Africa Energy Corp (HPMCF)

[dat_51or]

Horn is the operator of two Puntland/Somolia oil exploration blocks. Horn has two partners (Range and Red Emporer), each owning 20%, and Horn owns 60%.

AOI owns 51% of Horn, (or put in another way, 30% of the two blocks).

So far one well has been drilled and oil discovered. This is very good news, but wasn't well received by some speculative owners and the share price dropped. While testing still needs to be done, AOI's pres thinks there is a 70% chance of commercial quantities. IMO confidence that this will flow commercial is pretty darn good.

A second well was spud today and should be done in 45-60 days. This well may have deeper pay zones and hopefully more oil.

Horn is a very promising invenstment that could end up owning 200 million + barrels of oil net, worth $5-$10/barrel by the end of the summer, with much more ground to explore and drill.

Do your own DD, but IMO, it is a buy and hold for 1-2 years.

dat