VANCOUVER, BC, Sept. 9,
2024 /CNW/ - Africa Energy Corp.
(TSXV: 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. View PDF version
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 Production
Right application will not occur until after the Block 11B/12B joint
venture receives environmental authorization in respect to the
EIAR.
The Company, through its investment in Main Street 1549 Pty
Ltd., which currently holds a 10% interest in Block 11B/12B, does not
intend to withdraw. The withdrawal of the joint venture partners
from Block 11B/12B is subject to all relevant regulatory
approvals by South African authorities. Subject to all relevant
regulatory approvals, Main Street 1549 Pty Ltd. expects to hold
100% interest in Block 11B/12B.
About Africa Energy Corp.
Africa Energy Corp. is a Canadian oil and gas exploration
company focused on South Africa.
The Company is listed in Toronto
on TSX Venture Exchange (ticker "AFE") and in Stockholm on Nasdaq First North Growth Market
(ticker "AEC").
Important information
This is information that Africa Energy is obliged to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication through the agency of the contact
persons set out above on September 9,
2024, at 2:00 a.m. ET.
The Company's certified advisor on Nasdaq First North Growth
Market is Aktieinvest FK AB, +46 739 49 62 50,
rutger.ahlerup@aktieinvest.se.
Forward looking statements
Certain statements contained in this press release constitute
forward-looking information, including Africa Energy's current
intention not to withdraw from Block 11B/12B. These
statements relate to future events or the Company's future
performance, business prospects and opportunities, which are based
on assumptions of management.
The use of any of the words "will", "expected", "planned",
"intends" and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward-looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of certain
future events. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in oil
prices, results of exploration and development activities,
including results, timing and costs of exploration and development
activity in the Company's area of operations and, uninsured risks,
regulatory changes, defects in title, availability of funds
required to participate in the exploration and development
activities, or of financing on reasonable terms, availability of
materials and equipment on satisfactory terms, outcome of
commercial negotiations with government and other regulatory
authorities, timeliness of government or other regulatory
approvals, actual performance of facilities, availability of third
party service providers, equipment and processes relative to
specifications and expectations and unanticipated environmental
impacts on operations. Actual future results may differ materially.
Various assumptions or factors are typically applied in drawing
conclusions or making the forecasts or projections set out in
forward-looking information. Those assumptions and factors are
based on information currently available to the Company. The
forward-looking information contained in this release is made as of
the date hereof and the Company is not obligated to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Africa Energy Corp.