Africa Energy Announces Second Quarter 2024 Results
Vancouver, BC, August 13, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, announces corporate update and financial and operating results for the three and six months ended June 30, 2024. 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 changes in base assumptions for discount rates applied in the