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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 Houndtraderon Aug 07, 2012 11:17am
386 Views
Post# 20189966

RE: RE: prolonged oils shows have become significa

RE: RE: prolonged oils shows have become significa

I agree skier, but what  kind of games, we have been filled with so much detail a few months back, that they found a  working petroleum system,and last it was water.These guys have been in the business long enough to know if they hit oil or water, doesn't make too much sense to me. Also why tell us they had special equipment to bring in over the boarder that consisted of explosives to test shabeel 1,and now they leave us with a question mark, if they will even test the shabeel 1. Are they playing games with somalia,red Range or us?

Depressing share price,I also ask myself, how the estimation and reserve reports could be so far out in their estimates.

Wasn't range asked the last time, if they wanted to participate in the last drilling,and they said yes,what did they see in Shabeel 1 that got there attention? 

Not sure about the 20% for range and red,but you would think,they would need to pay their part to keep continuing.

Bullboard Posts