Africa Energy Corp V.AFE

Could prove huge for afe

[Harel1976]

Afe will soon have 100% of a world class block with estimated 1.5 billion boe..
Africa oil sounds excited to have net 49% WI, so its a new game.
Political difficulties exosted total but the opportunitywill be to find a partner for an offshore liquifying fpso.
Maby aoi will even want more WI..

[Harel1976]

The upside will have to drive the price up!! A potential f.o will value atleast 1$ a barrel for afe, wether it will or not f.o doesnt metter, the upside must shrink.

[papaloapan]

It 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

[Harel1976]

This post has been removed in accordance with Community Policy