Africa Energy (TSE:AFE)
:AFE
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Africa Energy
(AFE)
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Rating:40Underperform
Price Target:
C$0.21
▲(90.00% Upside)
Action:Downgraded
Date:05/16/26
The score is primarily constrained by a no-revenue profile with persistent losses and ongoing cash burn, implying continued reliance on external funding or asset monetization. A debt-free balance sheet with positive equity provides some near-term cushion, but technical indicators remain weak/neutral and valuation offers limited support due to negative earnings and no dividend.
Positive Factors
Zero financial leverage
Reported zero debt in 2025 and TTM yields low financial leverage, reducing fixed interest obligations and distress risk. For an exploration firm that consumes cash, no debt preserves flexibility to pursue asset sales, farm-outs or equity raises on better terms over the coming months.
Negative Factors
No reported revenue
The absence of revenue across periods means the company lacks internally generated cash to sustain operations or validate commercial production. For an E&P explorer, this structural lack of income forces ongoing reliance on external capital or asset monetization, limiting self-sufficiency and strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Zero financial leverage
Reported zero debt in 2025 and TTM yields low financial leverage, reducing fixed interest obligations and distress risk. For an exploration firm that consumes cash, no debt preserves flexibility to pursue asset sales, farm-outs or equity raises on better terms over the coming months.
Read all positive factors
Africa Energy (AFE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$93.44M
Dividend YieldN/A
Average Volume (3M)13.61K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue GrowthN/A
EPS Growth96.52%
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. functions as an oil and natural gas exploration and production enterprise, with primary operations in South Africa and Namibia. The company possesses a 27.5% ownership in the offshore Block 2B Exploration Right, a property span...
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
0.21
Negative
0.22
Negative
0.18
Positive
Market Momentum
>-0.01
Positive
46.21
Neutral
40.00
Neutral
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 0.21, below the 50-day MA of 0.21, and below the 200-day MA of 0.18, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.21 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, 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$150.08M | 25.62 | 6.99% | ― | -6.33% | -69.06% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | C$65.33M | -9.19 | -7.10% | ― | -25.54% | -298.74% | |
54 Neutral | C$319.98M | -226.79 | -4.77% | ― | ― | 95.40% | |
47 Neutral | C$96.64M | -5.86 | 365.94% | ― | ― | -15.46% | |
40 Underperform | C$93.44M | -13.51 | -6.17% | ― | ― | 96.52% |
* Energy Sector Average
TSE:AFE
Africa Energy
0.20
0.06
44.44%
TSE:ROK
ROK Resources
0.30
0.10
55.26%
TSE:EOG
Eco Atlantic Oil & Gas
0.90
0.71
371.05%
TSE:AXL
Arrow Exploration Corp
0.53
0.12
29.27%
TSE:NSE
New Stratus Energy
0.73
0.39
117.91%
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.