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 Schreibzeyon Oct 29, 2020 7:56am

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Post# 31801842

RE:RE:RE:RE:Pareto Securities Report

Looks to me that 4 SEK is the analyst's risk balanced estimate, which doesn't include PEL 37 in Namibia. Pareto has an unrisked estimate of 14.5 SEK/share for the entire company. It's interesting they use a Brent estimate of $60/bbl, which is high. However, it's also subject to the risking factor of 70%, so take it for what it's worth.

According to the AFE corporate slide deck, there is ~1BBoe at Brulpadda, and Pareto's estimate gives recorvery at 45mmboe, so it may a conservative recovery estimate. Same with Luiperd, it's hard to say because the BBOE hasn't been published, so is 68 mmboe a good estimate?

I'm also learning, so interested to see where I'm wrong.

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