AOI Stock Recent News

Africa Oil Corp (TSX:AOI) has completed its long-awaited consolidation of Prime shareholding, a move hailed as “transformational” for the company by analysts at Peel Hunt. The deal doubles Africa Oil's reserves and production through high-quality offshore assets in Nigeria that offer low lifting costs, Brent-linked pricing, and a favorable fiscal environment, analysts highlighted.

Africa Oil Corp (TSX:AOI) has completed the consolidation of its Prime Oil & Gas Coöperatief UA shareholding, a move the company says will enhance shareholder returns and strengthen its financial position. The Canadian oil and gas firm now owns 100% of Prime, having acquired BTG Pactual's remaining 50% stake.

Africa Oil Corp (TSX:AOI) has earned a repeat ‘Buy' rating from analysts at Stifel following the release of its fourth quarter financial and performance results. The analysts highlighted that Africa Oil's results were within guidance and slightly ahead of their estimates, with the consolidation of Prime imminent.

Africa Oil Corp (TSX:AOI) CEO Roger Tucker has reflected on 2024 as a “transformative year” for the company as it has executed several strategic initiatives to strengthen the business. The company's proposed reorganization, expected to be completed by March 7, 2025, is set to double reserves and production while granting direct control over Prime's cash flows.

Africa Oil Corp (TSX:AOI) said on Friday that its Swedish prospectus for listing new shares on Nasdaq Stockholm had been approved. The Canadian oil and gas company had agreed in June to merge its stake in Prime with that of BTG Pactual Oil & Gas, in a deal aimed at simplifying ownership of the deepwater Nigeria-focused producer.

Africa Oil Corp (TSX:AOI) has provided an update on its offshore Namibia operations, following a drilling report from Impact Oil & Gas, in which Africa Oil holds a 39.5% stake. Impact announced that it has completed drilling and testing at the Tamboti-1X exploration well in Block 2913B (PEL 56).

Africa Oil Corp (TSX:AOI) told investors it is expecting to receive $31.6 million in dividends from Impact Oil & Gas, which has approved some $80 million of gross dividends. The dividend payment, which equates to approximately $0.07 per share, is due to be paid from 29 January.

Africa Oil Corp (TSX:AOI) told investors it is expecting to receive $31.6 million in dividends from Impact Oil & Gas, which has approved some $80 million of gross dividends. The dividend payment, which equates to 7.02 cents per share, is due to be paid from 29 January.

Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) has completed its transaction with Africa Oil Corp (TSX:AOI), which saw the sale of 1% of Block 3B/4B. The AIM-quoted firm's stake has reduced to 5.25% as a result.

Africa Oil Corp (TSX:AOI) announced that its shareholders have overwhelmingly approved the resolution to consolidate 100% ownership of Prime Oil & Gas Coöperatief U.A. (Prime) in Africa Oil.