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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 a 10% participating interest in the Exploration Rights 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 19,000 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 tadjames1on Oct 31, 2020 12:33am
163 Views
Post# 31817965

RE:RE:RE:Luiperd to be discussed at Africa Oil Town Hall

RE:RE:RE:Luiperd to be discussed at Africa Oil Town HallYes SBaker, that's what he said.... 50% bigger. And yes, you are correct that AFE will have to pay thier share of rig cancellation fees. One can not sign a 1 yr contract and cancel within a few months. Not so bad for Total, CNRL or Qatar but for a little company like AFE, it hurts. Our raised money recently was supposed to go towards proving up the field and now it's going toward a cancelled contract with no drilling. Garret Soden hopefully learned something at Columbia Business School when he received his MBA..... Let's see if he passed with honors or scraped by. It's truly bitter sweet but IMO, mostly bitter right now. 
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