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 whe4toon Jul 25, 2012 3:07am

600 Views

Post# 20149259

OIL Best estimates been ommitted!?!

A snippet from RRL (JV's) RNS this morning;

From previous RNSs:

* In Puntland, Range holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys. The operator
and 60% interest holder, Horn Petroleum Corp. (TSXV: HRN) has completed the
first exploration well (Shabeel-1) to a final depth of 3,470m having
encountered a 12-20m zone of significant hydrocarbon pay in the Upper
Cretaceous Jesomma Formation. The second well spud in early June 2012 and
targeting best estimate Prospective Resources (100% basis) across the two
wells of 170-300 mmbbls.

From this mornings RNS:

* In Puntland, Range holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys. The operator
and 60% interest holder, Horn Petroleum Corp. (TSXV: HRN) has completed the
first exploration well (Shabeel-1) to a final depth of 3,470m having
encountered a 12-20m zone of significant hydrocarbon pay in the Upper
Cretaceous Jesomma Formation. The second well spud in early June 2012 with
final results early August.

No 170-300mmbbls-this get's more confusing. Obviously they do not believe the two drills are linked, hence less oil than originally thought. This is turning into a communication MESS!