08:08 AM EDT, 04/29/2025 (MT Newswires) -- Africa Energy ( HPMCF ) on Tuesday said it appointed Phindile Masangane as head of strategy and business development.

Masangane, who will also join Africa Energy's ( HPMCF ) board and has over 15 years of executive management experience in the energy sector, most recently was part of the leadership team at Sasol South Africa (Pty). She has also served as the chief executive of The Petroleum Agency of South Africa and was a partner of KPMG.

A statement noted that the board approved a grant of 10 million incentive stock options which will be granted on May 1 at an exercise price per share that will be equal to the higher of the closing trading price of the company's shares on the TSX Venture Exchange on that day and $0.05. Subject to vesting provisions, the options will be exercisable over a period of four and a half years.

"We are pleased to have Phindile join our leadership group," said Africa Energy's ( HPMCF ) Chief Executive Robert Nicolella. "She brings a significant amount of experience in the energy sector to our team. She will be instrumental in assisting Africa Energy ( HPMCF ) as we work to move Block 11B/12B to the development phase and bring our world class gas and condensate discoveries to market. Her vast experience in energy infrastructure development, policy and regulation, along with project finance expertise, will play a pivotal role in shaping the strategic direction of the Company."