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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

Post by Oregonduckon Oct 28, 2020 3:24pm
164 Views
Post# 31797233

Same Sad Movie

Same Sad Movie Just like in Puntland...Horn Petroleum drilled 2 wells and subsequently abandoned drilling the third well.

This SA LNG prospective Is a non-starter - 175 km offshore in extreme rough seas. That country’s gas is being supplied from Mozambique.

For instance, AOI had written off its Kenyan oil find and taken a huge impairment charge on its balance sheet. There is no  chance of building a pipeline there to bring the oil to mkt.

AFE appears another “pipe dream”. I expect the stock will drop to $0.25 or less as there is no longer any speculative appeal to the stock.

Sad movies make me cry,


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