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Estimated 71 Billion Barrels...
murchr
#161 Posted : Thursday, April 19, 2012 10:38:24 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980

This article appeared in the London Financial Times yesterday.


Tullow's expectations of Kenya have exceeded their initial impressions. They are looking to mobilise 5 rigs for this year alone!

"Tullow Oil outperformed a falling London market on Wednesday as hopes grew that a discovery in Kenya had the potential to eclipse its previous finds.

Tullow was looking at options to accelerate drilling onshore in Kenya with five rigs available in the short term, management told a Merrill Lynch oil and gas conference on Tuesday.

Initial results from its first well had exceeded expectations before drilling had reached target depths, the company said.

“Even at this early stage, it appears that not only is this first basin potentially the same size as the whole of Uganda but that its prospectivity is better than in Uganda, not worse as previously thought,” Merrill Lynch told clients. “With six additional basins of similar size to chase after in Kenya, the opportunity set here is significant.”

http://www.stockhouse.co...p;t=list&l=0&r=0
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Mainat
#162 Posted : Thursday, April 19, 2012 11:01:44 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Hisah: the ka-thing touched $5.70
Sehemu ndio nyumba
youcan'tstopusnow
#163 Posted : Friday, April 20, 2012 10:23:05 AM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
murchr wrote:


it appears that not only is this first basin potentially the same size as the whole of Uganda

“With six additional basins of similar size to chase after in Kenya, the opportunity set here is significant.”


That is just huge!
GOD BLESS YOUR LIFE
Cde Monomotapa
#164 Posted : Friday, April 20, 2012 10:30:23 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
smile
hisah
#165 Posted : Friday, April 20, 2012 11:11:50 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Mainat wrote:
Hisah: the ka-thing touched $5.70

I was looking for 300%, but I've now decided to aim for 1000%. And am not greedy yet?!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
hisah
#166 Posted : Friday, April 20, 2012 12:05:47 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
youcan'tstopusnow wrote:
murchr wrote:


it appears that not only is this first basin potentially the same size as the whole of Uganda

“With six additional basins of similar size to chase after in Kenya, the opportunity set here is significant.”


That is just huge!

6 billion barrels estimated, but could be more.

1Barrel = $100. 6 Billion barrels = Error smile

Very hot money smile
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
murchr
#167 Posted : Friday, April 20, 2012 6:33:51 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
A row between Kenya and Somalia over their maritime border may deter multinational oil companies from exploring for oil and gas offshore east Africa, and a Somali official warned that the argument could escalate.

Block L5 is what is at risk I hope there is nothing in it

http://www.businessdaily.../-/14x22x5/-/index.html

"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
youcan'tstopusnow
#168 Posted : Friday, April 20, 2012 9:49:41 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
While there is much excitement about Nigeria, the continent's most populous country and an oil producer, investors should not neglect east Africa, said Alex-Handra Aime, a Johannesburg-based director at Emerging Capital Partners.
The region, which includes Kenya, Uganda, Tanzania, Burundi and Rwanda, is attractive given its robust demographics, GDP expansion and economies that are not solely reliant on oil to fuel their growth, she said.
"We really see Kenya leading the path, being an entry point or a gateway into the rest of east Africa, and quite a compelling one," she told the Summit in Johannesburg.
http://af.reuters.com/ar...p;virtualBrandChannel=0
GOD BLESS YOUR LIFE
murchr
#169 Posted : Saturday, April 21, 2012 6:16:03 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980


"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
ngapat
#170 Posted : Tuesday, April 24, 2012 10:57:12 AM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
Shell to buy Cove Energy for $1.8 bln
http://af.reuters.com/ar...ws/idAFJOE83N02P20120424
“Invest in yourself. Your career is the engine of your wealth.”
119 Pages«<1516171819>»
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