Africa Energy Corp (HPMCF)

[douginil]

Africa Oil Announces Luiperd-1X Test Results December 7, 2020

[[ Partial owner of Africa Energy ]]

VANCOUVER, BC, Dec. 7, 2020 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce drill stem test results for the Luiperd-1X well, the second major discovery on Block 11B/12B offshore South Africa. The Company holds an indirect interest in the project as a result of its equity interests in Africa Energy Corp. (19.9%) and Impact Oil & Gas Limited (31.1%). View PDF version

Jan Maier, Africa Energy's VP Exploration, commented, "The Luiperd discovery proves that the Outeniqua Basin offshore South Africa is a world-class hydrocarbon province that remains highly under-explored. Luiperd-1X intersected 85 meters gross sands of which 73 meters is net good quality pay in the main target interval and thicker than prognosed. The well reached total depth of approximately 3,400 meters on October 12, 2020, at which point the drill stem testing program was initiated. We are very pleased with the positive test results that show high condensate yield and excellent reservoir connectivity. These results confirm the joint venture's decision to proceed with development studies and to engage with authorities about commercialization."

Read more at:
https://www.africaoilcorp.com/news/africa-oil-announces-luiperd-1x-test-results-122797/