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Africa Energy (AEC) investor relations material

Africa Energy Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary14 Aug, 2025

Executive summary

  • Focused on oil and gas exploration in South Africa, with a key interest in Block 11B/12B and recent restructuring to increase ownership to 75% pending regulatory approval.

  • Completed a major debt restructuring and private placement, improving liquidity and eliminating promissory note obligations.

  • Block 11B/12B partners TotalEnergies, QatarEnergy, and CNR are withdrawing, with interests to be reassigned to remaining partners.

  • Regulatory and market developments in South Africa support gas-to-power projects, aligning with national energy transition goals.

Financial highlights

  • Net loss of $0.4 million for Q2 2025, a significant improvement from $47.8 million loss in Q2 2024, mainly due to absence of non-cash revaluation losses.

  • Net loss for the six months ended June 30, 2025 was $1.3 million, compared to $71.9 million for the same period in 2024.

  • Cash and cash equivalents increased to $4.1 million at June 30, 2025, up from $2.3 million at December 31, 2024.

  • Operating expenses for Q2 2025 were $0.5 million, down from $47.6 million in Q2 2024, reflecting lower non-cash losses.

  • No oil and gas revenue generated to date as the company remains in the exploration stage.

Outlook and guidance

  • Expects to hold a 75% direct interest in Block 11B/12B after regulatory approvals and restructuring.

  • Focus remains on securing production rights, advancing development, and finding offtake customers for discovered gas resources.

  • Current financial position considered sufficient to achieve near-term objectives.

  • Next earnings report for the nine months ended September 30, 2025, scheduled for November 12, 2025.

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Frequently asked questions

Africa Energy Corp. is a Canadian company specializing in oil and gas exploration, with a strategic focus on South Africa. The company is engaged in the exploration and development of oil and gas assets, notably holding a significant interest in the Exploration Right for Block 11B/12B. This block, located in the Outeniqua Basin off the southern coast of South Africa, spans an extensive area and varies in water depth, making it a key asset in Africa Energy's portfolio. The company is headquartered in Vancouver, Canada, and its shares are listed on the TSX and the Nasdaq.

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