Last C$0.15 CAD
Change Today -0.005 / -3.23%
Volume 690.2K
As of 3:52 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

africa hydrocarbons inc (NFK) Snapshot

Open
C$0.16
Previous Close
C$0.16
Day High
C$0.16
Day Low
C$0.15
52 Week High
11/14/13 - C$0.31
52 Week Low
09/17/13 - C$0.06
Market Cap
17.1M
Average Volume 10 Days
265.0K
EPS TTM
C$-0.01
Shares Outstanding
114.1M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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Current Stock Chart for AFRICA HYDROCARBONS INC (NFK)

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africa hydrocarbons inc (NFK) Details

Africa Hydrocarbons Inc., an exploration company, engages in the identification, acquisition, exploration, and development of petroleum and natural gas properties in north Africa. The company, through its subsidiary, Watutatu Inc., has a right to earn 47.5% interest in the Bouhajla Permit that covers an area of 416 square kilometres and is located onshore in the Pelagian Basin of east central Tunisia. The company was formerly known as Knight Metals Ltd. and changed its name to Africa Hydrocarbons Inc. in February 2012. Africa Hydrocarbons Inc. is based in Vancouver, Canada.

africa hydrocarbons inc (NFK) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$177.2K
Chief Financial Officer
Total Annual Compensation: C$72.0K
Compensation as of Fiscal Year 2013.

africa hydrocarbons inc (NFK) Key Developments

Africa Hydrocarbons Provides an Update Regarding the Re-Completion Operations at BHN-1 Well in Tunisia

Africa Hydrocarbons Inc. provided update regarding the Company's BHN-1 exploration well on the Bouhajla Permit (47.5% WI) in northeastern Tunisia. Africa Hydrocarbons has been advised by the Tunisian Department of Energy that, pursuant to the newly adopted Tunisian Constitution, all issues relating to natural resources contracts must be approved by the National Constituent Assembly. This is applicable to the Company's Bouhajla Permit in Northeast Tunisia and specifically to the second one-year extension, applied for pursuant to the Hydrocarbons Code by the operator and the state oil company, ETAP, in February 2014. The relevant government departments are developing procedures for implementing this new protocol. AHI will provide an update on the approval process by the National Constituent Assembly as soon as known. The Company had completed preparations for the re-completion of the BHN-1 exploration well and was preparing to commence the rig move when notified by the authorities of the new requirement for National Constituent Assembly approval. As a result, the workover rig contracted for this operation will move to a storage site until such time as the now-required approvals are in place. Once initiated, the re-completion will entail pulling the existing production tubing from the wellbore and re-perforating the Abiod formation using a casing gun and deep penetrating charges, followed by selective acidization of the individual perforation intervals.

Africa Hydrocarbons Provides Details on the Re-Completion Operations at BHN-1 Well in Tunisia

Africa Hydrocarbons Inc. provided the following operational update regarding the Company's BHN-1 exploration well on the Bouhajla Permit (47.5% WI) in northeastern Tunisia. The Company has completed preparations for the re-completion of its BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia. The re-completion will entail pulling the existing production tubing from the wellbore and re-perforating the Abiod formation using a casing gun and deep penetrating charges, followed by selective acidization of the individual perforation intervals. One additional zone within the Abiod will be perforated bringing the total number of zones to be evaluated to four. A workover rig has now been contracted and will move to the BHN-1 location once released from its current operation, anticipated to be in mid May 2014. The entire re-completion operation is expected to take 10-14 days. Extended flow testing will take place at a later date depending on the results of the re-completion operation.

Africa Hydrocarbons Inc. Provides Operations Update on BHN-1 Well on Bouhajla Permit in northeastern Tunisia

Africa Hydrocarbons Inc. provided the operational update regarding the company's BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia. The company has finalized a re-completion program for the BHN-1 well on the Bouhajla permit in northeast Tunisia. The operation will involve using a workover rig to pull the production tubing from the wellbore and re-perforate the Abiod using a casing gun and deep penetrating charges. To that end, materials and equipment have been sourced, and the process of contracting the services of the workover rig is underway. Additional details regarding the re-completion operation will be provided prior to the operation being undertaken, currently expected to be in late April 2014. The company also advises that ETAP, the Tunisian state oil company, has agreed to a one year extension to the first exploration period of the Bouhajla Permit, until April 28, 2015.

 

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