Africa Energy Announces Corporate Update and First Quarter 2024 Results
VANCOUVER, BC, May 14, 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 months ended March 31, 2024. FINANCIAL AND OPERATIONAL UPDATE The Company’s financial results for the three months ended March 31, 2024, have been negatively impacted by a US$23.1 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