Africa Energy Corp V.AFE

Upstream

[Ferryboy]

Getting closer


https://www.upstreamonline.com/field-development/totalenergies-to-spend-up-to-3-billion-on-south-africa-gas-project/2-1-1262263

[toptiger]

if they have already said going to spend, must have agreed to terms ?

[Ferryboy]

If the politicians are starting to talk then they must be close ... I hope :)

[angeloet]

fingers crossed indeed

[toptiger]

if it can break 33 to move to 35 i think we are definately in play

[angeloet]

I hope you're right tt. I really like the look of this company

[papaloapan]

I think AFE has 12%, so that implies AFE's share of the development costs will be about $560mm. We are getting closer, but to monetization for AFE - a sale of their stake. That will likely be relatively short term, after the offtake agreement and development license, but for a significanty larger value than development cost.  Gazania will come in before that, so will be interesting to

[toptiger]

lets find oil in gazania first, i have like a few here all 3 parties so will be quite errr useful i think the AFE gas stake is 10%

[cjohansen76]

They have 28% of Gazania, which is probably oil, and the drilling cost is paid by their partners.  They have 10% of the Leopard gas condensate development, which the government says will cost $3 billion.  That means $300m for AFE to stay in, but they said they can borrow 70% of that from development banks at FID.  So they would only need $90m of equity to stay in, and they do not

[toptiger]

and can prob get rest from aoi and impact, but i have no doubts that afe will not want to take their stake to production, they are just not that sort of company. if 28% gazania and its lets say a hit at 300mb, then we should give it at least $5 / barrel (could argue more due to closeness to shore, shallow waters), price of oil is much higher. so that would in ntheory be worth $400 to afe, and if

[toptiger]

looks like AFE are going for it......35 to buy !