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Estimated 71 Billion Barrels...
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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Boris Boyka wrote:murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Isn't that what they are doing exactly? Are they advisors or investors?
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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mkeiy wrote:Boris Boyka wrote:murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Isn't that what they are doing exactly? Are they advisors or investors? "sound advise" it is. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. It's a listed company. how else would you expect them to push up the share price?
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. It's a listed company. how else would you expect them to push up the share price?
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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This graph is very important, I hope someone in gava has seen it (or understands it). Kenya's exploration is significant enough to be included in the world maps of oil frontiers, but more importantly, Kenyan explorations are the the cheapest in the world @ below Usd 30 per barrel. Our Turkana fields are still very viable and anyone who understands the Mzungu phsych should be able to read that from their body language and attitude towards Kenya of late. They have analysed the oil impact on our economy and have concluded that it can only be positive hence the platitudes etc, "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Obi 1 Kanobi wrote:This graph is very important, I hope someone in gava has seen it (or understands it). Kenya's exploration is significant enough to be included in the world maps of oil frontiers, but more importantly, Kenyan explorations are the the cheapest in the world @ below Usd 30 per barrel. Our Turkana fields are still very viable and anyone who understands the Mzungu phsych should be able to read that from their body language and attitude towards Kenya of late. They have analysed the oil impact on our economy and have concluded that it can only be positive hence the platitudes etc, Ati Tony Blair wants to be Jubilees adviser on projects, almost every publication be it the economist, WSJ and FT are featuring Kenya as a "Frontier" 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: Elder Joined: 2/26/2012 Posts: 15,980
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Kenya proposes rules to require local stake in oil exploration firmsReuters wrote:By George Obulutsa
NAIROBI, April 30 (Reuters) - Kenya has proposed rules requiring oil exploration firms to give local investors a 5 percent stake and use local suppliers and staff for their services to get a bigger share of earnings from the new sector.
East Africa has become a hot spot for oil and gas exploration in recent years, spurred by new finds, but Kenya has yet to update its legal framework for the sector.
Tullow Oil and Africa Oil have estimated discoveries of 600 million barrels to the northwest of Kenya, and plan to submit their development plans to the government by late 2015 prior to commercial production.
The rules are expected to be passed by parliament by August along with a revised petroleum bill, said Ministry of Petroleum and Energy Principal Secretary Joseph Njoroge.
"It is to encourage utilisation of local resources, equipment, whatever is available locally must take precedence over foreign, mostly the human capital, (which) we have a lot," Njoroge told Reuters.
Oil industry analysts and observers say the law will be a boon for local companies and workers in the near-term, but that there would be need for programmes to expand capacity if Kenyans were to meet all the laid out requirements in the regulations. "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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@hisah, What's your take on this? [url=http://www.businessdailyafrica.com/Helios-buys-Africa-Oil-stake-after-Equity-Bank-stock-sale--/-/539552/2707140/-/yogspp/-/index.html wrote:Business Daily]Helios Investment Partners, which last month completed selling half its stake in Equity Bank, has taken a 12.4 per cent stake worth Sh9.5 billion ($100 million) in Africa Oil Corporation.
It will effect the buying allowing it to nominate a non-executive director through one of its investment vehicles, Stampede Natural Resources.
The investment in the oil exploration firm is expected to boost capital for drilling work in northern Kenya. "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:@hisah, What's your take on this? [url=http://www.businessdailyafrica.com/Helios-buys-Africa-Oil-stake-after-Equity-Bank-stock-sale--/-/539552/2707140/-/yogspp/-/index.html wrote:Business Daily]Helios Investment Partners, which last month completed selling half its stake in Equity Bank, has taken a 12.4 per cent stake worth Sh9.5 billion ($100 million) in Africa Oil Corporation.
It will effect the buying allowing it to nominate a non-executive director through one of its investment vehicles, Stampede Natural Resources.
The investment in the oil exploration firm is expected to boost capital for drilling work in northern Kenya. Fantastic news. Since the oil plunge episode mr market has cratered afol and tullow stock prices as well as other global oil sector equities. Happy times buying these fat tails for long term keeps $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Estimated 71 Billion Barrels...
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