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  5. AOI: What's your thoughts on the AOI and BTG amalgamation, will this event be accretive to AOI? [Africa Oil Corp.]
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Q: What's your thoughts on the AOI and BTG amalgamation, will this event be accretive to AOI?

thnx in advance
Asked by David on October 10, 2024
5i Research Answer:

We think it makes sense. AOI gets full control of its Nigerian operations and secures its core cash generating assets. It moves forward the CEO's goal of becoming a leading independent pure-play exploration and production company. The larger company will have strong finances and opportunities to pursue growth in Africa. AOI has indicated that accretion to per share cash flow in the 2025 to 2029 period is expected to be 100% and this should support a $100M base dividend. 

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