Africa Oil Corp. (AOIFF)
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Meren doubles reserves and lifts dividend to $100M – ICYMI
Meren Energy Inc (TSX:MER, OTC:AOIFF) earlier this week completed an interview discussing its recent Prime consolidation and future plans. The company said the Prime transaction was transformational, doubling reserves and production from assets it has tracked for over five years.
Meren Energy: New Name But Same Excellent Prospects
The merger doubling Meren Energy's cash flow enables the pursuit of larger offshore projects. Current Nigerian operations remain the main cash flow source. Future projects in Namibia and South Africa offer higher potential market valuation due to stable governments and strong infrastructure.
Meren Energy is well placed for its growth voyage, CEO Roger Tucker eyes E&P consolidation
Sometimes rebranding can be tough, and sometimes rebranding can go awry - just ask Aberdeen and Jaguar – but, other times the branding moguls can deftly redefine a company's identity. It's with that in mind that I draw your attention to the company formerly known as Africa Oil, which was earlier this month relaunched as Meren Energy Inc (TSX:MER, OTC:AOIFF).
Africa Oil Corp. (AOIFF) Q1 2025 Earnings Call Transcript
Africa Oil Corp. (OTCPK:AOIFF) Q1 2025 Earnings Conference Call May 16, 2025 9:00 AM ET Company Participants Shahin Amini - Investor Relations Manager Roger Tucker - President and Chief Executive Officer Aldo Perracini - Chief Financial Officer Oliver Quinn - Chief Commercial Officer Conference Call Participants Teodor Sveen-Nilsen - SB1M Operator Hello, everyone. My name is Laura, and I will be your conference operator today.
Africa Oil Corp rebrands as Meren Energy following transformational deal
Africa Oil Corp has announced it will change its name to Meren Energy Inc, as it emerges from a phase of transformation. It comes after the completion of the company's transactions to consolidate interests in Nigeria (the Prime consolidation), which closed in March, and marked the firm's maturation into a ‘full cycle' E&P (exploration and production) company.
Africa Oil Corp. Starts Its Double-Digit Dividend
Africa Oil Corp.'s merger with BTG Group has doubled its production and cash flow, issuing only 35.5% of new shares. The company has declared its first dividend at nearly 10%, with a $100 million annual base and potential for additional special dividends. Despite declining Nigerian assets, the company focuses on new projects like Venus-1X, aiming for substantial shareholder returns.
Africa Oil Corp bullish on Nigeria growth, Namibia long game
Canada's Africa Oil Corporation will double its Nigerian output and the size of its reserves there once it completes its deal for full ownership of Prime Oil next Tuesday, a senior company executive said.
Africa Oil Corp.'s Earnings Spell Opportunity
Africa Oil Corp.'s 4Q 2024 earnings justify its $600 million market cap, with strong 2025 prospects for shareholder returns despite production issues. The merger with BTG Oil & Gas will double FCF, enabling a $100 million annual dividend and potential share repurchases. The Venus Oil development offers long-term growth, with TotalEnergies covering costs, and significant future production from South Africa's Orange Basin.
Africa Oil Corp. (AOIFF) Q4 2024 Earnings Call Transcript
Africa Oil Corp. (OTCPK:AOIFF) Q4 2024 Earnings Call February 28, 2025 9:00 AM ET Company Participants Shahin Amini - Investor Relations Manager Roger Tucker - President and Chief Executive Officer Pascal Nicodeme - Chief Financial Officer Oliver Quinn - Chief Commercial Officer Conference Call Participants Harrison Lock - Stifel Operator Hello, everyone. My name is Sonia and I will be your conference operator today.
Our Top Oil Pick For 2025 Is Buying Back Shares
Africa Oil Corporation's share repurchase program aims to reduce outstanding shares by 6% annually, enhancing shareholder value alongside a robust dividend policy. The company is expanding through strategic agreements and increased ownership of promising assets, ensuring future growth and strong cash flow. With a projected $200 million in capex and $400 million in operating cash flow, Africa Oil expects substantial free cash flow, supporting shareholder returns.
Africa Oil's Q3 2024: A Strong Quarter Signals Impending Share Price Recovery
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.
Africa Oil Corp.: Strategic Acquisition Driving High-Yield Potential
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.
