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 creaturecomphorton Mar 08, 2013 10:58am

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Post# 21099794

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

All you have to do is look at the report. It has tables showing how much cash they have each quarter for the past year. The rate of decline of cash works out to about $1m/month. That is the burn rate. This isn't rocket science. Like I said, they were drilling then and they no longer are. They are doing seismic profiling. That takes equipment and people. I would be surprised if the burn rate has dropped from last year.

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