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 StupidInvestoron Mar 25, 2015 7:13am

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Post# 23558087

RE:RE:RE:RE:RE:RE:RE:The Offering is expected to close on or before March 20

They suck. :-/ Obviously, they hoped a book-building process setting the price in the first financing would result in the shareprice going up, like it did on the market. Now they come back and say that financing is out of the picture, but, hey, you guys at 17 cents on the market, we're going to print 40 million shares at 13 cents. What bothers me with all of this is I've not ever really seen a Lundin-financing not happen like this. Usually, Lukas goes in and takes a large enough piece of the pie to get things moving.

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