Africa Energy (CVE:AFE) Insider Meren Energy Inc. Sells 5,000,000 Shares

Africa Energy Corp. (CVE:AFE – Get Free Report) insider Meren Energy Inc. sold 5,000,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$0.14, for a total transaction of C$700,000.00. Following the completion of the transaction, the insider owned 271,982,414 shares of the company’s stock, valued at approximately C$38,077,537.96. This represents a 1.81% decrease in their ownership of the stock.

Africa Energy Price Performance

CVE AFE remained flat at C$0.17 during mid-day trading on Thursday. 47,575 shares of the company were exchanged, compared to its average volume of 37,688. The stock has a market cap of C$81.46 million, a P/E ratio of -17.00 and a beta of 0.65. The business has a 50-day simple moving average of C$0.20 and a 200 day simple moving average of C$0.20. Africa Energy Corp. has a 12-month low of C$0.10 and a 12-month high of C$0.55.

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Africa Energy Company Profile

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Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp. in March 2015. Africa Energy Corp. is headquartered in Vancouver, Canada.

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