Africa Energy Corporation (PK) (HPMCF) Share Price

Friday’s Clarskons note on Block 11B/12B TotalEnergies reveals massive scale of its South African harsh environment gas discoveries

The scale of TotalEnergies’ gas discoveries from 2018 and 2020 in South Africa, the Brulpadda and Luiperd, has for the first time been publicly revealed in documentation the operator recently filed to South African authorities.

In total, TotalEnergies plans to spend $3bn to exploit the findings. Combined, the two discoveries (which came through only two wells) is said to comprise resources of 4.5 Tcf of gas, of which 3 Tcf of this volume is contained in Luiperd. First gas is targeted in 2027 given that all government approvals are received. To our knowledge, both discoveries were drilled by Odfjell Drilling’s (ODL, Buy) harsh environment semi the Deepsea Stavanger.

https://fitinvestmentideas.com/2023/02/20/clarksons-on-africa-energy-totalenergies-reveals-massive-scale-of-its-south-african-gas-discoveries-block-11b-12b/

Hopefully some development soon on 11B/12B

Africa Energy

[[ Thanks to Stockhouse ]]

Subject: Starting to get complicated
Posted by: minigoon
Date and time: 1/11/2022 8:06:56 PM
Text: https://fitinvestmentideas.com/2022/01/11/africa-energy-minutes-from-the-call-with-the-management/

Nice spike but what is the reason?

Africa Energy Corpor (HPMCF)
0.2436 ? 0.0078 (3.31%)
Volume: 29,500 @03/05/21 3:21:21 PM EST
Bid Ask Day's Range
0.221 0.266 0.2436 - 0.2552
HPMCF Detailed Quote

Eco (Atlantic) Oil & Gas

Eco has today announced its results for the three and nine months ended 31 December 2020, alongside a corporate and operational update.

Financially it is unfortunately very predictable, Eco has cash in the bank of $16.4m and no debt which makes it fully funded for its share of the two exploration wells in Guyana whenever they may come. Costs have been slashed by more than the industry norm, by over 50% in the 9 months to December so without doubt when the time comes Eco is extremely well placed to do well.

Operationally is where the waiting game is being played, ‘multiple light sweet oil drilling prospects on the Orinduik block are currently being reviewed by the Company and its licence partners’, with high-graded candidates being considered for the next drilling programme.

The intention is to provide further definition to the upper and lower Cretaceous interpretation and target selection for drilling. Whilst this is all very well, having made two discoveries on the block already it is high time they drilled again and but for the traumas that Tullow have got themselves into they would have done by now. I can’t add to previous comments about the licence partners except to say that they must have incredible patience with Tullow…

The good thing for Eco is that they, together with their strategic alliance partner Africa Oil Corp., continues to evaluate additional asset opportunities in both West Africa and South America. In Namibia where I have always rated their acreage particularly relative to their own size, they have successfully negotiated the reissuance of its four licenses in Namibia’s Walvis Basin for 10 years, which received final Government confirmation on 5 February 2021.

Another string to Eco’s bow is that they recently set up a JV to ‘source, acquire and develop an exclusive pipeline of potential high yield solar projects’ which is now called Solear Ltd. Eco agreed to provide a secured loan of up to $6 million to Solear, as a result of which the Company holds a 70% shareholding in Solear, with Nepcoe holding the remaining 30%. The Loan, which carries a 2% annual interest, is expected to be repayable from the proceeds of either a public or private financing, through operating cash flow, and/or a project monetization event.

In January 2021, Solear completed its first acquisition of a fully contracted, permitted, and build ready project in Greece, known as the Kozani Project. Solear is continuing to build its exclusive portfolio in Spain, Italy, and Greece and is targeting a further financing event in the form of a private finance and/or IPO later this year.

The key to this all is, apart from the obvious risk diversity is that it looks very much like this will be a vehicle to do a deal to enhance its value. Whether that will be an IPO of Solear or a standalone fund raise, either of which would likely make the value of the business look substantial and clearly please the market and revalue ECO.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:

“We have made significant progress in recent months across a number of aspects of the business. We have demonstrated our commitment to our core business strategy of achieving near-term exploration success in Guyana and Namibia, through maturing and upgrading the drilling targets’ inventory in Guyana and the successful reissuance of our licences in Namibia, as well as adding a highly relevant and attractive asset to our portfolio through the formation of Solear Ltd., a majority held renewable energy company.

“Successfully renegotiating our four licences offshore Namibia, which we see as being an increasingly active exploration jurisdiction, was an important milestone for the Company and gives us a considerable footprint in country from which we will seek create significant shareholder value.

“In Guyana, we continue to work with our partners in the Orinduik block to finalise drilling selection, and look forward to recommencing drilling activity in the coming months. We remain very confident in Guyana’s prospectivity as a hydrocarbon basin and the upside potential it offers. The recent increase in oil prices makes our existing discoveries in Guyana and drilling prospects inventory ever more attractive.

“Our recent strategic investment into Solear Ltd. demonstrates our drive and determination to use our cash reserves wisely alongside high impact exploration drilling. We are very excited about both the near-term opportunities that Solear brings, as well as the long-term benefits that come with broadening our asset portfolio. Solear has a highly attractive pipeline of low cost, high yield solar PV projects, that have the potential to generate high IRR returns for our shareholders. As ever, we look forward to keeping the market updated on our progress over the coming months.”

Shareholders in Eco have had to be a patient bunch, in any other time the highly prospective Guyana acreage would have been drilled again and more than likely runs would be on the board. In addition the pace of activity in Namibia has been slow but that it countered by the reissuance of the licences and of course with near neighbours in super major category there must be chances with the drill bit or in the corporate world. Add the Solear beta and value will out somehow or other, Eco stays in the Bucket list for certain and patient shareholders will be substantially rewarded in due course.

Africa Oil Corp news

News / 2021

Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.

No news

Pareto research - Better than expected production test at Luiperd
Africa Energy reports strong production test results from Luiperd with a higher than expected condensate yield of ~130 bbls/MMcf. This is equivalent to a liquids-ratio of 43%, which is well above our previously assumed 25%. As expected (link), total production of 9,820 boe/day was limited by surface equipment implying that production per well in the development phase likely will be much higher. Preliminary analysis indicate that we will increase our valuation by SEK 0.5-0.7/share on the back of today’s better than expected results. We also see upside potential from larger resource estimates and/or lower development costs (fewer wells needed) as the partners conduct further analysis when they now move into development planning for Block 11B/12B. BUY reiterated – TP SEK 4.0 to be increased

Africa Oil Announces Luiperd-1X Test Results December 7, 2020

[[ Partial owner of Africa Energy ]]

VANCOUVER, BC, Dec. 7, 2020 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce drill stem test results for the Luiperd-1X well, the second major discovery on Block 11B/12B offshore South Africa. The Company holds an indirect interest in the project as a result of its equity interests in Africa Energy Corp. (19.9%) and Impact Oil & Gas Limited (31.1%). View PDF version

Jan Maier, Africa Energy's VP Exploration, commented, "The Luiperd discovery proves that the Outeniqua Basin offshore South Africa is a world-class hydrocarbon province that remains highly under-explored. Luiperd-1X intersected 85 meters gross sands of which 73 meters is net good quality pay in the main target interval and thicker than prognosed. The well reached total depth of approximately 3,400 meters on October 12, 2020, at which point the drill stem testing program was initiated. We are very pleased with the positive test results that show high condensate yield and excellent reservoir connectivity. These results confirm the joint venture's decision to proceed with development studies and to engage with authorities about commercialization."

Read more at:
https://www.africaoilcorp.com/news/africa-oil-announces-luiperd-1x-test-results-122797/

Isn't that most of the time the case that people sell or buy before an announcement due to inside information?

Quote there were people with inside information who dumped before the announcement
That was not the point of discussion

well you can call it condinsate or liquid solids or whatever you want...obviously there were people with inside information who dumped before the announcement

Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natural gas will condense to a liquid state if the temperature is reduced to below the hydrocarbon dew point temperature at a set pressure.

The natural gas condensate is also called condensate, or gas condensate, or sometimes natural gasoline because it contains hydrocarbons within the gasoline boiling range, and is also referred to by the shortened name condy by many workers on gas installations. Raw natural gas may come from any one of three types of gas wells:

Crude oil wells: Raw natural gas that comes from crude oil wells is called associated gas. This gas can exist separate from the crude oil in the underground formation, or be dissolved in the crude oil. Condensate produced from oil wells is often referred to as lease condensate.
Dry gas wells: These wells typically produce only raw natural gas that contains no hydrocarbon liquids. Such gas is called non-associated gas. Condensate from dry gas is extracted at gas processing plants and is often called plant condensate.[3]
Condensate wells: These wells produce raw natural gas along with natural gas liquid. Such gas is also called associated gas and often referred to as wet gas.

Indeed

Con is not gas~ In fact it gives a preminum to gas. Just has to have a market!
Bob

Well it seems investors are not trilled with the news Mr Garrett Soden

i guess they were hoping for oil not gas and obviously there was insider dumping ahead of the news

AFRICA OIL ANNOUNCES SECOND SIGNIFICANT DISCOVERY ON BLOCK 11B/12B OFFSHORE SOUTH AFRICA

October 28, 2020

Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce a significant gas condensate discovery on the Luiperd prospect located on Block 11B/12B offshore South Africa. This discovery follows the adjacent play-opening Brulpadda discovery in 2019, which proved a significant new petroleum province in the region. The Company holds an indirect interest in the project as a result of its equity interests in Africa Energy (31.3%) and Impact Oil & Gas Limited (31.1%).

Garrett Soden, Africa Energy’s President and CEO, commented, “We are thrilled to announce the second consecutive discovery on Block 11B/12B offshore South Africa. We congratulate Total as operator for drilling the Luiperd-1X deepwater well safely and efficiently during the coronavirus pandemic and austral winter season. The Luiperd discovery reconfirms this world-class exploration play with substantial follow-on potential. The net pay encountered in the Luiperd target objective is significantly larger than the main reservoir at last year’s Brulpadda discovery. The Block 11B/12B partners are conducting a drill stem test to measure flow rates over the next few weeks. Due to the success at Luiperd, the joint venture has decided to proceed with development studies and engage with authorities on the commercialization of gas instead of drilling another exploration well in this program.”

Read more at:
https://mma.prnewswire.com/media/1321632/Africa_Oil_Corp__Africa_Oil_Announces_Second_Significant_Discove.pdf

i hope not but it appears to be bad news

Was that action a dump before a pump (news release)?
Bob

great news...bought it gets dumped.....seems like someone has other news?

Great news

Thanks to Manuel06 on Africa Oil

Here is a link to a Video where the South African Oil Minister was INVITED by Total to the oil rig Drilling Luiperd as it is now at TD and casing installed and cemented . Total is now running Tests on this well and news is immenent ( within 2 weeks ).
Here is the LINK for all to view....thanks to HotDog01 .
https://stockhouse.com/companies/bullboard?symbol=v.afe&postid=31771316
Looks very promising. Oil Minister has thoughts on this.


Hi Manuel06 Thank you very much for posting this information. I found the following link to the video worked.

Does anybody have any information on mutual fund or institutional buying of this stock I can only see one thing listed I can't find the information whether they're buying or selling?

Does anybody have any information on mutual fund or institutional buying of this stock I can only see one thing listed I can't find the information whether they're buying or selling?

AOI
Subject: Rumor of success at Luiperd!
[[ Thanks to pennyoilking on Stockhouse ]]
Date and time: 10/12/2020 7:18:50 AM
Text: AFE is up about 14% and AOI is up 7% in Stockholm!

Africa Energy

[[ Africa Oil is a substantial shareholder ]]

Sept 22, 2020

AFE has announced that it has raised $28m at SEK3.00 in a well, even oversubscribed offer. The proceeds are to finance the drilling programme of three exploration wells on Block 11B/12B offshore South Africa.

I recently had a Zoom chat with AFE CEO Garrett Soden who had already signalled the upcoming raise which continues the house strategy of concentrating solely on this potentially massive discovery made last year with Total. With the company concentrating in SA the Namibia acreage will likely be farmed-out and the market in that country is quite hot at the moment.

Africa Energy is a Lundin company with that family and Africa Oil having substantial shareholdings and directorships and the investing public own around 50%. It looks like a fantastic opportunity and the likes of Lundin and Hill are rarely wrong so despite having all its eggs in one basket its a pretty good basket…

https://www.malcysblog.com/2020/09/oil-price-igas-president-coro-longboat-africa-energy-falcon-and-finally/

Africa Energy Corp Spuds Luiperd-1X Well Offshore South Africa

[[ Thanks to - Jonas Wander-Levin ]]

VANCOUVER, BC, Aug. 28, 2020 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company"), an oil and gas company with exploration assets offshore South Africa and Namibia, is pleased to announce spud of the Luiperd-1X well, the second exploration well on Block 11B/12B offshore South Africa following the Brulpadda discovery in February 2019. View PDF version

Jan Maier, Africa Energy's VP Exploration, commented: "The Outeniqua Basin offshore South Africa remains an under-explored, world-class hydrocarbon province. The Luiperd-1X well will test the eastern area of the Paddavissie Fairway on Block 11B/12B to follow-up on the Brulpadda discovery of gas condensate and light oil last year. In the success case, the joint venture plans to flow test the Luiperd-1X borehole by performing a drill stem test. We look forward to drilling results in the fourth quarter."

Block 11B/12B is located in the Outeniqua Basin 175 kilometers off the southern coast of South Africa. The block covers an area of approximately 19,000 square kilometers with water depths ranging from 200 to 1,800 meters. The Paddavissie Fairway is in the southwest area of the block and includes the Brulpadda discovery, which confirmed the petroleum system. The Luiperd Prospect is the second to be drilled in a series of five large submarine fan prospects with direct hydrocarbon indicators defined utilizing both 2D and 3D seismic data.

The Luiperd-1X exploration well is being drilled in 1,795 meters of water by the Odfjell Deepsea Stavanger semi-submersible rig to a total depth of 3,550 meters subsea. The well will test the oil and gas potential in a mid-Cretaceous aged deep marine sequence where fan sandstone systems are developed within combined stratigraphic/structural closure. Drilling and evaluation of the well is expected to be completed in the fourth quarter of 2020.

Africa Energy holds 49% of the shares in Main Street 1549 (Proprietary) Limited, which has a 10% participating interest in Block 11B/12B. Total E&P South Africa B.V. is operator and has a 45% participating interest in Block 11B/12B, while Qatar Petroleum International Upstream LLC and CNR International (South Africa) Limited have 25% and 20% participating interests, respectively, in Block 11B/12B.


Read at:
https://markets.ft.com/data/announce/detail?dockey=600-202008280200CANADANWCANADAPR_C8049-1&fbclid=IwAR3tiM4nV5p7jbKFYBq-kZn_svF8ic0pKcFn9AbQp0gbKIHOnf6su-_p684

New Canada stock high of $0.49 !! Ding ding

New high of $0.48 Oil has been surprisingly good for the last couple of months!

Boom New all time of $0.47!! Keep it going!

Financials look great today!! Still debt free and much more drilling !

Huge volume today and hitting the $0.45cdn mark !!

Hit a nice new 52 week high today of $0.40 on the Canadian side (:

So drilling soon?

Africa Energy Reveals Total's Luiperd Drilling Timeline

[[ Africas Oil has a substantial ownership of Africa Energy ]]

OE Staff January 20, 2020

Following last year's large gas/condensate discovery at Brulpadda well offshore South Africa, French oil major Total is preparing to drill more wells in the vicinity.

After the Brulpadda, estimated by Rystad Energy to hold 500 mboe to 600mboe, the next well in line at the 11B/12B block is the Luiperd prospect.

Total in July last year struck a deal with Odfjell Drilling to use the Deepsea Stavanger rig – the same it had used for Brulpadda – for the 2020 drilling program in South Africa's Outeniqua Basin, located approximately 175 kilometers off the southern coast of South Africa.

The drilling company Odfjell Drilling at the time said that it expected the drilling program to take 180-280 days, with the rig mobilization to South Africa is expected to start in Q1 2020.


Read More At:
https://www.oedigital.com/news/474779-africa-energy-reveals-total-s-luiperd-drilling-timeline

https://seekingalpha.com/pr/17429636-africa-energy-reports-2018-year-end-results

NEWS! OIL STRIKE!
http://news.africaoilcorp.com/releases/entry/122754

hit something good darn it!

WELL SPUDED TODAY! NEWS
https://www.africaenergycorp.com/news-releases/africa-energy-spuds-brulpadda-1ax-well-offshore-so-122560/

Nice write up.
https://seekingalpha.com/article/4230172-africa-oil-corp-new-portfolio-approach-pay-incredibly-well?source=email_rt_article_readmore
Bob

https://impactoilandgas.com/impact-to-provide-funding-for-main-streets-participation-in-s-a-block-11b-12b/

I'm damned if I can find it? Can you give a link. Thanks
Bob

yes

Hi all,
Wondering why this site is in the category of "alternative energy"?
Is there a site for TSXV.AFE?
Thanks
Bob

https://www.africaenergycorp.com/site/assets/files/76771/aec_corp_presentation_september_2018_cormorant_spud_fin.pdf

Do we have a link to the PDF?

? September 10, 2018

? PDF Version


Africa Energy to Present at Pareto Securities Oil & Offshore Conference (Non-Regulatory)

VANCOUVER, Sept. 10, 2018 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company"), an oil and gas company with exploration assets offshore Namibia and South Africa, announces that the Company's President and Chief Executive Officer, Garrett Soden, will be presenting at the Pareto Securities Oil & Offshore investor conference in Oslo, Norway on Wednesday, September 12, 2018, at 4:45pm Central European Summer Time. View PDF version.

A copy of the presentation will be available on Africa Energy's website below.

About Africa Energy Corp.

Africa Energy Corp. is a Canadian oil and gas company with exploration assets offshore Namibia and South Africa. The Company is listed on TSX Venture Exchange (ticker "AFE") and Nasdaq First North Stockholm (ticker "AEC"). Africa Energy Corp. is part of the Lundin Group of Companies and is actively building an exploration and production portfolio across Africa.

Additional information

The information was submitted for publication, through the agency of the contact person set out below at 1:00 a.m. EDT on September 10, 2018.

SOURCE Africa Energy Corp.

Africa Energy Spuds Cormorant-1 Well Offshore Namibia

VANCOUVER, Sept. 4, 2018 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company"), an oil and gas company with exploration assets offshore Namibia and South Africa, is pleased to announce spud of the Cormorant-1 well on Petroleum Exploration License 37 ("PEL 37") offshore the Republic of Namibia. Africa Energy holds a 10% effective interest in PEL 37. View PDF version

Garrett Soden, President and CEO of Africa Energy, commented, "We are excited to be drilling our first oil exploration well, which could be transformational for the Company. There has recently been a resurgence of interest in the Namibian offshore region from oil majors, and the Cormorant-1 well has the potential to open a significant new play fairway."

PEL 37 covers 17,295 square kilometers in the Walvis Basin offshore Namibia approximately 420 kilometers south of the Angolan-Namibian border. The Cormorant-1 well is located in 545 meters of water and will be drilled by the Ocean Rig Poseidon drillship to a total depth of 3,830 meters subsea. The well will test the oil potential in a mid-Cretaceous aged deep marine fan sandstone system. Drilling and evaluation of the well is expected to take approximately 34 days.

In 2013, drilling of the Wingat-1 and Murombe-1 wells in the block directly south of PEL 37 confirmed the presence of mature, oil-prone source rock in the Walvis Basin. The Cormorant Prospect was defined utilizing a high-quality 3D seismic survey acquired in 2014 and is one of four similar submarine fan prospects on PEL 37. The Cormorant Prospect has gross best estimate prospective resources of 124 million barrels and, if successful, is expected to open a fairway of similar dependent fans with substantial resource potential across PEL 37.

Africa Energy owns one-third of Pancontinental Namibia (Pty) Ltd, which holds a 30% participating interest in PEL 37, resulting in a 10% effective interest for the Company. PEL 37 is operated by Tullow Namibia Ltd, which holds 35%, with partners ONGC Videsh Ltd. and Paragon Investment Holdings (Pty) Ltd, holding 30% and 5%, respectively.

About Africa Energy Corp.

Africa Energy Corp. is a Canadian oil and gas company with exploration assets offshore Namibia and South Africa. The Company is listed on TSX Venture Exchange (ticker "AFE") and Nasdaq First North Stockholm (ticker "AEC"). Africa Energy Corp. is part of the Lundin Group of Companies and is actively building an exploration and production portfolio across Africa.

Important information

Africa Energy is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above on September 4, 2018 at 12:01 a.m. EDT.

Gross best estimate prospective resources have been obtained from third party public disclosure and have not been subject to independent audit by the Company.

Forward looking statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or the Company's future performance, business prospects and opportunities, which are based on assumptions of management.

The use of any of the words "will", "expected" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of certain future events. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in oil prices, results of exploration and development activities, results of exploratory drilling activity in PEL 37, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Africa Energy Corp.