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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 EnergyHunter1on Jun 01, 2012 8:26am
591 Views
Post# 19969452

RE: RE: RE: Horn AGM

RE: RE: RE: Horn AGM

Thanks for posting. That's very interesting indeed. According to HRNs April presentation, both Shabeel-1 and Shabeel-N, based on internal estimates, are each estimated to be in the 200-300 mmbo class. So if we take the best case scenario of 300 million barrels for Shabeel-1 alone, we're in the range of 100 million barrels found right now. I guess he can't come out right out and say "we're in business definitely", right now, but his 75% perdiction of being commercial and those numbers have me feeling pretty optimistic. I loaded up at 0.84 the other week, and by the sounds of this, I'm sure glad I did. Appreciate your thoughts. EH1.

Bullboard Posts