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Africa Energy
(AFE)
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Rating:40Underperform
Price Target:
C$0.17
▲(55.45% Upside)
Action:Reiterated
Date:07/09/26
The score is primarily constrained by weak financial performance (no revenue, continued losses, and ongoing cash burn). Technicals also point to a sustained downtrend with negative momentum, offering limited support despite near-oversold RSI. Valuation provides little offset because earnings are negative (making P/E less informative) and no dividend yield is available.
Positive Factors
Low Leverage and Positive Equity
Zero reported debt in 2025 and TTM alongside roughly $40M of equity provides durable financial flexibility. This reduces near-term refinancing risk and gives the company a balance-sheet buffer to fund exploration or sustain operations while it works toward revenue generation.
Negative Factors
No Revenue and Recurring Operating Losses
The absence of revenue and persistent operating losses point to an unproven commercial business model. Without demonstrable revenue generation, the company remains structurally dependent on external funding and cannot self-sustain operations or credibly finance growth from internal cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage and Positive Equity
Zero reported debt in 2025 and TTM alongside roughly $40M of equity provides durable financial flexibility. This reduces near-term refinancing risk and gives the company a balance-sheet buffer to fund exploration or sustain operations while it works toward revenue generation.
Read all positive factors
Africa Energy (AFE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$86.25M
Dividend YieldN/A
Average Volume (3M)13.61K
Price to Earnings (P/E)―
Beta (1Y)1.27
Revenue GrowthN/A
EPS Growth96.52%
CountryCA
Employees6
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 company in South Africa. The company focuses on potential gas condensate development on Block 11B/12B in offshore South Africa. The company was formerly known as Horn Petroleum Corporation...
Africa Energy Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | -14.00K | -32.00K |
| EBITDA | -1.61M | -2.31M | -1.85M | -4.63M | -5.81M | -5.17M |
| Net Income | -4.56M | -4.96M | -100.61M | -119.78M | -35.48M | 21.56M |
Balance Sheet | ||||||
| Total Assets | 40.66M | 41.06M | 42.58M | 138.83M | 257.42M | 267.24M |
| Cash, Cash Equivalents and Short-Term Investments | 2.73M | 3.15M | 2.31M | 1.71M | 6.79M | 10.85M |
| Total Debt | 0.00 | 0.00 | 10.36M | 6.83M | 5.00M | 2.00K |
| Total Liabilities | 353.25K | 315.42K | 10.65M | 6.99M | 8.39M | 1.68M |
| Stockholders Equity | 40.30M | 40.74M | 31.92M | 131.85M | 249.03M | 265.56M |
Cash Flow | ||||||
| Free Cash Flow | -2.10M | -1.88M | -1.11M | -2.13M | -11.26M | -4.24M |
| Operating Cash Flow | -2.10M | -1.88M | -1.11M | -2.13M | -3.02M | -4.04M |
| Investing Cash Flow | 181.81K | -219.78K | -582.00K | -3.95M | -7.22M | -5.00M |
| Financing Cash Flow | -23.97K | 2.91M | 2.30M | 1.00M | 6.22M | 287.00K |
Africa Energy Technical Analysis
Negative
0.11
Price Trends
0.20
Negative
0.23
Negative
0.18
Negative
Market Momentum
>-0.01
Negative
45.95
Neutral
88.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AFE, the sentiment is Negative. The current price of 0.11 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.20, and below the 200-day MA of 0.18, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 45.95 is Neutral, neither overbought nor oversold. The STOCH value of 88.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | C$132.93M | 21.33 | 6.99% | ― | -6.33% | -69.06% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | C$56.62M | -8.36 | -7.10% | ― | -25.54% | -298.74% | |
54 Neutral | C$361.72M | -257.18 | -4.77% | ― | ― | 95.40% | |
44 Neutral | C$81.28M | -5.00 | 73.97% | ― | ― | -15.46% | |
40 Underperform | C$86.25M | -13.25 | -6.17% | ― | ― | 96.52% |
* Energy Sector Average
TSE:AFE
Africa Energy
0.18
0.04
28.57%
TSE:ROK
ROK Resources
0.26
0.07
36.84%
TSE:EOG
Eco Atlantic Oil & Gas
1.04
0.87
494.29%
TSE:AXL
Arrow Exploration Corp
0.47
0.15
45.31%
TSE:NSE
New Stratus Energy
0.60
0.15
33.33%
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.