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

Africa Energy Corp. (CVE:AFE) insider Meren Energy Inc. sold 5,000,000 shares of the firm’s stock in a transaction dated 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 directly owned 271,982,414 shares in the company, valued at C$38,077,537.96. This represents a 1.81% decrease in their ownership of the stock.

Africa Energy Stock Performance

Shares of AFE stock opened at C$0.17 on Friday. Africa Energy Corp. has a twelve month low of C$0.10 and a twelve month high of C$0.55. The stock has a market cap of C$81.46 million, a price-to-earnings ratio of -17.00 and a beta of 0.65. The company’s 50-day moving average price is C$0.20 and its 200-day moving average price is C$0.20.

Africa Energy Company Profile

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.