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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

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Post by smarter_of_moron_idiot_imbecileon Aug 09, 2012 2:19pm
446 Views
Post# 20199571

all in all its been a strange trip

all in all its been a strange trip

among the most notable unusual events:

 

[i] strangely worded NR when they reached TD on S-1 causing the stock price to be cut in half

 

[ii] immediately doing a PP at the low point of the stock price (at the time anyway)

 

[iii] almost immediately after that KH stating he was 75% certain of a commercial find - I'm pretty certain this estimate was based on expectations from S-1 and S-n exclusively, anyway causing the stock price to double back to where it was before [i] above

 

[iv] the NR stating they reached TD but stopping to WLT to see if it was oil or water (from now on I'll sell when I see the mention they are testing to see if its water)

[iv] the NR stating there was no oil in S-n

 

[v] the decision to increase the TD of S-n

 

[vi] the rapidly falling SP with no accompaning comments from the company

 

it just doesn't seem like the timing of the NR's, the PP, and statement of 75% certainty add up.

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