Africa Oil ( (TSE:AOI) ) has issued an announcement.
Africa Oil Corp. announced its 2024 fourth quarter and full-year financial results, highlighting a transformative year with strategic initiatives that strengthened its business proposition. The company is set to complete the consolidation of Prime Oil & Gas, which will enhance its scale and financial strength, allowing for increased shareholder returns. The reorganization is expected to double reserves and production, enabling Africa Oil to significantly increase its annual dividend distribution. The company returned a record $67.9 million to shareholders in 2024 and plans to continue this trend with a robust cash balance and strategic investments in the Namibian Orange Basin.
More about Africa Oil
Africa Oil Corp. is a company operating in the oil and gas industry, focusing on exploration and production. The company has a significant presence in Nigeria and the Orange Basin, with interests in producing assets and development projects. Africa Oil is committed to delivering shareholder value through strategic initiatives and disciplined growth opportunities.
YTD Price Performance: -9.09%
Average Trading Volume: 96,130
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $565.9M
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