Africa Energy (TSE:AFE) has released an update.
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Africa Energy Corp. has announced a non-binding agreement with Arostyle Investments to restructure their joint investment in Main Street 1549, which has a 10% interest in Block 11B/12B offshore South Africa. This restructuring will potentially give Africa Energy a 75% direct interest in the block, while Arostyle will hold 25%, pending regulatory approvals.
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