Africa Energy Corp.

Africa Energy Corp. , an oil and gas exploration company, announces financial and operating results for the year ended December 31, 2024. View PDF version FINANCIAL AND OPERATIONAL UPDATE The Company's financial results for the year ended December 31, 2024 have been negatively impacted by a US$97.4 million non-cash loss on revaluation of our investment in Block 11B/12B, offshore South Africa, which was due to changes in [...]

Africa Energy announces an update to the non-brokered private placement of common shares of the Company, previously announced on December 23, 2024. Following discussions with the TSXV, the transaction will now consist of a shares for debt transaction whereby the Company will settle approximately US$5,425,000 of existing indebtedness through the issuance of 389,847,000 Shares to existing debtholders, and a non-brokered [...]

Africa Energy is pleased to announce that it intends to complete a non-brokered private placement of up to 988,000,000 common shares to be sold at a purchase price of Canadian $0.02 per Share for aggregate gross proceeds of up to approximately US$13,750,000 . View PDF version In connection with the Private Placement, certain lenders under the Company's existing debt have committed to supporting the Private Placement [...]

Africa Energy announces that the Company and Arostyle Investments Proprietary Ltd. have entered into a non-binding agreement to restructure their joint investment in Main Street 1549 Proprietary, which currently has a direct 10% participating interest in Block 11B/12B offshore South Africa. View PDF version The Company owns 49% of the common shares and 100% of the Class B shares of Main Street. The remaining 51% of the [...]

Africa Energy Corp. announces that the Company, through its investment in Main Street 1549 Pty Ltd. , has formally become the operator of Block 11B/12B offshore South Africa. View PDF version Main Street is currently in the process of obtaining all the important information from the previous operator, including drilling, reservoir and development engineering data. Main Street is in the process of completing the [...]

Africa Energy Corp. , an oil and gas exploration company, announces corporate update and financial and operating results for the three and nine months ended September 30, 2024. View PDF version FINANCIAL AND OPERATIONAL UPDATE The Company's financial results for the nine months ended September 30, 2024 have been negatively impacted by a US$97.4 million non-cash loss on revaluation of our investment in Block 11B/12B, which [...]

Africa Energy Corp. has engaged Bergs Securities AB as its certified advisor on the Nasdaq First North Growth Market in Stockholm, replacing Aktieinvest FK AB. View PDF version About Africa Energy Corp. 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 and in Stockholm on Nasdaq First North Growth Market . Important [...]

Africa Energy Corp. announces that the joint venture partners in respect of Block 11B/12B, Offshore the Republic of South Africa, have obtained an extension to the deadline for the submission of the Environmental Impact Assessment Report to May 19, 2025. View PDF version In light of the withdrawal of the joint venture partners as announced July 29, 2024, the Company is currently assessing the best way forward in respect [...]

Africa Energy Corp. , an oil and gas exploration company, announces corporate update and financial and operating results for the three and six months ended June 30, 2024. View PDF version FINANCIAL AND OPERATIONAL UPDATE The Company's financial results for the six months ended June 30, 2024 have been negatively impacted by a US$70.2 million non-cash loss on revaluation of our investment in Block 11B/12B, which was due to [...]

Africa Energy Corp. announces that TotalEnergies EP South Africa B.V. and QatarEnergy International E&P LLC have provided notice to the joint venture partners that they will withdraw from their 45% and 25% interest, respectively, in accordance with the joint operating agreement in respect of Block 11B/12B, Offshore the Republic of South Africa . View PDF version As previously announced on July 1, 2024, CNR International [...]