Why afe is down? The luiperd discovery is huge but was already over priced when afe was at the 50's. How come total halted the exploration campaign? The big hope in luiperd was to discover oil, if they would then afe was at the 70's and the campaign would continue, but they found gas! The amount of gas in both discoveries is enough for SA for 50 years, they will tie in via 200 km pipeline and start producing as fast as they can- ~4 years time. More gas reserves will be worth 0, nothing to do with the gas, lng project will be un economical in the coming years or more. As long as no oil play will be proved in this basin, thats it. Afe's MC is 290m$cad, with 600m shares dilution its 450m$cad! Afe is now over priced when I compere it to other oilers with producing gas fields.