Africa Energy Corp V.AFE

Alternate Symbol(s): HPMCF

Energy Oil & Gas E&P

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.

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Africa Energy Corp > africa energy

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Comment by papaloapanon Oct 21, 2021 7:34am

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Post# 34031357

RE:africa energy

Agree on the buy/hold, though I'm unclear on the value and process of 11b/12b.

Believe there is a difference of opinion on stated reserve estimate between Total/AFE - question of how large, and easily resolved by 3rd party. In any case, it depends on what the buyer agrees with.

Premised on agreement, will they be selling interest in total tract or just these wells. Logically it will be the total tract, but then how do the three derisked exploration wells affect value. They have significant value, though well below discovery wells.

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle