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Estimated 71 Billion Barrels...
Rank: Elder Joined: 7/11/2012 Posts: 5,222
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hisah wrote:Parabolic then selling bout phase complete. Next a retest of 10 level then new highs. Hope people took the discounts served at 6-7 levels.  @nabwire - did u board the bus at that stop... Better late than never,no?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"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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http://africaoilcorp.mwn...-aoi-201310280907262001
Quote:
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2013)
Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to announce that it has closed the US$450,000,000 brokered private placement, previously announced on October 16, 2013. An aggregate of 56,505,217 common shares, issued at a price of SEK 51.75 (Cdn $8.25(1) equivalent) per share for gross proceeds of SEK 2,924,144,980, or US $450,000,000 equivalent, (the "Offering") have been released to investors.
So we have a floor is 8.25.
$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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http://www.africaoilcorp...-East-Africa-Nov2013.pdf"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: Elder Joined: 2/26/2012 Posts: 15,980
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From the grape vine Quote:Here’s brief summary of AOI meeting yesterday, new one will be held today and tonight. Apoligize for lack of structure.
Key points
Agete loggad (=oil contact)
Early production plan skipped
Change of listing not before year end
Agete <$20m drilling cost, aiming to keep that
More:
AOI 20-35% interest to keep when taking in partner, end 2014/mid 2015
KH promoted particularly Tertiary Basins – a bit downplay of Cretaceous, dont know if bad for Bahasi
1week/10 days to Amosing spud
Agete - announce results by end of month – passed sweetspot (upper Auerwer Sands), logged which means oil contact but not clear whether commercial, Agete will be 1st result to be announced
<$20m Agete drilling cost (ex halt), aiming to keep that, wich would be fantastic
Agete/Twiga – possibly interconnected, nothing that separates the two wells right now, if common pressure gradient then possibly interconnected
Tultule results in 2-3 weeks
Rift Valley Basin -met farmer last week that complained as he was drilling wells for water he kept getting oil/kerosene stuff in the water, good sign but early sign
Rift Valley Basin – 50% AOI 50% MRO, MRO pays 100% costs, AOI operator during exploration and MRO operator during development phase, 1st spud end 2014,
South Kerio starts looking more and more like Lokichar, similar string of pearls structure and size as Lokichar
Pipeline – GoK says first oil 2017 (incidentally one week before election), AOI says 2018, TLW says 2019
1/3 of all wells next year appraisal wells
Early production plan skipped, GoK to pay $150m för road infrastructure, that was probabaly what stopped it, no big deal for AOI though
Now 4-5 basins that are Lokichar look alikes
Etuko new well to test zones close to surface, Marriott, then Ewoi
Twiga fracking pay zone now 800m, earlier 700m (on top of conventional oil)
Listchange to Toronto as well, but not pre new year http://www.businessdaily...4/-/jf2uqp/-/index.html
http://www.businessdaily...10/-/58ao10/-/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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Agete is 5th hit for Tullow - http://www.businessdaily...4/-/jf2uqp/-/index.html
Weird, this newsflash at the moment is only on biz daily... $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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Weird no email from them....and looks like the Energy CS is the one who broke the news...could be the gov wants to control information...  "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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murchr wrote:Weird no email from them....and looks like the Energy CS is the one who broke the news...could be the gov wants to control information... For what benefit to gok?$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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hisah wrote:murchr wrote:Weird no email from them....and looks like the Energy CS is the one who broke the news...could be the gov wants to control information... For what benefit to gok? Manage expectations "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: 8/3/2007 Posts: 146
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murchr wrote:hisah wrote:murchr wrote:Weird no email from them....and looks like the Energy CS is the one who broke the news...could be the gov wants to control information... For what benefit to gok? Manage expectations Thought that was what they agreed with all announcements.. It was in the news sometime back that the govt should be notified 2 weeks or something b4 media briefing.. It's also important to avoid premature announcements like the Kwale discovery 
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