Africa Energy Corp. (V:AFE*CA)

Business Focus: Oil & Gas Exploration and Production

Sector:  Energy Industry:  Oil & Gas Exploration and Production
See Regulatory Filings on SEDAR
Company Contact
Address: 885 Georgia St W Suite 2000
Tel: N/A
IR: See website
Key People
Keith C. Hill
Chairman of the Board
Garrett Soden
President, Chief Executive Officer, Director
Jeromie J. Kufflick
Chief Financial Officer
Mark Dingley
Chief Operating Officer
Business Overview
Africa Energy Corp. (Africa Energy), formerly Horn Petroleum Corporation, is a Canada-based exploration-stage international oil and gas exploration and development company. The Company focuses on the BLOCK 2B in South Africa. Block 2B covers approximately 4,360 square kilometers of the South African Western offshore approximately 300 kilometers north of Cape Town. Block 2B is an under explored, shallow water area off the west coast of South Africa containing a proven hydrocarbon-bearing rift basin.
Financial Overview
For the fiscal year ended 31 December 2018, Africa Energy Corp revenues was not reported. Net loss increased from $4.7M to $13.1M. Higher net loss reflects Stock-based compensation increase from $196K to $1.1M (expense), Foreign exchange (gain)/loss decrease from $395K (income) to $38K (expense), Stock exchange and filing fees increase from $55K to $328K (expense).
Reporting Currency: U.S. Dollars
Enterprise value: $142.97M as of Dec 31, 2018
Annual revenue (TTM): $0.00M as of Dec 31, 2018
EBITDA (TTM): -$7.03M as of Dec 31, 2018
Net annual income (TTM): -$17.61M as of Dec 31, 2018
Free cash flow (TTM): -$5.96M as of Dec 31, 2018
Net Debt Last Fiscal Year: N/A
Shares outstanding: 683,889,427 as of May 2, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization