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.

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Africa Energy Corp

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Comment by Grizzle1on Mar 08, 2013 4:13am

164 Views

Post# 21098045

RE: RE: RE: RE: RE: RE: RE: RE: RE: KH support

Skier

A lot of the RMP guys on iii/LSE had always thought the whole thing stank. There were some very plausible arguments put forward regarding the statements put out by HRN/RMP/RRL at that time and the apparent lack of "joined up communications"

No doubt its plausible, and you could wll understand the reasons for doing it, given the disintegration of the security position since the 2 drills: But thats the point - are they trying to decieve the politicians or their shareholders.

I think the concept behind HORN was sound in a world without poverty, tribalism and radical islam. But the fact remains its too geographically focussed and more importantly, its UNDERCAPITALISED!!

I would prefer Lucas to break it apart, give funds back to investors, or conversion to AOI stock at a reasonable level given 2 drill failures, and re constitute it into something worthy of the AOI/Lundin name.

At the moment, Horn is an embarrasment to its shareholders and to Lundin.

Griz

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