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Estimated 71 Billion Barrels...
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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hisah wrote:African Oil Explorer Swala Energy Sets Sights on IPO - http://blogs.wsj.com/dea...rgy-sets-sights-on-ipo/
Quote:Swala Energy Ltd. is seeking to raise up to 13 million Australian dollars (US$13.6 million) in an initial public offering to fund a drilling campaign in Tanzania and Kenya. Foster Stockbroking and Argonaut Securities are joint lead managers for the offer, and the company hopes to list on the ASX in late March. The company’s roster of ex- Woodside managers includes chief financial officer
Elizabeth Obiero...Some Kenyans in the mix, eh? Her profile: http://www.swala-energy....hief-financial-officer/
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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youcan'tstopusnow wrote:hisah wrote:African Oil Explorer Swala Energy Sets Sights on IPO - http://blogs.wsj.com/dea...rgy-sets-sights-on-ipo/
Quote:Swala Energy Ltd. is seeking to raise up to 13 million Australian dollars (US$13.6 million) in an initial public offering to fund a drilling campaign in Tanzania and Kenya. Foster Stockbroking and Argonaut Securities are joint lead managers for the offer, and the company hopes to list on the ASX in late March. The company’s roster of ex- Woodside managers includes chief financial officer
Elizabeth Obiero...Some Kenyans in the mix, eh? Her profile: http://www.swala-energy....hief-financial-officer/
Yes. Now you too plan how to get involved  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 7/17/2011 Posts: 627 Location: Mbui-Nzau, Kikumbulyu
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Rank: Elder Joined: 1/27/2011 Posts: 1,777
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wanyee wrote:http://www.businessdailyafrica.com/Tullow-strikes-natural-gas-deposits-in-the-north/-/539546/1683450/-/lc1n9/-/index.html AS it gets complicated Can someone please explain this to me? Quote:Industry analyst George Wachira said commercial natural gas deposits interrupt the momentum in the continued search and testing at the Twiga 1 , Ngamia 1 well and also the Mbawa natural gas prospect off the coast of Lamu.
“Finding of gas also delays commercial confirmation of already discovered oil which, hopefully, the drilling of “Sabisa-1” in Ethiopia will help to confirm,” he added.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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josiah33 wrote:wanyee wrote:http://www.businessdailyafrica.com/Tullow-strikes-natural-gas-deposits-in-the-north/-/539546/1683450/-/lc1n9/-/index.html AS it gets complicated Can someone please explain this to me? Quote:Industry analyst George Wachira said commercial natural gas deposits interrupt the momentum in the continued search and testing at the Twiga 1 , Ngamia 1 well and also the Mbawa natural gas prospect off the coast of Lamu.
“Finding of gas also delays commercial confirmation of already discovered oil which, hopefully, the drilling of “Sabisa-1” in Ethiopia will help to confirm,” he added. No worries with the slight delays on commercial viability here & there coz of natural gas strikes, international oil & gas insurers are already setting up in KE.
http://www.nation.co.ke/.../-/nije1qz/-/index.html
There's plenty of oil. Stay focussed
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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State launches blueprint for northern Kenya http://www.businessdaily...16/-/ygut59/-/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
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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UG doing the same - http://www.monitor.co.ug.../-/urvqouz/-/index.html
Meanwhile KE political rhetoric makes other EA members nervous while big deals are flowing, but nobody is seeing the airports, roads, infrastructure, Lapsset etc money train. When the dust settles, a year later around this time the discussions will be interesting...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 2/18/2011 Posts: 448
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@hisah and the other energy gurus what do you think about swala energy and its three oil blocks? is it a worthy deal in terms of location of the blocks and ability to strike a good bpd?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Quote:Nairobi (Reuters) Africa Oil will likely release a press release on final test relevant flows the Kenyan well Twiga tomorrow, Wednesday.
It said the company's CEO Keith Hill told reporters on Tuesday in Nairobi.
In January, released preliminary results indicated that Parliament flows was 500 bopd per interval of Twiga well.
Africa Oil's which is Twiga is 50 percent. Operator is British Tullow Oil with the remaining 50 percent.
Keith Hill also said that Wednesday's press release could contain any kind of information or situational awareness around the Kenyan well Paipai where Africa Oil has an interest in 30 percent and where Tullow is the operator again.
"We have done a further analysis and it indicates that the reservoir is better than we expected before", says CEO Keith Hill.
Recently,Kenyan media reports claimed that gas found in Paipai. Quote:
NAIROBI (Reuters) Africa Oil is willing to sell the entire company for 2-3 years.
It says oil exploration company's CEO Keith Hill in an interview with Nyhestbyrån Direct on Tuesday in the Kenyan capital Nairobi.
"I have met almost all the major players and they have all expressed interest but honestly I do not think they are so interested right now. They wait probably be happy for us to drill more wells so that the risk is reduced and they are then ready to pay a premium, "says the CEO.
He continues:
"Lukas Lundin has said that we are not for sale now, but in 2-3 years, we could consider selling the company or taking on a major partner to fund our operations going forward."
Africa Oil's budget for capital expenditure, capex, amounts to $ 186 million for this year and in 2014 assessed the level of investment could possibly increase slightly.
"Capex for next year is likely to be on par with or greater than the current year," said president allowing a budget of at least $ 200 million seems reasonable for 2014.
How will you get the money for 2014?
"If we do not get any jätteattraktivt bid from any of the really big players in the oil sector, I think we perhaps should get more money through a private placement and drill another year before we board an extensive partner or even sell the entire company" .
As for the Kenyan cockpit Twiga Africa Oil has found indications that the well's reservoir is better than the company previously thought.
"We've done some analysis and it indicates that the reservoir is better than we previously thought," said the President.
Do you think you can get up commercially recoverable oil from the deeper section of the well-Twiga?
"We have tested and we will go out with a press release about it," said Keith Hill, without going into detail about it.
What utfarmningsmöjligheter is concerned, look at Africa Oil to bring in a partner in its Somali operations and one or two licenses in Ethiopia, according to CEO.
The presidential election in Kenya, whose first round will be held on March 4, with a possible second round on April 11, hoping Keith Hill that power transmission is more peacefully than what happened at the last election in december 2007, when unrest in the aftermath of the election results led to more than a thousand deaths.
"From our standpoint, we are afraid it may affect our operations, we see no direct security threats to our staff. There is a reasonable risk that the business goes down a bit in the next few laps 6-8 weeks. But hopefully maktöverlämnadet much more peaceful to than the last, and things go back to normal. Oil has not been a major topic of debate in this election, "said Keith Hill the approaching Kenyan presidential election.
In 2013 the company is expected to drill 10 wells of interest, according to Keith Hill
Quote:STOCKS NEWS EUROPE-Tullow, Afren climb on Kenya well rumours
Shares in explorers Tullow and Afren gain 3 percent and 10 percent in late trading as traders cite rumours around a possible successful drilling result from a key well in Kenya, the results of which are due shortly.
"The reason [for the price moves] is market rumours that drilling results on the Kenyan Paipai prospect are coming," one trader says.
Tullow, which has a 50 percent share of the Kenya licence in question alongside partners Afren with 20 percent, and Canada's Africa Oil with 30 percent, said earlier in January that a result from Paipai was expected in February.
Drilling at the high-risk well in the frontier area of northern Kenya started in October.
East Africa has become a hotbed of exploration after several petroleum discoveries in the area, including one by Tullow in Kenya, pushed the region into the international limelight.
Tullow declined to comment on the rise in its share price, while Afren, whose shares hit their highest level since last April, was not available for comment.
Reuters messaging rm://sarah.young.thomsonreuters.com@reuters.net"
and more http://www.reuters.com/a...e=marketsNews&rpc=43"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
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Obama State of the Union: Free our economy from being oil dependent and increase production of US oil.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Nabwire wrote:Obama State of the Union: Free our economy from being oil dependent and increase production of US oil. I have told u before...China is our market "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
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Lest the US is slapped with another oil embargo if history does repeat itself.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mibbz wrote:@hisah and the other energy gurus what do you think about swala energy and its three oil blocks? is it a worthy deal in terms of location of the blocks and ability to strike a good bpd? I only follow Af oil & tullow.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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http://www.standardmedia...ommercial-oil-production"Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 3/26/2012 Posts: 280
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Saw over the weekend at Mulolongo trailers packed with huge pipes marked Tullow. Looks like there is much more than we know. DOH
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Here is the news on Twiga Quote:
Africa Oil Corp.
Company Announcement
TWIGA SOUTH-1 WELLTESTS 2,351 BARRELS OF OIL FROM TWO ZONES - FINAL TEST ONGOING
February 13, 2013 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to provide the following update in respect of its ongoing operations in Kenya.
Four flow tests have been carried out on the Twiga South-1 well in January and early February and a fifth test is ongoing. A cumulative rate of 2,351 bopd was recorded from two separate sands in the Auwerwer formation. One test flowed at a maximum natural flow rate of 1,860 bopd of 37°API oil and the other flowed at a rate of 491 bopd using a Progressive Cavity Pump (PCP). The final flow test in the Auwerwer formation is ongoing using a PCP and we anticipate that the zone will flow over 500 bopd taking the total combined rate to over 2,850 bopd for the well. Two deeper tests were also completed on the tight reservoir rock at the bottom of the well and, as anticipated, both produced at sub-commercial flow rates and reconfirmed the presence of moveable oil.
The reservoir quality of the Auwerwer sands appears to be significantly better than predicted which was also supported by recent core analysis data with several values over 1 darcy permeability. These tests provide the first potentially commercial flow rates achieved in Kenya and provide real encouragement for the forthcoming DST programme at the Ngamia discovery, located approximately 22 kilometres to the south of Twiga South-1. With the conclusion of the Twiga South-1 testing programme, the Weatherford-804 rig will move to Ngamia-1A to re-enter the well and perform at least four flow tests.
The Company also reports that the Paipai-1 well has reached a total depth of 4255 metres, encountering igneous rocks at the base that appear to be basement. Light hydrocarbon shows were encountered in sands in the Lower Cretaceous interval and the well is currently being cased for additional fluid sampling by MDT. Further testing or evaluation of Paipai, if warranted, would follow with a dedicated testing unit. On completion of operations at Paipai, the Sakson PR-5 will mobilise to Kenya Block 10BB to spud the Etuko-1 well in the Lokichar basin. The spud is expected in 2Q 2013.
Africa Oil President and CEO, Keith Hill, stated, “We are extremely pleased at the reservoir quality and resultant flow rates in the shallow Auwerwer sands confirmed by this testing. We will now focus on this section as the primary reservoir in our upcoming exploration program on the western flank of the Lokichar Basin. We remain intrigued by the lower fractured reservoir and Lower Lokhone sands which will be further evaluated in future exploration. Our aggressive 2013 drilling program includes numerous high impact wells on trend with the Lokichar discoveries but also wells in new areas designed to open additional sub-basins in our large acreage portfolio.”
"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
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Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi
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murchr wrote:Here is the news on Twiga Quote:
Africa Oil Corp.
Company Announcement
TWIGA SOUTH-1 WELLTESTS 2,351 BARRELS OF OIL FROM TWO ZONES - FINAL TEST ONGOING
February 13, 2013 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to provide the following update in respect of its ongoing operations in Kenya.
Four flow tests have been carried out on the Twiga South-1 well in January and early February and a fifth test is ongoing. A cumulative rate of 2,351 bopd was recorded from two separate sands in the Auwerwer formation. One test flowed at a maximum natural flow rate of 1,860 bopd of 37°API oil and the other flowed at a rate of 491 bopd using a Progressive Cavity Pump (PCP). The final flow test in the Auwerwer formation is ongoing using a PCP and we anticipate that the zone will flow over 500 bopd taking the total combined rate to over 2,850 bopd for the well. Two deeper tests were also completed on the tight reservoir rock at the bottom of the well and, as anticipated, both produced at sub-commercial flow rates and reconfirmed the presence of moveable oil.
The reservoir quality of the Auwerwer sands appears to be significantly better than predicted which was also supported by recent core analysis data with several values over 1 darcy permeability. These tests provide the first potentially commercial flow rates achieved in Kenya and provide real encouragement for the forthcoming DST programme at the Ngamia discovery, located approximately 22 kilometres to the south of Twiga South-1. With the conclusion of the Twiga South-1 testing programme, the Weatherford-804 rig will move to Ngamia-1A to re-enter the well and perform at least four flow tests.
The Company also reports that the Paipai-1 well has reached a total depth of 4255 metres, encountering igneous rocks at the base that appear to be basement. Light hydrocarbon shows were encountered in sands in the Lower Cretaceous interval and the well is currently being cased for additional fluid sampling by MDT. Further testing or evaluation of Paipai, if warranted, would follow with a dedicated testing unit. On completion of operations at Paipai, the Sakson PR-5 will mobilise to Kenya Block 10BB to spud the Etuko-1 well in the Lokichar basin. The spud is expected in 2Q 2013.
Africa Oil President and CEO, Keith Hill, stated, “We are extremely pleased at the reservoir quality and resultant flow rates in the shallow Auwerwer sands confirmed by this testing. We will now focus on this section as the primary reservoir in our upcoming exploration program on the western flank of the Lokichar Basin. We remain intrigued by the lower fractured reservoir and Lower Lokhone sands which will be further evaluated in future exploration. Our aggressive 2013 drilling program includes numerous high impact wells on trend with the Lokichar discoveries but also wells in new areas designed to open additional sub-basins in our large acreage portfolio.”
2,850 barrels per day is a bit of an anti-climax for me  , especially when this thread is titled "Estimated 71 Billion Barrels"... why won't they just give us an estimate of billions of barrels down there? The harder you work, the luckier you get
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Kryptonite this is twiga not ngamia, and thats just one well...more to go "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
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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kryptonite, they do actually give estimates, which are evaluated and reviewed regularly. You can find the brochures in their websites GOD BLESS YOUR LIFE
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Rank: Member Joined: 7/6/2010 Posts: 242
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2,850 barrels per day of crude from one well quite low , only consolation is that it is a pointer of oil prescence in the area. Most important thing is to struck oil and prove feasible deposits. To me the offshore Coast of Somalia and the next major oil hotspot.
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