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").
South Africa, Block 11B/12B
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. Total is the operator of this project.
Offshore Oil and Gas Exploration
* 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.