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UK Oil & Gas Publication Article

May 15, 2012 News No Comments


Youthful CEO spearheads exploration

May 15, 2012 News No Comments

When I arrived at the Hilton Hotel in Windhoek to interview the Chief Executive Officer of African International Energy, Aldworth Mbalati, I was expecting to meet a middle aged, greying or balding man.

To my surprise, the Mbalati I met was a youthful man, far younger that the leaders of the Swapo Youth League. Out of politeness, I refrained from asking his age, lest he think I looked down on him.

African International Energy (AIE) Plc recently announced that it had been awarded Block 2715 A and B with its local partner Petrotek to conduct gas explorations.

The company said it has committed US$10 million to the exploration phase. The South African-owned company has offices in the United Kingdom and a listing on the Frankfurt Stock Exchange.

Mbalati sounds very intelligent, wise and well informed for his age. He eloquently tells me that he sees great potential in Namibia with its small population and politically stable environment.

“Namibia is one of those fascinating African countries. It is a country that has a very stable fiscal regime. It is a country that holds great potential in hydrocarbons and hydrocarbons are what we are after.

“African International Energy is a company purely established to serve the African market with its energy needs and we believe that Namibia can be a true addition to our portfolio in terms of allowing us to achieve those objects,” he says.

In South Africa, the company owns the majority exploration rights in the Ibubhesi gas field located in the Orange Basin on the west coast of South Africa. The company also runs an energy project in Ghana.

Mbalati says it makes business sense to get into the Namibian market because the country is desperate for electricity.

“First of all Namibia is looking for electricity. The mines are looking for electricity.”

The company hopes to produce electricity from the Orange Basin in 2016, in a project he says is worth US$2.5 billion. The capital will come from shareholders and project finance. The initial plan is to produce 750 MW but the project could go up to 2000 MW, he says.

“Energy is a very good space right now. Development cannot happen without energy and everyone is keen to see development happen. So we are in a space where resources are prioritised to find this space to make sure that other sectors get a chance to survive, so I am highly optimistic about that.”

His company will sell electricity from the Orange Basin to any willing buyer in Namibia and not necessarily to NamPower.

“In the Namibian oil exploration licences, African Energy owns 63 percent, while a Namibian company, Petrotek, owns 27 percent and the State oil company Namcor owns 10 percent. We are hoping to get licences on other projects.”

I quiz Mbalati about why the company has not listed on its home turf, the Johannesburg Stock Exchange.

“We are a thoroughbred African company, registered in the United Kingdom, we are listed in Frankfurt and it is majority owned by South Africans. So it is an African entity, it is just a matter of corporate structuring that allows us to raise the most amount of capital in the mature markets in order to allow us to do what we want to do.”

But how does a small company, like African International Energy, expect to succeed when oil and gas majors have failed to develop the Kudu Gas project?

Mbalati says African International Energy is confident because it has “achieved critical milestones that other companies have failed to achieve”.

“We have the technical knowhow. We have financial support and the climate in terms of the demand for electricity has changed. We are very confident that we will be able to implement every step of the plans that we have.”

Right now, Mbalati is looking for office space in Windhoek for the Namibian operation; he hopes to open the office on 1 June.

I ask him whether African International will consider buying out Namibian partners. He says that will depend on the preference of the Namibian partners.

“The partnership is based on empowering the local economy; our partners have more equity in the business than other local companies on other projects.” –


AIE Bloomberg Interview

April 23, 2012 Events No Comments
African International Energy PLC’s CEO, Mr Aldworth Mbalati, was recently interviewed by Bloomberg about the launch and listing of the company on the Frankfurt Stock Exchange…

African green energy producer aims to ease grid

April 23, 2012 Events No Comments

African International Energy plans to become a leader in the production of green energy in Africa, following its acquisition of production and exploration licences in the Orange Basin on South Africa’s west coast.

AIE, which is listed on the Frankfurt Stock Exchange, is acquiring 100% of the total issued share capital of both Forest Exploration SA and Anschutz SA. The company secured the final terms of agreement with Forest Oil and Anschutz by paying a R79 million deposit on April 11.
AIE CEO Aldworth Mbalati said that the company expected to begin contributing natural gas energy to the national grid from the second half of 2016 or early 2017, from which a 2% contribution to the national grid is expected.
The project, which is expected to create “thousands” of jobs, has received the required funding from shareholders and is waiting for final approval from various government departments.

Mbalati co-founded AIE in 2010 with the purpose of contributing clean energy to an overburdened national grid that relied too heavily on coal-fired power stations, he said.

Click here for the original Business Live Article


Clean Energy Supply with Aldworth Mbalati

April 23, 2012 Events No Comments
Africa is extremely rich in renewable resources of all kinds, which have the potential to benefit the majority of its people within a relatively short time – if properly exploited in an effective, clean and renewable manner.
The inability of African governments to exploit these resources has brought with it the danger of locking Africa into a development path that will always place it behind the rest of the world.
For a look at South Africa’s clean energy supply, ABN’s Eleni Giokos speaks with Aldworth Mbalati, Chief Executive of the African International Energy agency.

AIE Listed on the Frankfurt Stock Exchange

April 23, 2012 News No Comments

African International Energy PLC Announces Listing on Frankfurt Stock Exchange

African International Energy announces it has listed on the first quotation board of the Frankfurt Stock Exchange.

African International Energy (AIE), a clean energy provider for Africa, is now listed on the first quotation board of the Frankfurt Stock Exchange. This listing allows AIE to remain in a state of continuous development, and to move forward with its focus on providing clean energy to the African market.
Aldworth Mbalati, CEO of African International Energy, says, “This listing brings AIE better access to capital and greater visibility to industry stakeholders. We are positioned as a key player in bringing clean energy to Africa.”
According to Mbalati, the deregulation of the energy industry in Africa has allowed AIE to use their entrepreneurial acumen and technological know-how to capitalize on the potential of massive energy investments. Much of Africa is still without a reliable electric infrastructure, demonstrated by the rolling blackouts that many countries continue to experience. African International Energy aims to take advantage of this opportunity by being at the forefront of clean, reliable energy from renewable resources.
Real economic development in Africa will not become a reality without proper electricity supply and infrastructure. As Africa grows, the demand for reliable electricity will continue to increase. “Energy is the primary catalyst which will allow Africa to achieve sustainable growth. AIE will be there to propel the clean energy movement forward,” says Mbalati. “We have a strong understanding of the markets we cater for. AIE is majority owned by management and staffed with personnel who understand the intricacies and challenges of the African energy industry. Our vision and drive allow us to stand out in the clean energy market.”

About AIE

Since Early 2010 the founders of African International Energy have focused on providing clean electricity using renewable energy sources. With offices in London and South Africa, the company is able to maintain close ties with investors while remaining connected to ongoing energy projects in Africa.
Real economic development and growth on the African continent depends largely on the availability of reliable energy infrastructure. Electricity is an integral catalyst to drive such growth. AIE is well positioned to take advantage of this opportunity by utilizing the most innovative technology that supports environmentally clean and renewable energy sources as fuel for power generation.
Our professional team and managers are among the most respectable players in the energy space. Adherence to the highest standards of ethics and corporate governance ensures that we run an economically successful and sustainable company delivering both financial success and value for our shareholders.

AIE PLC CEO Interview with Bloomberg

April 23, 2012 News No Comments

African International Energy Plc, a Johannesburg-based investor in energy projects on the continent, said its shares will start trading at 0.50 euros ($0.72) each on the Frankfurt Stock Exchange by July 8.

The company, which listed 256.64 million shares on the bourse in May, is in talks to buy a gas field in South Africa and aims to build a geothermal plant in East Africa, Chief Executive Officer Aldworth Mbalati said by phone today. It also plans to resuscitate a coal mine in Nigeria with a view to establishing a coal-fired power plant, he said.
African International is only listing its stock, meaning it’s exempt from issuing a prospectus, and plans to raise capital at a later stage, he said. “We have sufficient cash on our books.”Click Here to view the Bloomberg website article.


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