Africa Energy Corp. announced that the joint venture partners on Block 11B/12B offshore South Africa have submitted an application for a Production Right. The Partnership is relinquishing the
northern portion of the block and electing to enter a Gas Market Development Period to confirm the economic viability of the project. Block 11B/12B is located offshore South Africa in the Outeniqua Basin approximately 175 kilometers off the southern coast of South Africa. After the proposed relinquishment, the block is expected to cover approximately 12,000 square kilometers. Africa Energy owns 49% of the common shares of Main Street 1549, which holds a 10% participating interest in Block 11B/12B. The block is operated by TotalEnergies EP South Africa BV, a wholly-owned subsidiary of TotalEnergies SE, which holds a 45% participating interest. Qatar Petroleum International Upstream LLC, a wholly-owned subsidiary of QatarEnergy, and CNR International (South Africa) Limited hold 25% and 20% of the block, respectively.