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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Comment by Illuminati1on May 30, 2013 1:16pm

172 Views

Post# 21461716

RE: RE: Puntland is dead

How long will $6 million cash last?

Buying new assets, seismics, exploration drill...

Horn has no major production, no big revenue per month coming in and nothing much but a speculative license - which is currently not being recognised by the central somali government and its trading way way above their cash in the bank level and no imminent drilling of anything.

Companies like that can and often do trade below their cash in the bank level.

Horn is not below presently, perhaps sometime soon.

Which says the share price will always be dripping downwards apart from when it gets ramped or there is a bit of news - but the trend is going to be down apart from those spikes.

GL

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