Africa Energy Closes Farmouts on Block 2B Offshore South Africa
VANCOUVER, BC, April 20, 2021 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas company with exploration assets offshore South Africa and Namibia, has received governmental approval and closed the previously announced farmout transactions on Block 2B offshore South Africa. The Company has transferred operatorship and an aggregate 62.5% participating interest in the Exploration Right for Block 2B in consideration for a carry through the next exploration well, Gazania-1, which is expected to spud by the end of 2021.