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 stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$0.14, for a total transaction of C$700,000.00. Following the sale, 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 position.

Africa Energy Stock Performance

Shares of Africa Energy stock opened at C$0.17 on Friday. The company has a market capitalization of C$81.46 million, a P/E ratio of -17.00 and a beta of 0.65. Africa Energy Corp. has a 1 year low of C$0.10 and a 1 year high of C$0.55. The company's fifty day moving average is C$0.20 and its two-hundred day moving average is C$0.20.

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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