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Africa Oil AOI TSX.V Time to take some Profits?
I got in a little late on this one but managed to take some profits even though regretfully I could have made a whole bunch more but a profit is a profit and experience has taught me not to be a greedy pig or I risk the high possibility of being slaughtered.. My advice from my hard and ver expensive lessons learned at the School of Hard Knocks is ALWAYS TAKE SOME PROFITS. In my life , I have had many winners but let them slip away by hanging on, loading up and losing out. I can honestly say that the majority of the time these stocks can be bought back again at more reasonable prices. Africa OIL is bouncing off that 10 dollar mark and has all the earmarks of lots more upside, but bumps in the road appear 99% of the time. If you are a winner here, my advice is to take some profits while keeping a core position. If you have a huge profit and can retrieve your original investment, please give it serious consideration. Nobody can predict the top or the bottom and day traders,flippers whatever are now attracted like magnets to this stock and will influence the price up and down. Advance forward but KEEP YOUR TAIL COVERED
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Re: Africa Oil AOI TSX.V Time to take some Profits?
Another thing CEO Keith Hill talked about at the AGM was of a very large Natural Gas discovery in Kenya that was the equivalent of 2 billion barrels of oil, when they put out a press release on it in the past it did nothing for the stock ( due to the market not favouring NG ). He said that was a mistake by the market, because of the location of the NG it would prove very valuable for AOI.
Here is an old BNN video about AOI worth watching. http://watch.bnn.ca/#clip306590
I am also a shareholder of HORN, but I was unaware of the AGM that proceeded Africa Oil's so unfortunately I can't make any comments on it. Although Keith did talk about it at AOI's AGM. He did say that the reason they spun it out of AOI was because of the American perception of Somalia. Even so AOI controls the destiny of HORN.
Re: Africa Oil AOI TSX.V Time to take some Profits?
I just got back home after attending AOI's annual meeting, being in person was far better then hearing it on the Internet. VERY, VERY, IMPRESSIVE!! AOI's excellent land package in East Africa is the size of the United Kingdom, One part is as big as all the Oil and Natural Gas areas combined in the North Sea.
CEO Keith Hill said being early in the area enabled them to obtain the best properties. He when over in great deal each slide he put on the screen VERY IMPRESSIVE.
This is only the beginning for AOI, besides building a pipe line they are even considering building a refinery.
When will I sell is when the Lundin's sell. In 9 years they have turn about $200 million into $22 billion, the average company they have created has 29X itself for shareholders. Keith Hill feels this will be their most successful company. He said In all the years he has been in the petroleum industry, he has never been involve with company that has such potential as AOI.
If I didn't already have a sizable amount of shares in AOI or didn't have any I would be adding to my position or initiating one. To see AOI up on a day when most of my other oil stocks in my portfolio were down was very gratifying.
I hope they have a web cast of the meeting on the their web site, it is worth listening to, especially for shareholders in AOI. http://www.africaoilcorp.com/s/Home.asp
Re: Africa Oil AOI TSX.V Time to take some Profits?
Canaccord target / coverage
Canaccord has initiated coverage on Africa Oil with a $13.50 price target... seems conservative, but leaves room for upgrades :)
We have expanded our coverage in the international oil and gas space to include Africa Oil (AOI:TSX-V), Bankers Petroleum (BNK:TSX), Coastal Energy (CEN:TSX) and Niko Resources (NKO:TSX). Of these companies, Africa Oil and Niko provide exposure to multi-billion barrel prospects in underexplored regions, while Coastal and Bankers offer a combination of high netbacks, low market valuations, and lower-risk upside potential.
Re: Africa Oil AOI TSX.V Time to take some Profits?
For those who took profits in AOI and are looking for a place to put that money, may I suggest you look into Eco ( Atlantic ) Oil & Gas Ltd. EOG TSXV. You will find a lot of information on EOG in the blog I just put on PD today.
http://www.pinnacledigest.com/blog/stargazer/eco-atlantic-oil-gas-ltd-eog-tsxv-next-aoi
Re: Africa Oil AOI TSX.V Time to take some Profits?
Hey goldbugger, I have talked up a lot of stocks on this board and have always told members to take profits, at the very least get your original nvestment out. I have been a supporter of INT when it was 10 cents and watched it hit over 3 bucks. I almost had to twist arms to get some members to take some profits. Now it sits at 40 cents. It has lots of upside but one feels a lot more comfortable if you are investing winnings rather than hard earned wages, just in case somebody invents a better mouse trap than yours..
Re: Africa Oil AOI TSX.V Time to take some Profits?
the deal is up over 1000% !!! to not take profits would be unconscionable greed ! Especially in this market where the next shoe could drop at any moment!
(I know nothing about this deal, not one thing)
Re: Africa Oil AOI TSX.V Time to take some Profits?
I will stick with my strategy which has proved over and over again that most of the time what goes up must come down and you can never go wrong at least not completely wrong by buying low and selling high. A case in point today is Ithaca Energy IAE which tanked today as a takeover is no longer on the table. Global Investor was a Pinnacle winner with IAE and AOI and until today a shoo in for a double win,hopefully took some profits on IAE. A Pinnacle Champ Hoodie is nice but cash in the pocket is better.
Re: Africa Oil AOI TSX.V Time to take some Profits?
Frank I do agree with being cautious and always on guard in the stock market. But I do know the history of the Lundins and have profited from a couple of their previous successful oil companies, and all indications are this will be the biggest ever. In this first section of land they have teamed up with the most successful drilling company in the world. An unimaginable 88% drilling success rate. Africa Oil did not put together such a huge amount of land in fact 74 million acres to raise cattle, they did because they felt they would find oil in it. They are in a very enviable position to have so much land with such potential for finding huge oil deposits.
Both Tullow and the Lundins have stated this first well in Kenya is the most successful they have ever had. In fact Tullow has said there could be 2 to 5 times more oil in Kenya then in Uganda. Even though I feel AOI is going much higher even after today's spectacular move I am not buying anymore. I now have a very good position in the company and in Horn HRN the company they control drilling in Puntland.
I do not know if it was you that brought up concerns before about the situation in Kenya, I read the FP but I missed the article you are refering to. I have no concerns about Kenya due in part to a friendship I have with a Kenyan Professor, and also other research I have done on the country.
Southpen your question on how the price of oil will effect AOI, I feel that because the outlook for AOI is so positive it will have no effect ( it hasn't so far and I can't see it doing it now). Inotherwords my buying was based on my belief in the company.
Here is a video presentation of AOI's Keith Hill speaking Stockholm, Sweden. It is 45 minutes long, which I strongly recommend you listen too.
http://www.youtube.com/watch?v=h0PO83XS6z4&list=PL83B523ADF8981B95&feature=plpp_play_all
Re: Africa Oil AOI TSX.V Time to take some Profits?
No offence, stargazer, but one should always be cautious. This is in Kenya and the risks should be factored in and I see no harm in taking some profits. This article points out that the country in which the deposit is located could limit the value. Nothing in life is certain other than death and taxes.. http://www.business.financialpost.com/2012/03/29/africa-oil-wont-move-on... I cannot get linked up will try again
Re: Africa Oil AOI TSX.V Time to take some Profits?
Stargazer,I was never involved in this stock but since your adding ,;Do you believe OIL to be a factor this summer ?,or is it just based on your approval of the equity.?
Re: Africa Oil AOI TSX.V Time to take some Profits?
I am sad to read some PD members have been selling their shares in AOI which in my opinion was far to early and they would know that, had they been keeping up their DD on AOI. I have not being selling any shares in fact I have been adding to my position, because I feel the stock has a long ways to go. Already they have been approached by some majors either to do farm inagreements or to buy the company.
AOI has just starting to reward it's shareholders they have a huge land position of 74 million acres. Right now the senior Lundin has stated he might consider offers of $25 to $50 a share. But they really have no interest in selling the company this early in the game. In fact they are thinking of bringing the company into production themselves. Which they have done so with other companies
Re: Africa Oil AOI TSX.V Time to take some Profits?
Before selling any shares of African Oil AOI one should first read the blog I just posted.
http://www.pinnacledigest.com/node/851709
Re: Africa Oil AOI TSX.V Time to take some Profits?
I have no comment to make on AOI, but I do STRONGLY suggest fellow investors to check out Horn Petroleum. With great results, it hasn't even reached the precrash level. I bought before the crash and have since been consistenly adding on and continuing to do so.
Here's some info courtesy of StarGazer:
http://www.pinnacledigest.com/blog/stargazer/africa-oil-aoi-flying-high-today-hitting-new-high-973-due-discovering-more-oil
http://www.worldstocks.co.uk/forum/viewtopic.php?f=3&t=818
Re: Africa Oil AOI TSX.V Time to take some Profits?
Frank, Good points ,taking profit. It amazes me that some of us continue to make the same mistakes (including myself), but I could add this ; Buying a stock long term is a good idea if youv'e done your DD but,if there is no tax advantage to holding , then buying on dips and selling on big increases certainly makes sense ,however so many use technical trading for this and I,ve noticed ,in this particular market,that the technical guys have been quieter than usual.I know one guy that has had a steady stream of small losses and he actually is, very capable. Anyway ,watching movements of insiders and keeping in contact with a company or insiders and relying on sentiment of the fundamentals is a good ,safe way to swing trade ,if that's what you want to do.