Africa Energy Corp V.AFE

Monetizing

[RHertig]

What is the possibility of selling the discovery but keeping the rest of the exploration? I hate to get paid fir the two discoveries and then watch them find several more. Anyone seen this done before?

[GoJerez2]

That will never happen.....Total is in charge. David and goliath scenario. They can make it extremely painful for AFE. Discovery is great but need to become commercial to monetize. I bought in before the drilling and thought we would have a great run upon another discovery but I was wrong...

[tadjames1]

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[HMushman]

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[tadjames1]

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[HMushman]

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[GoJerez2]

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[tadjames1]

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[tadjames1]

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[tadjames1]

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[HotDog01]

The asset held by AFE is not the discoveries themselves but an interest in the Exploration Right in which the discoveries have been made.  So there is no basis for selling the discoveries while keeping the rest of the exploration acreage. However, if the discoveries are declared commercial they will presumably be carved out of the Exploration Right and placed in a separate Production Right. &

[RHertig]

Thanks Hot dog makes sense.

[Harel1976]

Total halted the exploration campaign in order to focus on developing the two big discoveries, so they will probably have a fdp later this year.

[tadjames1]

What FDP ? Full disclosure plan ?

[bazilfawlty]

FDP=Field Development Plan    Baz