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 10% participating interest in the Exploration Right 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 18,734 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 > what i dont understand

<< Previous

Bullboard Posts

Next >>

Comment by papaloapanon Mar 16, 2024 8:42am

84 Views

Post# 35936379

RE:what i dont understand

Unfortunately we don't know why 11b/12b is moving so slowly (if at all). I don't believe ant-fossil plays a signicant role, though. The country depends on coal, and gas is clearly better.

My guess it that it is more related to infra-structure issues surrounding the expected buyer/consumer, and possibly financial considerations, around both product purchase and infra-structure build out.

Occassional updates would be nice, but I guess there is concern that could be conceived as inappropriate pressure by the counter parties.

<< Previous

Bullboard Posts

Next >>

Critical raw materials pioneer drives Europe’s clean energy transition