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Africa Oil Corp (AOIFF)
:AOIFF
Earnings Data
Report Date
May 09, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
<0.01Last Year’s EPS
<0.01Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 28, 2025
|% Change Since: 0.00%
|Next Earnings Date:May 09, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of strategic achievements and financial challenges. Africa Oil highlighted significant steps in shareholder returns, strategic acquisitions, and production performance, indicating a positive outlook. However, the company faced financial setbacks with a net loss primarily due to non-cash impairment and a decrease in cash balance. The overall sentiment is balanced with promising strategic developments but also notable financial challenges.Company Guidance
During the Africa Oil Corp. Fourth Quarter 2024 Results Presentation, the company provided several key metrics and guidance for the future. The company reported returning $68 million to shareholders through dividends and share buybacks, marking the largest annual return since its first dividend distribution in 2022. They anticipate a transformative event with the expected completion of the Prime deal by March 7, 2025, which would double reserves and production and implement a new annual base dividend of at least $100 million. In 2024, Prime achieved an average realized price of $84.6 per barrel, lifting 9 cargoes totaling 9 million barrels. Africa Oil recorded a net loss of $279.1 million due to a non-cash impairment in its investment in Prime but reported an EBITDAX of $242 million in Q4 2024. The company ended the year with a cash balance of $61.4 million and plans to present a consolidated 2025 production outlook post-Prime deal. Additionally, the Venus appraisal program was successfully completed, with development planning underway and a final investment decision expected by mid-2026.Largest Annual Return to Shareholders
Africa Oil returned almost $68 million to shareholders through base dividend policy and share buybacks, the largest annual return since March 2022.
Successful Venus Appraisal Program
Completion of the Venus appraisal program with positive updates and final investment decision expected by first half of 2026.
Strategic Acquisition in Impact Oil & Gas
Increased stake in Impact Oil & Gas to 39.5%, enhancing influence over strategic assets in Namibian Orange Basin.
Doubling Reserves and Production
Africa Oil is set to double reserves and production through Prime consolidation, taking direct control of Prime's cash flows and balance sheet.
Strong Cash Balance Post-Prime Deal
Combined cash balance with Prime is about $461 million, supporting financial strength and strategic priorities.
Positive Production Performance
Assets achieved average daily rates within full year guidance with successful well interventions in Akpo, Egina, and Agbami fields.
Capital Allocation Framework for Shareholder Returns
Introduction of a new capital allocation framework with an annual base dividend of at least $100 million and supplementary returns from free cash flows.
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AOIFF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AOIFF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 28, 2025 | $1.32 | $1.26 | -4.55% |
| Nov 13, 2024 | $1.28 | $1.29 | +0.78% |
| Aug 14, 2024 | $1.56 | $1.52 | -2.56% |
| May 15, 2024 | $1.73 | $1.70 | -1.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Africa Oil Corp (AOIFF) report earnings?
Africa Oil Corp (AOIFF) is schdueled to report earning on May 09, 2025, TBA Not Confirmed.
What is Africa Oil Corp (AOIFF) earnings time?
Africa Oil Corp (AOIFF) earnings time is at May 09, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AOIFF EPS forecast?
AOIFF EPS forecast for the fiscal quarter 2025 (Q1) is <0.01.
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