Africa Oil Corp (TSE:AOI) has released an update.
Africa Oil Corp. reports a prosperous 2023 with a net income of $87.1 million, a substantial improvement from the previous year’s loss. The company achieved its production and cash flow targets, distributed three dividends totaling $175 million, and initiated a new share buyback program. Key developments include a 20-year renewal of the OML 130 license, fostering long-term stability, and the promising appraisal of the Venus discovery, setting the stage for future growth.
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