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Africa Energy Enters Into a Non-Binding Agreement with Arostyle

VANCOUVER, BC, Dec. 20, 2024 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that the Company and Arostyle Investments (RF) Proprietary Ltd. (“Arostyle”) (together the “Parties”) have entered into a non-binding agreement (the “Agreement”) to restructure their joint investment in Main Street 1549 Proprietary Ltd. (“Main Street”), which currently has a direct 10% participating interest in Block 11B/12B offshore South Africa.   The Company owns 49% of the common shares and 100% of the Class B shares of Main Street. The

Africa Energy Announces Block 11B/12B Operations Update

VANCOUVER, BC, Nov. 25, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that the Company, through its investment in Main Street 1549 Pty Ltd. (“Main Street”), has formally become the operator of Block 11B/12B offshore South Africa. 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 Environmental and Social Impact Report (“ESIR”) and expects to

Africa Energy Announces Third Quarter 2024 Results

VANCOUVER, BC, Nov. 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 and nine months ended September 30, 2024.   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 was due to changes in base assumptions for discount

Africa Energy Appoints New Certified Advisor in Stockholm

Vancouver, BC, September 18, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) has engaged Bergs Securities AB as its certified advisor on the Nasdaq First North Growth Market in Stockholm, replacing Aktieinvest FK AB. Important information The information was submitted for publication through the agency of the contact persons set out above on September 18, 2024, at 5:00 p.m. ET. The Company’s certified advisor on Nasdaq First North Growth Market is Bergs Securities AB, +46 739 49 62 50, rutger.ahlerup@bergssecurities.

Africa Energy Announces Block 11B/12B Operations Update

VANCOUVER, BC, Sept. 9, 2024 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) 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 (“EIAR”) to May 19, 2025. 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 to the Environmental Application process. The approval of the

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

Africa Energy Announces Block 11B/12B Operations Update

VANCOUVER, BC, July 29, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) 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 (“JOA”). As previously announced on July 1, 2024, CNR International (South Africa) Limited also provided notification of withdrawal

Africa Energy Announces Block 11B/12B Operations Update

VANCOUVER, BC, July 1, 2024 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that CNR International (South Africa) Limited (“CNR”) has provided notice to the joint venture partners that it will withdraw from its 20% interest in accordance with the joint operating agreement in respect of Block 11B/12B, Offshore the Republic of South Africa (“JOA”). Under the JOA, the other parties to the joint venture may advise whether or not they will also withdraw within 30 days. Withdrawing parties assign their interest free of

Africa Energy Announces Annual Meeting Voting Results and Corporate Update

VANCOUVER, BC, June 20, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) held its annual general and special meeting of shareholders in Vancouver, British Columbia today (the “Meeting”), and all resolutions were passed. Shareholders voted as follows on the matters before the meeting: Election of DirectorsShareholders elected the following six (6) board members to serve on the Company’s board of directors until the next annual meeting of shareholders or until their successors are elected or appointed: Nominee

Africa Energy’s Annual General and Special Meeting of Shareholders to be Held on June 20, 2024

VANCOUVER, BC, May 16, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) is pleased to announce that its Annual General and Special Meeting of Shareholders will be held in Canada on Thursday, June 20, 2024, at 9:00 am (Pacific Time) at Suite 2500, 666 Burrard Street, Vancouver, British Columbia, V6C 2X8 for the following purposes: 1. To receive the consolidated audited financial statements and accompanying management discussion and analysis of the Company for the year ended December 31, 2023, together with the report of the

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

Africa Energy Announces 2023 Year End Results

VANCOUVER, BC, March 27, 2024 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, announces financial and operating results for the year ended December 31, 2023.   Rob Nicolella, Chief Executive Officer of Africa Energy, said, “Our year end results have been negatively impacted by a US$114.2 million non-cash loss on revaluation of our investment in Block 11B/12B, which was due to changes in base assumptions for discount rates, future development costs and future operating costs applied in the

Africa Energy Announces Third Quarter 2023 Results

VANCOUVER, Nov. 15, 2023 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, announces financial and operating results for the three and nine months ended September 30, 2023. Rob Nicolella, Chief Executive Officer of Africa Energy, said, “We are encouraged by the focus within the government of South Africa to resolve the current energy crisis and the requirement for natural gas to play a critical role in the energy transition.” On March 6, 2023, the President of South Africa created a new role,

Africa Energy Amends Credit Facility

VANCOUVER, BC, Nov. 7, 2023 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that it has amended its existing credit facility, increasing the amount available from US$5.0 million to US$8.3 million and extending the maturity date to March 31, 2025 with Africa Oil Corp. (“Africa Oil”), Deepkloof Limited, Lorito Doraline S.à.r.l., Lorito Floreal S.à.r.l., Lorito Arole S.à.r.l. and Lorito Orizons S.à.r.l. (together, the “Lenders”).   Jeromie Kufflick, Africa Energy’s CFO, commented: “We are grateful for the continued

Africa Energy Announces Second Quarter 2023 Results

VANCOUVER, BC, Aug. 11, 2023 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, announces financial and operating results for the three and six months ended June 30, 2023.   OUTLOOK  The Block 11B/12B[1] joint venture has applied for the Production Right and is contemplating an early production system (“EPS”) for a phased development of the Paddavissie Fairway. The EPS would provide first gas and condensate production from the Luiperd discovery and would accelerate the Block 11B/12B

Africa Energy Announces Annual Meeting Voting Results and Corporate Update

VANCOUVER, BC, June 22, 2023 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) held its annual general and special meeting of shareholders in Vancouver, British Columbia today, and all resolutions were passed. The Board of Directors would like to thank Mr. William Lundin upon his resignation for his invaluable contribution and support since joining the Board in 2021. A total of 937,267,913 common shares were voted at the meeting, representing 66.58% of the votes attached to all the outstanding common shares of the Company.

Africa Energy Announces Corporate Update

VANCOUVER, BC, May 30, 2023 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces the appointment of Robert Nicolella as Chief Executive Officer to replace Garrett Soden effective June 22, 2023, following the Company’s annual shareholder meeting. As previously announced, Mr. Soden is expected to be appointed Chairman of the Board on June 22, 2023, following the departure of William Lundin. William Lundin, Chairman of Africa Energy, said, “We look forward to Robert’s appointment as CEO next month. He is a well-known South

Africa Energy’s Annual General and Special Meeting of Shareholders to be Held on June 22, 2023

VANCOUVER, BC, May 15, 2023 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) is pleased to announce that its Annual General and Special Meeting of Shareholders will be held in Canada on Thursday, June 22, 2023, at 9:00 am (Pacific Time) at Suite 2000, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8 for the following purposes: 1. To receive the consolidated audited financial statements and accompanying management discussion and analysis of the Company for the year ended December 31, 2022, together with the report of

Africa Energy Announces Corporate Update and First Quarter 2023 Results

VANCOUVER, BC, May 10, 2023 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, announces a corporate update and reports financial and operating results for the three months ended March 31, 2023.   CORPORATE UPDATE   Africa Energy’s Chairman of the Board, William Lundin, will step down from the board at the Annual General Meeting (“AGM”) on June 22, 2023, in order to comply with industry corporate governance guidelines regarding the maximum number of non-executive director appointments

Africa Energy Corporate Update

VANCOUVER, BC, March 30, 2023 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, has granted incentive stock options to certain directors, officers, employees and other eligible persons of the Company to acquire 19,180,000 shares of the Company at an exercise price of CAD$0.17 per share. The options are exercisable, subject to vesting provisions, over a period of five years.Important information   This is information that Africa Energy is obliged to make public pursuant to the EU Market

Africa Energy Reports 2022 Year End Results

VANCOUVER, BC, March 29, 2023 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas exploration company, announces financial and operating results for the year ended December 31, 2022.   Garrett Soden, the Company’s President and CEO, commented: “The Block 11B/12B joint venture has applied for the Production Right and is advancing the proposed Luiperd gas condensate development to support South Africa’s energy transition. The Company expects the operator, TotalEnergies, to finalize the development concept and gas

Africa Energy to Present at SpareBank 1 Markets Energy Conference

Vancouver, BC, February 27, 2023 /CNW/ – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that the Company’s Chief Financial Officer, Jeromie Kufflick, will be presenting at the SpareBank 1 Markets 2023 Energy Conference in Oslo, Norway on Wednesday, March 1, 2023, at approximately 2:45pm Central European Time. Investors can watch a live webcast of the presentation by registering for the conference at: http://sb1menergyconference.com/ A copy of the presentation will also be available on Africa Energy’s website below.

Africa Energy to Present at Pareto E&P Conference

January 16, 2023 – Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that the Company’s President and Chief Executive Officer, Garrett Soden, will be presenting at the Pareto Securities E&P Independents Conference in London, England on Wednesday, January 18, 2023, at approximately 11:10am Greenwich Mean Time.   A copy of the presentation will be available on Africa Energy’s website below.   Important information   The information was submitted for publication through the agency of the contact persons set out above

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