Africa Energy Corp V.AFE

Alternate Symbol(s): HPMCF

Energy Oil & Gas E&P

Africa Energy Corp. is a Canada-based oil and gas exploration company focused on South Africa. The Company owns approximately 49% of the common shares and 100% of the Class B shares in Main Street 1549 Proprietary Limited (Main Street 1549), which holds 10% participating interest in the Exploration Right for Block 11B/12B offshore the Republic of South Africa (Block 11B/12B). Block 11B/12B is located in the Outeniqua Basin approximately 175 kilometers (km) off the southern coast of South Africa. The block covers an area of 18,734 square kilometers (Km2) with water depths ranging from 200 meters in the north to 1,800 meters in the south.

TSXV:AFE - Post by User

Africa Energy Corp

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Comment by ZniperBullon Jul 18, 2012 11:17am

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Post# 20125906

RE: oil shows

AFRICA OIL SHABEEL NORTH UPDATE (OMX)
2012-07-18 17:13

July 18, 2012 (AOI¿TSXV, AOI¿NASDAQ OMX) ¿ Africa Oil Corp. (¿Africa Oil¿ orthe ¿Company¿) reports that the Horn Petroleum Corporation operated ShabeelNorth well is currently at a depth of 1967 meters and has penetrated a 50 metergross section of upper Jesomma sands with oil shows. An open hole drill stemtest is currently underway to determine if this zone is oil or water bearing. Regardless of the result of this test, the well will continue to drill to thebase of the Jesomma sands to evaluate any additional lower Jesomma potentialpay zones. Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya,Ethiopia and Mali as well as Puntland (Somalia) through its 45% equity interestin Horn Petroleum Corporation. Africa Oil's East African holdings are in withina world-class exploration play fairway with a total gross land package in thisprolific region in excess of 300,000 square kilometers. The East African RiftBasin system is one of the last of the great rift basins to be explored. Newdiscoveries have been announced on all sides of Africa Oil's virtuallyunexplored land position including the major Albert Graben oil discovery inneighbouring Uganda. Similar to the Albert Graben play model, Africa Oil'sconcessions have older wells, a legacy database, and host numerous oil seepsindicating a proven petroleum system. Good quality existing seismic show robustleads and prospects throughout Africa Oil's project areas. The Company islisted on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholmunder the symbol "AOI".