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Africa Energy Corp V.AFE

Alternate Symbol(s):  HPMCF

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

Comment by Capetonianon Oct 28, 2020 4:54am
161 Views
Post# 31794054

RE:why u guys celebrating

RE:why u guys celebratingToday's news isn't bad. I think what we're seeing is some pure exploration play investors exiting. It's interesting that no volumes were reported. 73m of net pay is impressive and I'd say the volume is sifficient to contemplate EWT and commercialization discussions. It could be that the volume is profoundly eyewatering, but Total are keeping that fact quiet whilst they assess how much and how profitably they can get it to market. Smart move by Total, probably doesn't suit AEC but Total are a long game player whereas AEC are not. It's all quite fascinating. Maintain station troops!
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