Africa Energy (CVE:AFE) Insider Sells C$700,000.00 in Stock

Africa Energy Corp. (CVE:AFE) insider Meren Energy Inc. sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of C$0.14, for a total value 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 trade represents a 1.81% decrease in their position.

Africa Energy Price Performance

AFE stock opened at C$0.17 on Friday. The stock’s 50 day moving average is C$0.20 and its two-hundred day moving average is C$0.20. Africa Energy Corp. has a 52-week low of C$0.10 and a 52-week high of C$0.55. The company has a market capitalization of C$81.46 million, a PE ratio of -17.00 and a beta of 0.81.

About Africa Energy

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.