Horn Petroleum Corp. (TSXV: HRN.V) said March 11 it will focus on onshore and shallow-water opportunities in Africa, and will change its name to Africa Energy Corp. Initially, the company will focus on Sub-Saharan Africa.
The strategy will take advantage of the downturn in oil prices, and the company will remain in the Lundin Group of companies and continue trading on the TSX Venture Exchange under the ticker “AFE.V,” Horn said.
The name change will be effective on March 12, and Africa Energy will be managed from a new office in Cape Town, South Africa.
Jan Maier joined the management team as vice president-exploration. He has more than 32 years of experience in African new-venture exploration, and has worked at Energy Africa Ltd. and Tullow Oil Plc (OTC: TUWOY), overseeing exploration strategy and oversight of geoscience and commercial teams.
James Phillips, president and CEO of Africa Energy, will relocate to Cape Town. Keith Hill, currently the president and CEO for Africa Oil Corp., will continue as chairman of the board of directors for Africa Energy.
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