Africa Energy (TSE:AFE) has released an update.
Africa Energy Corp. has announced that CNR International is exiting its 20% stake in South Africa’s offshore Block 11B/12B, offering the shares to the remaining joint venture partners, who have 30 days to decide on their interest. Meanwhile, Africa Energy, through its subsidiary, remains committed to its 10% holding, emphasizing the importance of natural gas from the block for South Africa’s energy needs. The withdrawal of CNR is pending regulatory approval by South African authorities.
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