Africa Oil Corp

Africa Oil Corp (TSX:AOI) announced the completion of a strategic acquisition, raising its stake in Impact Oil and Gas Limited to 39.5% on a fully diluted basis. In the deal it purchased an additional 7% interest, acquiring 80.16 million shares at a price of £0.57 per share.» Mehr auf proactiveinvestors.com

Africa Oil's Q3 2024 net loss of US$289.2 million was due to a non-cash impairment; adjusted net income was US$25.3 million, with strong EBITDAX and free cash flow. Production increased by 13.3% in Q3 2024, with further growth expected; no planned maintenance shutdowns for the rest of 2024. The company resumed share buybacks and plans high-yield dividends, presenting an attractive investment opportunity as the stock is undervalued.» Mehr auf seekingalpha.com

Africa Oil Corp.'s acquisition of Prime Oil and Gas will double FCF and provide substantial shareholder returns, with a combined market cap of $875 million. AOIFF has a strong portfolio, including a 39.5% stake in Impact Oil & Gas, worth over half of its market cap. The reliable cash flow from Prime Oil and Gas assets supports a base dividend policy of $100 million, yielding 11%, with potential for a 33% yield.» Mehr auf seekingalpha.com