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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 StupidInvestoron Dec 31, 2012 12:27pm
373 Views
Post# 20784480

RE: RE: country will honour contracts prior to 199

RE: RE: country will honour contracts prior to 199

Also, there's Somalia, Somaliland, and Puntland on the map these days. There's not a "Somalia" like before the civil war. Puntland has begun oil exploration and Somaliland and Somalia would like to be no worse than that, and try to get interest going. Nothing quicker than inviting previous companies to enter the countries again. Puntland had the right to divest of mineral holdings as part of their breakaway, which they did to Range Resources, and they did contact ConocoPhillips, from what I understand, so I doubt there's really any possibility for Conoco to come to Puntland arguing "this Horn-company plowed millions of dollars into this land in Puntland, that we held before the civil war, and we were offered to pick up again after Puntland became a semi-autonomous state and received the right to divest of mineral rights, and we did not pick it up back then but we'd like it back now that exploration is done and oil is found" or whatever. I suppose also it's easier said than done finding a favorable court over there when in ConocoPhillips shoes.

Bullboard Posts