AOI has been on a downtrend this past week. What do the charts say on impending price action?

PAIPAI-1 WELL TEMPORARILY SUSPENDED
FOR FUTURE EVALUATION

March 1, 2013 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or “the Company”) announces the temporary suspension of the Paipai-1 exploration well in Kenya for ongoing evaluation.
The well, located in the Marsabit County of Kenya Block 10A, was drilled to a total depth of 4,255 metres and successfully logged. The well was drilled to evaluate a large structural closure of Cretaceous age in the Anza Basin.

Light hydrocarbon shows were encountered while drilling a 55 metre thick gross sandstone interval. This sandstone is overlain by a 200 metre thick Cretaceous source rock which forms an effective regional top seal and yielded oil and gas shows throughout the section while drilling. Attempts to sample reservoir fluids were unsuccessful and the hydrocarbons encountered while drilling were not recovered to surface. It was not possible to test the well at this time due to the unavailability in country of testing equipment capable of handling the higher reservoir pressures encountered at this depth. The well has consequently been temporarily suspended pending further data evaluation.

After suspension operations have been concluded at Paipai, the rig will move to the South Lokichar Basin in Block 10BB and drill the Etuko prospect in the undrilled basin flank play. The move is expected to take 3 months.

Tullow has a 50% operated interest in the Paipai-1 well, Block 10A, with Africa Oil holding 30% and Afren holding the remaining 20%.

Keith Hill, President and CEO, commented, “We are very encouraged by the results of the Paipai well which appears to demonstrate a working petroleum system and indicates that the Anza Basin has the makings of a viable Cretaceous hydrocarbon play. This result has positive implications not only for our Block 10A acreage, but also in Block 9 where we are preparing to drill a similar, albeit shallower, prospect with our partner Marathon. If this result is confirmed by testing, it would be a strong addition to our already proven Tertiary rift play to the west."

Hisah now I fully believe its up 11% I guess they just wanted to verify that Kenya is a capitalist not communist state

Jonna what are your reasons for a Zogenix buy? Is this the same drug company you recommended a while back? How has it done so far? I just dont like companies that depend on FDA backing.

is this lie some form of aspirin What you mean by that??

REMS: It simply stands for Risk Evaluation and Mitigation Strategies and its purpose is to ensure that certain opioids aren't easy to abuse.

I'll be telling after cashing in.