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,