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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Post by Oregonduckon Oct 27, 2020 11:51am

192 Views

Post# 31788457

Super-size Me

Impact has agreed to subscribe for 509 million new shares. The outstanding total will be around 1.4 billion shares and Impact will become the new Control Person. Massive dilution.

AFE will become the next Lundin’s ShaMaran Pet (SNM) with 2 billion shares out, selling for $0.05.

The stock will likely spiral down over 50 percent in a single day in the event of non-commercial discovery.

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