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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 EnergyHunter1on Mar 07, 2013 7:10am
170 Views
Post# 21092374

RE: RE: KH support

RE: RE: KH support

I agree, it's extremely difficult to maintain one's optimism when nothing is or has been happening for sometime. Less than a year ago, this was one of the hottest plays on the venture, and no one or their dog thought there was even a remote possibility that the Shabeel-1 or North wells wouldn't discover oil in Puntland. I remember being told once that if something seems too good to be true, it probaly is, and man did those words ever come back to bite me last summer with this play and the whole "75-80%" chance of commercial success. I even spent some bucks averaging down last year after the whole thing with S1 & SN, and like you've pretty much said, now nothing. I was expecting an urgency from management to rebound and possibly get going on the Nugaal asap, but I guess we're at the mercy of being on their time for the forseeable future. Hopefully things rebound.

At the very least anyway, I credit the whole Horn thing in 2012 to teaching me big lessons about being a retail investor and leading me to make changes in the whole way I go about investing my money, you know, with the whole bull and bears and pigs saying in mind. Lol, like I said, at the very least anyway. EH1.

Bullboard Posts