Africa Energy Corp. is a Canadian oil and gas exploration company focused on South Africa.
The Company is listed in Toronto on TSX Venture Exchange (ticker "AFE") and in Stockholm on Nasdaq First North Growth Market (ticker "AEC").
Block 11B/12B is located in the Outeniqua Basin approximately 175 kilometers off the southern coast of South Africa. The block covers an area of 18,734 square kilometers* with water depths ranging from 200 meters in the north to 1,800 meters in the south. The Cretaceous Post-rift Paddavissie Fairway, which contains the Luiperd and Brulpadda discoveries, is located within the southwest corner of the block. TotalEnergies is the operator of this project.“**
18,734 km²*
Offshore Oil and Gas Exploration
South Africa
4.9%**
* As part of the Production Right application, the Block 11B/12B joint venture proposed to relinquish the northern portion of the block, reducing the area from 18,734 square kilometers to approximately 12,000 square kilometers.
** In August 2020, the Company signed definitive agreements to increase its effective interest in Block 11B/12B from 4.9% to 10%, subject to various consents and approvals. In July 2024, TotalEnergies, QatarEnergy and Canadian Natural Resources provided notice to the joint venture partners that they were withdrawing from their 45%, 25% and 20% interest in Block 11B/12b, respectively, in accordance with the JOA. See operations section, South Africa: Block 11B/12B for more details.
*** In July 2024, Total provided notification to the Company that it would be resigning as operator of Block 11B/12B.