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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

Bullboard Posts
Comment by Porphoriticon Mar 29, 2012 6:30pm
285 Views
Post# 19736073

RE: AOI/HRN need an update on Puntland

RE: AOI/HRN need an update on Puntland

Based on the previous drilling rate, they should be at 2664 m.  This is about where they would stop drilling, and pull all of the pipe out of the hole.  Then, they will run in with the casing and do the logging.  Unless they sped up using  voodoo, it would be tough to have all of this work done, and be starting to drill out into the main target.  Setting casing and logging will take 3 to 5 days at that depth.

Last news was on Mar 19.  Depth - 2384 m, rate of drilling - 28 m/day.  They want to run casing over the interval of 2400 to 2700 m, so they had to drill that section first.  Then, they set the casing in position and log the hole.

I believe the run up is based on mis-interpretation of the operations. 

There is no way they can start producing this well within a month either.  They can test it, which in a way is production, but the statement by the Country's leader is mis-leading.  I believe he is refering to testing the well within a month. 

My opinion, pump-away!

Bullboard Posts