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Africa Energy Corp V.AFE

Alternate Symbol(s):  HPMCF

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

Comment by papaloapanon Jul 03, 2024 10:48am
171 Views
Post# 36116277

RE:Could prove huge for afe

RE:Could prove huge for afeIt could well be  case of lemons to lemonade.  The gas is there, and was deemed commercial after only drilling only 2 of 5 planned wells, and they submitted a development plans - presumably with confidence that the market was large enough.  This is deep, and difficult, but I suspect this is a case of Total having better things to do with their time and money.than waste their time further.  I do not believe this relates to either demand or supply, but rather the inability of the government to transistion from coal to oil

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