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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
Post by Porphoriticon Apr 02, 2012 10:27am
757 Views
Post# 19747310

Must be logging and will drill out this week

Must be logging and will drill out this week

The timing would suggest they are doing the intermediate logging run. Once finished, it's time to drill into the main target.

I thought it would be useful to to bring up why they are drilling way past the main target. The UARANDAB shale, which underlies the main target may be an unconventional resource itself! Oil shale! Has not been mentioned as a potential target yet by management that I have seen, but this is no different than other plays in Newzealand right now(TAO, NZ) and US plays such as the Niobrara and Wolfcamp shales. This could be as significant or better than the main reservoir that Horn is targeting. They will need a rock core of the shale to confirm or dismiss the potential. It is 700 m thick and could hold billions of barrels more oil. It's worth asking them about it if anyone is calling in. Here's that report again. See page 10 -UARANDAB Organic rich shale and carbonate.

https://rmp.test.irmau.com/IRM/Company/ShowPage.aspx?CPID=1160&EID=75357026

GLTA!

Bullboard Posts