Africa Energy Corp V.AFE

Alternate Symbol(s): HPMCF

Energy Oil & Gas E&P

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

Africa Energy Corp

Bullboard Posts

Post by longrider1964on Jul 10, 2012 5:47pm

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Post# 20099782

warrants

So assuming good news out of Shabeel North and follow up flow tests from both and share price going to say $5 then both sets of warrants get exercised. The first are about 43 million at $1.50 and then second set is 9.4 million at $1.20 so should bring in about $73 million total which is plenty to finance a much larger drill program going forward. Welcome to Africa Oil 2.0!

Bullboard Posts

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