Africa Energy Corp V.AFE

Africa Energy Sees Exploration Well Fail To Hit Commercial H

[AwareInvestor]

Africa Energy Corp is out several million after an offshore oil and gas exploration well turned up effectively dry. The firm indicated this morning that the Gazania-1 exploration well failed to hit commercial hydrocarbons.

https://thedeepdive.ca/africa-energy-sees-exploration-well-fail-to-hit-commercial-hydrocarbons/

[Patriot]

The whole management team should be fired in my opinion.

[cjohansen76]

Weren't you banned for bashing?

[silverlinens]

Funny how majors find oil using the same tech everyone else does but a "technical team with significant exploration success" as quoted from the AFE presentation study data on shareholders expense for 10 years and conclude a 60% chance of success only to find nothing but swamp gas. It's pathetic.

[alphadog67]

Funny how much time you spend trolling this company under different names. Since when does 60% chance of success guarantee a commercial discovery?

[silverlinens]

What?! This is my first post on this forum. FWIW, 60% is no guarantee. It does however lean in favor of some sort of discovery amounting to more than a few puffs of swamp gas. That and I said it's funny majors using the same tech can communicate 5-10% CoS and make a discovery. We have the unparallelled team of oilfinders?! What I want to know is where's this 60% coming from? More