Africa Energy (TSE:AFE)
:AFE
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Africa Energy
(AFE)
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Rating:50Neutral
Price Target:
C$0.31
▲(181.82% Upside)
Action:ReiteratedDate:03/27/26
The score is held back primarily by very weak financial performance (no revenue, persistent losses, and ongoing cash burn). Technicals provide partial support with a generally positive longer-term trend and neutral momentum indicators, while valuation is constrained by loss-driven negative P/E and no dividend support.
Positive Factors
Low leverage / zero debt
Zero reported debt in 2025 and generally low leverage provide durable financial flexibility for an exploration company. This reduces interest burden, preserves headroom to support farm-out negotiations or raise project financing, and lowers short-term solvency risk.
Negative Factors
No recurring revenue base
Having no demonstrated revenue stream leaves the company dependent on episodic monetization events and partner funding. This structurally increases execution risk, makes planning and reinvestment difficult, and heightens reliance on capital markets and JV partners to fund exploration and retain licenses.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / zero debt
Zero reported debt in 2025 and generally low leverage provide durable financial flexibility for an exploration company. This reduces interest burden, preserves headroom to support farm-out negotiations or raise project financing, and lowers short-term solvency risk.
Read all positive factors
Africa Energy (AFE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$134.17M
Dividend YieldN/A
Average Volume (3M)13.61K
Price to Earnings (P/E)―
Beta (1Y)1.48
Revenue GrowthN/A
EPS Growth98.92%
CountryCA
Employees3
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.01
Shares Outstanding479,162,450
10 Day Avg. Volume26,821
30 Day Avg. Volume13,611
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.85
Price to Sales (P/S)0.00
P/FCF Ratio-18.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Africa Energy Business Overview & Revenue Model
Company Description
Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. It holds a 27.5% participating interest in the Exploration Right for Block 2B offshore that covers an area of 3,062 square kilometers lo...
How the Company Makes Money
Africa Energy’s primary economic model is to create value from upstream petroleum exploration and appraisal assets by holding equity interests in license-holding entities and benefiting from outcomes such as farm-outs, asset sales, or other moneti...
Africa Energy Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
36
Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | -14.00K | -32.00K |
| EBITDA | -2.31M | -1.85M | -4.63M | -5.81M | -5.17M |
| Net Income | -5.04M | -100.61M | -119.78M | -35.48M | 21.56M |
Balance Sheet | |||||
| Total Assets | 41.06M | 42.58M | 138.83M | 257.42M | 267.24M |
| Cash, Cash Equivalents and Short-Term Investments | 3.15M | 2.31M | 1.71M | 6.79M | 10.85M |
| Total Debt | 0.00 | 10.36M | 6.83M | 5.00M | 2.00K |
| Total Liabilities | 315.42K | 10.65M | 6.99M | 8.39M | 1.68M |
| Stockholders Equity | 40.74M | 31.92M | 131.85M | 249.03M | 265.56M |
Cash Flow | |||||
| Free Cash Flow | -1.88M | -1.11M | -2.13M | -11.26M | -4.24M |
| Operating Cash Flow | -1.88M | -1.11M | -2.13M | -3.02M | -4.04M |
| Investing Cash Flow | -219.78K | -582.00K | -3.95M | -7.22M | -5.00M |
| Financing Cash Flow | 2.91M | 2.30M | 1.00M | 6.22M | 287.00K |
Africa Energy Technical Analysis
Neutral
0.11
Price Trends
0.22
Positive
0.18
Positive
0.16
Positive
Market Momentum
0.02
Positive
50.70
Neutral
28.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AFE, the sentiment is Neutral. The current price of 0.11 is below the 20-day moving average (MA) of 0.32, below the 50-day MA of 0.22, and below the 200-day MA of 0.16, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 50.70 is Neutral, neither overbought nor oversold. The STOCH value of 28.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:AFE.
Africa Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | C$114.35M | 4.23 | 12.47% | ― | 22.88% | 2321.43% | |
67 Neutral | C$56.62M | -5.59 | -5.54% | ― | -13.32% | -811.11% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | C$328.55M | 31.91 | -2.71% | ― | ― | 86.19% | |
50 Neutral | C$134.17M | -6.84 | -6.17% | ― | ― | 98.92% | |
49 Neutral | C$80.53M | -4.99 | 365.94% | ― | ― | -63.05% |
* Energy Sector Average
TSE:AFE
Africa Energy
0.28
0.11
60.00%
TSE:ROK
ROK Resources
0.26
0.10
62.50%
TSE:EOG
Eco Atlantic Oil & Gas
0.95
0.78
475.76%
TSE:AXL
Arrow Exploration Corp
0.40
0.05
12.68%
TSE:NSE
New Stratus Energy
0.60
0.33
122.22%
Africa Energy Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Africa Energy Boosts Stake and Balance Sheet as South Africa Backs Gas Development
Positive
Mar 26, 2026
Africa Energy reported its 2025 year-end results alongside a clearer regulatory and political backdrop for natural gas in South Africa. Government ministers have underscored gas as a key transition fuel and singled out the company’s Block 11...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.