Africa Energy Corp. (V:AFE*CA)
Business Focus: Oil Exploration & Production - Offshore
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| Company Contact | |
| Address: | 885 W Georgia Street, Suite 2000 VANCOUVER BC V6C 3E8 |
| Tel: | 1-604-6897842 |
| Website: | https://www.africaenergycorp.com |
| IR: | See website |
| Key People | ||
| Garrett Soden Chairman of the Board | Robert Nicolella Chief Executive Officer | Jeromie J. Kufflick Chief Financial Officer | Jan Maier Vice President - Exploration |
| Business Overview |
| Africa Energy Corp. is a Canada-based oil and gas exploration company focused on South Africa. The Company owns approximately 49% of the common shares and 100% of the Class B shares in Main Street 1549 Proprietary Limited (Main Street 1549), which holds 10% participating interest in the Exploration Right for Block 11B/12B offshore the Republic of South Africa (Block 11B/12B). Block 11B/12B is located in the Outeniqua Basin approximately 175 kilometers (km) off the southern coast of South Africa. The block covers an area of 18,734 square kilometers (Km2) with water depths ranging from 200 meters in the north to 1,800 meters in the south. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Africa Energy Corp revenues was not reported. Net loss increased from $20.8M to $119.8M. Higher net loss reflects Loss on revaluation of financial asset increase from $0K to $114.2M (expense), Interest Exp-Net of Capitalized Interest increase from $11K to $816K (expense), Office and general increase of 4% to $177K (expense). |
| Employees: | 4 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $154.76M as of Dec 31, 2023 |
| Annual revenue (TTM): | $0.00M as of Dec 31, 2023 |
| EBITDA (TTM): | -$6.24M as of Dec 31, 2023 |
| Net annual income (TTM): | -$163.73M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$2.92M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $7.00M as of Dec 31, 2023 |
| Shares outstanding: | 1,407,812,249 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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