Things Hotting Up, page-39

Africa Energy Corp acquired 1/3rd of PCL for £6m (current m/cap now £33m), for an effective 10% interest in PEL37,as PCL has a 30% interest

https://www.offshoreenergytoday.com/?p=250578

A valuation of £20m/10p sterling for 85% interest in PEL29 would seem a snip in comparison. Gemsbok being the main prospect, dwarfs anything in PEL37, with 1.75bln barrels and 3.66bln barrels over all mid case

In addition there are 4 substantial blocks in the Southern Adriatic awaiting permits being granted in Q4

It seems to me that there is an unprecedented amount of activity about to kick off in Namibia with two drillships and a semi-sub anchored in Walvis Bay. Now you can drill deepwater in Namibia currently for $35-45mUS per well as apposed to $95mUS initial costs for the last well to be drilled in Namibia

Put this way you can take out GBP, control 85% in a 3.66bln barrel prospect, shoot 3D seismic, drill a well and still have $30mUS change

I have just talk us into 15p sterling take out price ;-)