Africa Energy Corp V.AFE

Luiperd to be discussed at Africa Oil Town Hall

[SBaker]

Registration to the Africa Oil town hall is on their website.

The Townhall is 6pm stockholm time today

Link on the home page of www.africaoilcorp.com

[tadjames1]

starts in 8 minutes in western Canada

[tadjames1]

My bad... Starts in 2 hrs

[SBaker]

I've emailed the following questions to the Townhall.............I'll post if I pick up answers.     What is the expected timeline to reach a decision on commerciality and field development?   Is the intention to sell just the Luiperd and Brulpadda fields and retain the remainder of the block or is the intention to sell the full 11b/12b block.   What is

[tadjames1]

They will sell their stake in the entire 11/12b block and they will say 6-12 months. This has been directed relayed to me from management.

[SBaker]

Luiperd got a brief mention at the AOI Townhall but not a huge amount of airtime and very little in the way of meaningful questions answered. The key takeaways I noted were: Luiperd is 50% bigger* than pre-drill expectations. He was shocked to see the price fall after RNS landed he suggested absence of oil might be the reason why some got spooked.....but then mentioned how valuable gas

[tdon1229]

I also heard him (KH) describe the Luiperd find as being 50% larger than expected.

[tadjames1]

Yes 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

[Ferryboy]

Keith Hill did say they (meaning Total) was off to drill and even deeper well off Africa (I forget exactly where) than Luiperd so it would likely be the same deep water rig.  My question ..is the drilling contract with Total who would have the right to move the rig? ,, or was it restricted to drilling within the same SA location as Luiperd?  Total is a pretty big operator and may have