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Africa Energy acquires interest in Namibia

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  1. Sept 13 (Reuters) - Africa Energy Corp AFE.V

    • Africa Energy acquires interest in Namibia
    • Africa Energy - announces acquisition of one-third of shares in unit of Pancontinental Oil & Gas N.L.
    • Africa Energy Corp - Africa Energy paid Pancontinental US$2.2 million at closing
    • Africa Energy Corp - will pay additional US$5.5 million upon spud of first exploration
    • Africa Energy Corp - partnered with Pancontinental for an effective 10 percent interest in PEL 37 offshore Namibia
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