Africa Energy Takes Charge of South African Block

Africa Energy (TSE:AFE) has released an update.

Africa Energy Corp has taken over as the operator of Block 11B/12B offshore South Africa through its investment in Main Street 1549 Pty Ltd. The company is working on obtaining key data and completing the Environmental and Social Impact Report, expecting to submit it in early 2025. With regulatory approvals, Main Street aims to hold 100% interest in the block following the withdrawal of joint venture partners.

For further insights into TSE:AFE stock, check out TipRanks’ Stock Analysis page.