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").
Africa Energy is part of the Lundin Group of Companies.
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.
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.
Block 2B is located in the Orange Basin and covers an area of 3,062 square kilometers about 300 kilometers north of Cape Town with water depths ranging from 50 to 200 meters. Eco Atlantic is the operator of this project.
3,062 km²
Offshore Oil Exploration
South Africa
27.5%
Petroleum Exploration License 37 (“PEL 37”) is located in the Walvis Basin and covers an area of 17,295 square kilometers about 420 kilometers south of the Angolan/Namibian border. Water depths over the main prospect area range from 400 to 600 meters.
17,295 km²
Offshore Oil Exploration
Namibia
*
* Pancontinental Namibia (Pty) Limited (“Pancontinental Namibia”) is currently applying for a new license for the blocks in PEL 37. The Company owns one-third of Pancontinental Namibia.