Africa Oil Corp (AOIFF)

[Scarbender307]

A repeat but, WOW!!!

Africa Oil Corp. Shareholder Returns

Africa Oil Corp. has already guided to strong 2H 2022 cash flow. The company has already said that it's sold two July cargoes at more than $100 / barrel and it's guided towards another August cargo at more than $85 / barrel. The company's cargoes average roughly 1 million barrels, which implies roughly $300+ million in revenue for the 3rd quarter.

The company is at a net cash position counting Prime Oil and Gas, and without that, the company is at a much stronger net cash position. The company can afford to repurchase the targeted 10% of the float over 12 months, which we expect that the company will do on top of its dividends. All of that put together means double-digit shareholder returns.

That makes Africa Oil Corp. a valuable investment.