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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
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Post by parachutiston Aug 28, 2012 12:38pm
364 Views
Post# 20269574

SOMALIA and the drilling results

SOMALIA and the drilling results

I   m  not  surprised   by  the  drilling  results  in  Somalia   as  this  happens  with   several  exploratory   energy  companies.   

VST.V   experienced the same failure   in  Kurdistan,   ROZ.V    in  Australia,   Sterling  Resources,  Torquay     etc.  The   pps   plummeted   after  those  failures.

This  is  why  I  prefer  the  established  oil  producers  with   stable  funds  from  operations.

I  m  long    CZE.TO  (C&C   Energia)   currently.

CZE.TO    is  a  100%  oil  producer    with  zero  debt   and   2012  pe=5   or   less. 

It  has  strong  and  consistent   production  growth   YOY  and  reserves   growth   YOY.

gl   to  the  holders   of    HRN.V

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