opening and Management and Board Member Change
      CNW Group

      Africa Oil Announces London Office Opening and Management and Board Member Change

      VANCOUVER , Sept. 3, 2019 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. ("Africa Oil" or the "Company") reports that it has opened a new corporate office in Central London as of September 1 , 2019.  Three senior management staff will be relocating to London including Keith Hill (CEO), Tim Thomas (COO) and Paul Martinez (VP Exploration).  The technical and accounting staff and function will continue to be located in the Company's existing Calgary office.  This relocation is designed to facilitate greater access to the investment community, partners in our existing ventures and deal flow in the current highly prospective growth market for oil and gas assets. View PDF version. In addition to these relocations, Africa Oil is adding two key staff members to its management team.

    • Africa Oil Announces Spud of Joe-1 Well Offshore Guyana
      CNW Group

      Africa Oil Announces Spud of Joe-1 Well Offshore Guyana

      Africa Oil Announces Spud of Joe-1 Well Offshore Guyana

    • Africa Oil 2019 Second Quarter Financial and Operating Results
      CNW Group

      Africa Oil 2019 Second Quarter Financial and Operating Results

      Africa Oil 2019 Second Quarter Financial and Operating Results

    • CNW Group

      Africa Oil Announces Major Oil Discovery Offshore Guyana

      VANCOUVER , Aug. 12, 2019 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. ("Africa Oil" or the "Company") is pleased to announce a significant oil discovery on the Orinduik Block, offshore Guyana . Evaluation of logging data confirms that the Jethro-1 is the first discovery on the Orinduik licence and comprises high quality oil-bearing sandstone reservoir of Lower Tertiary age. The Jethro-1 well confirms the continuance of the petroleum system onto the Orinduik Block, up dip from the prolific discoveries on the neighbouring Exxon operated Stabroek Block.  The well has resulted in a mitigation of risk in terms of the presence of quality reservoir sands, seal and trap.  There are multiple drilling targets on the block with similar geophysical characteristics and the Stena Forth drill ship is moving immediately to its next target, Joe-1.