Africa energy - afe.vPay attention to that one!! Holds 10% of a huge block in south africa with total and qatar, made two huge gas condest discoveries and was traded 4 times then now, then total wanted a fast track development to tie in to two big plants in SA that are not in use due to lack of gas but a mining law that includes gas and oil didnt allow the development, SA tried to pass a new bill but the greens objected and the sp dropped to quarter, 2 days age finally the bill passed and should be signed by the president in the coming days and pave the way to advance the project that already complrted the fdp and is ready for fid. Afe's stock should close the gap soon rnough and double or triple as the bill finalized and the project advances. https://www.upstreamonline.com/politics/critical-south-africa-upstream-law-set-for-presidential-assent/2-1-1635827
Excerpt from paywalled site:
National Council of Provinces approves Upstream Petroleum Resources Development Bill, with all eyes now on President Cyril Ramaphosa
Updated 1 May 2024, 00:56
Upstream players in South Africa are waiting on tenterhooks for President Cyril Ramaphosa to give his assent to vital and long-awaited legislation designed to underpin the country’s emergent exploration and production sector.
Oil and gas players in South Africa — with notable exceptions — have been treading water for years, hamstrung by Pretoria’s inability to create a welcoming environment for investors, partly because successive African National Congress governments failed to fully differentiate between the needs of the country’s critical mining sector and those of the burgeoning E&P industry.
The upstream petroleum resources development bill (UPRDB) which was three years in the making was approved by the National Council of Provences on April 25, only the Western cape voted against it, has been sent to the president to sign...