Africa Energy Corporation (AEC) began life as a new ventures vehicle in March 2015 with no assets but with backing from the Lundin Group, writes Iain Esau.
Chief executive Garrett Soden said Lundin managed to convince members of Tullow Oil’s technical team to join AEC amid exploration budget cuts “because they would have more freedom to pursue a contrarian strategy and aggressively acquire assets during the oil price downturn.”
