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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 EnergyHunter1on May 17, 2012 4:06pm
418 Views
Post# 19922552

This Is Painful!

This Is Painful!

 This is painful to say the least. I just can't get my head around the events of this one. The "rumour" mill has been flying about news of this one for weeks. I mean seriously, from presentations, potential net pay zones,partner updates, Puntland President and Govt. officials, what is going on here?.  Add to that they've stopped drilling prior to TD at 3800m IOT move the rig to commence drilling their Shabeel-North well 3.5 kms away. I don't know. There seems like there's more to this story to come that we potentially aren't aware off. Skier mentioned a good point about political motives and the constitution, I hope it's something as simple as that. I've taken an absolute beating with OYL these past 2 weeks and I definitely don't feel like the most savvy of investors here today either. Thanks for your thoughts in advance. EH1.

Bullboard Posts