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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 Yemenon Jun 18, 2012 4:42pm
757 Views
Post# 20027476

Sorry boys, I'm out

Sorry boys, I'm out

Took my profit but I think you will make money even from present levels..  What kind of turned me off is we have not had any DST's and that is not good.  Kind of nice to know what we have or had in my case.

 

Meanwhile another opportunity arose.  Some may want to have a look at this one as its a US play buried on the TSX.  Not a pump, but give it a look.  Go to website, view and listen to  presentations and make up your mind.  (EOR. on the TSX)  I have to confess that I am a fan of these secondary and tertiary recovery outfits in the Texas OK, area that are on the TSX.  This one is just across the TX border in N.M.  Cost per bbl is what is the selling point and with oil prices so low, its nice to have an outfit that can produce oil for cheap.  They will make money for a long long time.  That and the market cap is only 20 million and they have 25 mill in the bank.  Play is for free.

Bullboard Posts