There's no need for action, this is capitalism at its best. Im happy for the people who doubled their money in a day but sasa nikujaribu kustrategize going forward with little or no info??

S.Sudan oil politics and why Total is frowning...

http://www.reuters.com/a...twitter&dlvrit=56943

Check this story on business daily

I thought they said the gas wasn't commercially viable, hawa watu wanatufichia white.

Iko kitu. You just do not announce these kind of things and reverse then that quickly.

S.Sudan says oil pipeline via Kenya to cost $3 bln

Fri Aug 10, 2012 3:14pm GMT Print | Single Page [-] Text [+]


By Kelly Gilblom

NAIROBI (Reuters) - A pipeline allowing South Sudan to export its oil via the Kenyan port of Lamu, freeing the landlocked country from reliance on a route through Sudan, will cost $3 billion, Finance Minister Kosti Manibe said.

Manibe said that although South Sudan did not have the money to pay for the pipeline's entire cost, the newly independent country would invest in the project and had the necessary reserves of crude to offer guarantee to any financiers.

"The 2,000 km pipeline will cost approximately $3 billion dollars," he told a news conference in Nairobi on Friday.

"We don't need to have the money right now, we have the reserves," he said. "South Sudan will definitely have equity in the pipeline," he added.

Officials expect construction on the pipeline will begin by June 2013 and last two years. They said it will be able to transport between 700,000 barrels and 1 million barrels of Southern Sudanese crude per day.

South Sudan has 7 billion in proven reserves, the country's energy minister Stephen Dhieu Dau said. found oil deposits in March should they be prove to be commercially viable, said Kiraitu Murungi, Kenya's energy minister.

"We believe from the indications that we've been given that we if we are lucky we might have as much oil as (South) Sudan. Any extra that we don't use in the country we are going to put in the same pipeline as the Sudanese oil and export it through the port of Lamu," said Murungi.

Murungi said the country is also planning to build a second refinery in the northeastern town of Isiolo to produce up to 100,000 barrels per day and refine crude from Turkana.

Kenya already has another refinery near the port of Mombasa, processing 1.6 million tonnes of crude a year.

http://af.reuters.com/ar...ws/idAFJOE87903C20120810

[quote=murchr]

http://www.rte.ie/news/b...oad/2012/0926dolmen.pdf[/quote]

Hmmm!, interesting point on UG. M7 has for eons insisted that all his oil be refined locally so he can export to .ke It seems he is now coming around to seeing sense in refining just enough for domestic use and exporting the rest via Kenya

("Africa Oil" or the "Company") is pleased to announce the spudding in Kenya of the Paipai-1 exploration well located in onshore Block 10A, on September 29, 2012. The well is planned to drill to a total depth of 4,112 meters and will test Cretaceous and Jurassic sandstone targets. The well is operated by Tullow Oil plc ("Tullow") who hold a 50% working interest. Africa Oil holds a 30% working interest in the Block. The Paipai-1 will be drilled using the Sakson PR-5 rig and is targeting gross best estimated prospective resources of 121 million barrels by the Company''s independent resource evaluator.
http://finance.yahoo.com...-paipai-1-060000491.html

I'm surprised Murchr is not all over this!!! October has started well, lets wait and see