2024-07-09 01:50:00 ET
Summary
- Africa Energy announced that its partner in Block 11B/12B, CNR, intends to withdraw from the block and that the block operator, TotalEnergies, is considering its options.
- Africa Energy's share price reacted by dropping 75% on large trading volume.
- Investors are speculating that TotalEnergies will also withdraw after a Bloomberg article quoted a PetroSA source saying that TTE had already notified the government of its intention to withdraw.
Last week, we spoke to the company, analysts and South Africa insiders. Below is my understanding of where Africa Energy stands. ...
Read the full article on Seeking Alpha
For further details see:
Africa Energy Talks With Insiders - What Is Next?