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Bullboard - Stock Discussion Forum 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... see more

TSXV:AFE - Post Discussion

Africa Energy Corp > Drilling on Block 2B South Africa set to begin in October
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Post by lucaM1 on Mar 06, 2022 9:19am

Drilling on Block 2B South Africa set to begin in October

Africa Energy Corp. says that a rig has been contracted for the Gazania-1 exploration well on Block 2B offshore South Africa.
The semisubmersible Island Innovator will drill the well by October.
Garrett Soden, Africa Energy’s President and CEO, described Gazania-1 as high-impact well that would target two large prospects 7 km from the undeveloped A-J1 discovery, in the same (Orange) basin as the recent deepwater Venus and Graff finds drilled by TotalEnergies and Shell off Namibia.
 
Block 2B covers 3,062 sq km (1,812 sq mi) off the west coast of South Africa, 300 km (186 mi) north of Cape Town in water depths ranging from 50-200 m (164-656 ft).
Soekor proved oil in the A-J1 borehole drilled in 1988, the well flowing 191 b/d of 36° API crude from a 10-m (33-ft) sandstone interval at a depth of around 3,250 m (10,663 ft).
 
A subsidiary of Azinam, soon to be acquired by Eco (Atlantic) Oil & Gas pending approvals, operates the block.
 
https://www.offshore-mag.com/rigs-vessels/article/14234924/island-innovator-booked-for-gazania-well-offshore-south-africa
Comment by stockDAD1 on Mar 08, 2022 8:37am
More room for profits.. Especially now that oil prices have skyrocketed