Africa Oil Corp.

OTCPK:AOIF.F Stock Report

Market Cap: US$594.3m

Africa Oil Valuation

Is AOIF.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AOIF.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AOIF.F ($1.35) is trading below our estimate of fair value ($2.54)

Significantly Below Fair Value: AOIF.F is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AOIF.F?

Key metric: As AOIF.F is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for AOIF.F. This is calculated by dividing AOIF.F's market cap by their current book value.
What is AOIF.F's PB Ratio?
PB Ratio1.1x
BookUS$548.70m
Market CapUS$594.28m

Price to Book Ratio vs Peers

How does AOIF.F's PB Ratio compare to its peers?

The above table shows the PB ratio for AOIF.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.5x
SD SandRidge Energy
1xn/aUS$425.5m
GPRK GeoPark
2.2x12.0%US$420.3m
GRNT Granite Ridge Resources
1.3x32.0%US$836.8m
VTS Vitesse Energy
1.5x2.4%US$798.6m
AOIF.F Africa Oil
1.1x66.9%US$837.3m

Price-To-Book vs Peers: AOIF.F is good value based on its Price-To-Book Ratio (1.1x) compared to the peer average (1.5x).

Price to Book Ratio vs Industry

How does AOIF.F's PB Ratio compare vs other companies in the US Oil and Gas Industry?

9 CompaniesPrice / BookEstimated GrowthMarket Cap
TOPS Top Ships
0.2x162.9%US$35.02m
AXAS Abraxas Petroleum
0.06xn/aUS$10.27m
VTNR.Q Vertex Energy
0.04xn/aUS$4.96m
FECO.F FEC Resources
0.2xn/aUS$1.46m
AOIF.F 1.1xIndustry Avg. 1.5xNo. of Companies26PB012345+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: AOIF.F is good value based on its Price-To-Book Ratio (1.1x) compared to the US Oil and Gas industry average (1.5x).

Price to Book Ratio vs Fair Ratio

What is AOIF.F's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AOIF.F PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate AOIF.F's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AOIF.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.35
US$2.19
+62.1%
8.5%US$2.44US$1.97n/a4
Nov ’25US$1.26
US$2.19
+74.1%
8.6%US$2.44US$1.97n/a4
Oct ’25US$1.32
US$2.41
+82.4%
8.7%US$2.58US$2.06n/a4
Sep ’25US$1.52
US$2.41
+58.8%
8.8%US$2.60US$2.06n/a4
Aug ’25US$1.65
US$2.40
+45.6%
8.5%US$2.56US$2.06n/a4
Jul ’25US$1.85
US$2.40
+29.9%
8.5%US$2.56US$2.06n/a4
Jun ’25US$1.90
US$2.36
+24.1%
9.3%US$2.57US$2.06n/a3
May ’25US$1.77
US$2.35
+32.9%
9.1%US$2.56US$2.06n/a3
Apr ’25US$1.75
US$2.36
+35.0%
9.4%US$2.58US$2.06n/a3
Mar ’25US$1.60
US$2.36
+47.2%
9.5%US$2.59US$2.06n/a3
Feb ’25US$1.87
US$2.36
+26.3%
9.5%US$2.59US$2.06n/a3
Jan ’25US$1.87
US$2.54
+35.6%
13.4%US$2.82US$2.06n/a3
Dec ’24US$1.87
US$2.40
+28.4%
14.3%US$2.75US$2.06n/a2
Nov ’24US$1.86
US$2.40
+29.2%
14.4%US$2.75US$2.06US$1.262
Oct ’24US$2.02
US$2.42
+20.0%
14.9%US$2.78US$2.06US$1.322
Sep ’24US$2.39
US$2.42
+1.1%
14.8%US$2.78US$2.06US$1.522
Aug ’24US$2.35
US$2.45
+4.4%
16.1%US$2.85US$2.06US$1.652
Jul ’24US$2.12
US$2.36
+11.2%
12.8%US$2.66US$2.06US$1.852
Jun ’24US$2.15
US$2.32
+8.0%
11.2%US$2.58US$2.06US$1.902
May ’24US$1.95
US$2.32
+19.0%
11.3%US$2.58US$2.06US$1.772
Apr ’24US$2.25
US$2.30
+2.3%
10.7%US$2.55US$2.06US$1.752
Mar ’24US$2.07
US$2.22
+7.4%
7.4%US$2.39US$2.06US$1.602
Feb ’24US$2.05
US$2.24
+9.5%
8.3%US$2.43US$2.06US$1.872
Jan ’24US$1.84
US$2.32
+26.4%
11.3%US$2.58US$2.06US$1.872
Dec ’23US$2.12
US$2.35
+10.7%
12.3%US$2.64US$2.06US$1.872
Nov ’23US$2.46
US$2.31
-6.0%
11.0%US$2.57US$2.06US$1.862

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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