Africa Energy Corp (CVE:AFE) rose 10.3% during mid-day trading on Friday . The stock traded as high as C$0.22 and last traded at C$0.22, approximately 39,700 shares changed hands during trading. A decline of 83% from the average daily volume of 236,918 shares. The stock had previously closed at C$0.20.
The company’s fifty day moving average is C$0.21 and its 200-day moving average is C$0.23. The firm has a market capitalization of $133.36 million and a P/E ratio of -10.75.
About Africa Energy (CVE:AFE)
Africa Energy Corp. operates as an oil and gas exploration and production company in the Republic of South Africa. It holds a 90% interest in the offshore Exploration Right for Block 2B that covers an area of 4,360 square kilometers located in the west coast of South Africa; 30% interest in the Petroleum Exploration License 37 that covers an area of 17,295 square kilometers located in the northern Namibian offshore region; and 45% interest in the Block 11B/12B covering an area of approximately 18,734 square kilometers located in the Outeniqua Basin of the southern coast of South Africa.
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