Progress in the South African Block 2B license: Crown Energy’s partner Africa Energy signs two farmout agreements
Crown Energy AB (“Crown Energy” or “The Company”) are pleased to inform, that on February 25 2020, Africa Energy Corp (“Africa Energy”), our partner and also the operator of Block 2B offshore South Africa, announced the execution of two farmout agreements whereby Africa Energy will transfer an aggregate 62.5 per cent 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 2020. Africa Energy will retain a 27.5 per cent participating interest in Block 2B. Andreas