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Estimated 71 Billion Barrels...
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Nabwire wrote:youcan'tstopusnow wrote:Nabwire, it is proving very hard for Simba to get a Joint Venture with no new data for their blocks. So it seems they will have to undertake a 2D Seismic. This costs money, which they don't have. It's a tough market for juniors everywhere to access credit, so the already depressed share price MAY have to contend with a very dilutive private placement. Drilling also seems slated for late 2013 or early 2014.
On AOI, testing operations at Ngamia-1 commenced.
That is so depressing, the opportunity cost for waiting for them to figure out how and when they will get the money. 2014 is far! Thanks though Simba's been making new lows over the past week... GOD BLESS YOUR LIFE
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Rank: New-farer Joined: 1/31/2013 Posts: 21
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youcan'tstopusnow wrote:ekahindi, try Saxomarkets or Penn Trade
@ekahindi were you successfully in acquiring information from the above traders? I am also interested and would be glad if you or any other person could highlight the fees and requirements of engagement.... email ggkinuthia /at/ gmail
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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quadc wrote:youcan'tstopusnow wrote:ekahindi, try Saxomarkets or Penn Trade
@ekahindi were you successfully in acquiring information from the above traders? I am also interested and would be glad if you or any other person could highlight the fees and requirements of engagement.... email ggkinuthia /at/ gmail Last time I checked - PennTrade 500 Dollars and Saxomarkets 2000 Pounds http://www.penntrade.com/nac.html
http://uk.saxomarkets.com/stocks/
GOD BLESS YOUR LIFE
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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youcan'tstopusnow wrote:Nabwire wrote:youcan'tstopusnow wrote:Nabwire, it is proving very hard for Simba to get a Joint Venture with no new data for their blocks. So it seems they will have to undertake a 2D Seismic. This costs money, which they don't have. It's a tough market for juniors everywhere to access credit, so the already depressed share price MAY have to contend with a very dilutive private placement. Drilling also seems slated for late 2013 or early 2014.
On AOI, testing operations at Ngamia-1 commenced.
That is so depressing, the opportunity cost for waiting for them to figure out how and when they will get the money. 2014 is far! Thanks though Simba's been making new lows over the past week... I cant wait to be out of this stock, this is truly the house of pain!
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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So apparently Marathon oil's block 9 is next to Simba's block 2A, so what I should do is watch Marathon oil, if there is oil in that region then Simba should be bought out and I cash out.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Quote:AFRICA OIL ANNOUNCES ADDITION TO MANAGEMENT TEAM
April 16, 2013 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that effective May 1, 2013, Mr. Mark Dingley will join the Company as President of Africa Oil Ethiopia B.V. and Chief Operating Officer of Horn Petroleum Corporation (“Horn”). Africa Oil holds an approximate 45% equity interest in Horn and provides the management of the business. Mr. Dingley will be based out of the Company’s Addis Ababa office.
Mr. Dingley has 14 years of oil industry experience including 12 years with Talisman Energy Inc. where he served as Vice President, Middle East Operations as well as General Manager, Peru; Manager, Corporate Security & Surface Risk; and Manager, Government Affairs & Deputy General Manager, Sudan. Prior to entering the oil industry Mark spent 4 years working in the mining industry in various locations through Africa and he also served in the British Military for 12 years. His education includes both Bachelors and Masters degrees in Law from Canterbury, UK and he has also completed an Executive MBA at Harvard Business School. Mark was born and educated in Kenya.
Mr. Keith Hill, President and CEO of Africa Oil, commented, “We are very pleased to have been able to attract Mark to our organization and his skill set will be of great benefit to the Company as we commence operations in Ethiopia and move to conduct further operations in Somalia through Horn. Mark has extensive experience and knowledge throughout Africa which will assist us as we look to expand our operations in the region.”
The Company also announces that it has granted an aggregate of 5,673,500 incentive stock options to certain officers, directors, and other eligible persons of the Company. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $5.94 per share. Sabisa seems to be gooood "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: 11/21/2006 Posts: 1,590
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Sold my remaining portion of Africa Oil today. Will try and re-enter at $3 in June or July. Price of oil might go lower given China is targeting lower growth; US is flat and Europe is cloudcuckoo land. I also realised that as Tullow calls the shorts,my $12.80 target is at least some 18 months away. Even if I never re-enter, its been my most profitable share trade since 2008. Thanks again Hisah. Goat still awaits-you never responded to em. I have already use the thenge to breed some other two goats √ Sehemu ndio nyumba
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Wasn't that a wrong move? You sold at its lows, unless you have been selling from the $11 highs? Just wondering aloud.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Mainat wrote:Sold my remaining portion of Africa Oil today. Will try and re-enter at $3 in June or July. Price of oil might go lower given China is targeting lower growth; US is flat and Europe is cloudcuckoo land. I also realised that as Tullow calls the shorts,my $12.80 target is at least some 18 months away.
Even if I never re-enter, its been my most profitable share trade since 2008. Thanks again Hisah. Goat still awaits-you never responded to em. I have already use the thenge to breed some other two goats √ No worries about the goat
With oil taking it in the chin just like most commodos, commodo firms are also feeling the storm. If AOI gets to $3 or lower, the market will be dealing very fat discounts. Even now the discount is welcome
update - forgot to mention that GS is now onto AOI. I don't like this squid in my trades and loath them with a passion for their shitty deals to clients. So those trying to dive in now proceed with caution.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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I sold 60%+ of my shares at $10.60 last year so my average exit price is around $8 against a low entry point. As per above,I expect Africa Oil to go lower and I can re-enter then. Also do note that upside post private placement is lower. The other reasons for selling is that I was amazed that having bought the kathing at almost penny stock level and held, AOI did a private placement without even giving all investors a chance to participate.The hatred of PIs in the West just amazes. Finally, the strengthening shilling vs $ € and £ is forcing me to reconsider what portion of my investments I hold in those currencies. Nabwire wrote:Wasn't that a wrong move? You sold at its lows, unless you have been selling from the $11 highs? Just wondering aloud. Sehemu ndio nyumba
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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That private placement got a number pissed off. But this is what strengthened my consideration that a lot is at stake for the placement to be done by a chosen few... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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hisah, I'm fine as long as the drill keeps running. Keep on making new discoveries and opening up new basins as they also continue derisking the Lokichar Basin. Explorers move on news. The one and a half month delay no doubt disheartened some. But delays in this line of business are nothing unprecedented. GOD BLESS YOUR LIFE
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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hisah wrote:That private placement got a number pissed off. But this is what strengthened my consideration that a lot is at stake for the placement to be done by a chosen few... Note that KH also declined an extra $200m for the PP. This points to the fact that he was not happy with the $7.75 price. GOD BLESS YOUR LIFE
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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youcan'tstopusnow wrote:hisah wrote:That private placement got a number pissed off. But this is what strengthened my consideration that a lot is at stake for the placement to be done by a chosen few... Note that KH also declined an extra $200m for the PP. This points to the fact that he was not happy with the $7.75 price. It was a 20%+ dilution from the $9.5-10.5 range that share was trading at prePP. Youcant- the drills will continue for a while, but the key call which will move the price past $8 will be whether Tullow deems the project commercially viable once either a pipeline or other transportation costs are factored. Otherwise, the dream for AOI investors is for a major Oiler to buy out AOI Sehemu ndio nyumba
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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It's only been a year since Ngamia was dicovered. Uganda first made a hit in Jan 2006. An 'Integrated Project Team' was only established in Feb 2009 as "commercial threshold for development (was) exceeded". Granted, Kenya should take less time as threshold is lower. In the mean time: Drill Baby Drill!On price, the market has a mind of its own. GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Did someone let the cat out - http://www.businessdaily...2/-/d7snd0/-/index.html Quote:Kenya is likely to start producing oil in six to seven years, the International Monetary Fund (IMF) has projected. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 4/25/2012 Posts: 110
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That is sooner than I expected. The cat is out I think, just wondering what this means for KK and TOTAL going forward. I need to verse myself with any export regulations, if already drafted, involved in the Kenyan oil. There is nothing as dangerous as an Idea, when there is only one Idea
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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2,812 bpd??who is fooling who,?was it 281 communicated or i read a wrong article? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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East Africa's 'embarrassment of riches' in energy http://www.upi.com/Busin...rgy/UPI-37341367514714/
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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From Tullow: Our high impact exploration campaign continues across Kenya and Ethiopia, with significant ongoing seismic operations, three active rigs and a further rig contracted to start activities in September 2013. In the remainder of 2013 we plan to acquire 2D and 3D seismic, drill a further seven wells and perform significant testing operations. In Kenya, the Paipai-1 well was drilled in March 2013 and encountered light hydrocarbon shows whilst drilling and has been suspended pending agreement on future evaluation options. The testing of the Twiga South-1 discovery was completed in February 2013; a constrained combined rate of 2,812 bopd was achieved and has the potential to be increased to an unconstrained rate of over 5,000 bopd. Testing at the Ngamia-1 discovery is still in progress and the first test, from a zone previously considered to be non-productive and not included in previous estimates of net pay, flowed at a cumulative rate of 281 bopd. A further five tests are planned over the next month and are expected to lead to an increase in the previous total net pay of 100 metres. The test results to date on Twiga South and Ngamia are extremely encouraging for the Lockichar Basin and are important steps towards understanding the commerciality of these discoveries and the overall potential of the basin. The next exploration well is Etuko-1, which is expected to spud within the next two weeks. This well is testing the first prospect in the Basin Flank play, and is more centrally located in the basin compared to Ngamia and Twiga South which were drilled along the basin bounding fault. A lighter, more mobile rig has been contracted to start work in September 2013 which will primarily be used to increase drilling efficiency by conducting testing operations and drilling shallow prospects and evaluation wells. The first exploration well in Ethiopia, Sabisa-1 has been drilled to a total depth of 1,810 metres, recording hydrocarbon indications in sands beneath a thick claystone top seal. Due to hole instability issues, a sidetrack will be drilled to enable us to log and sample the zones of interest, with a result expected in late May 2013. Seismic activity has included an extensive survey in Block 10BB/North West Block 12A in Kenya and 1,174 km 2D seismic has been acquired over the Chew Bahir basin in the South Omo block in Ethiopia. Both surveys have identified numerous attractive leads and prospects, some with amplitude anomalies characteristic of hydrocarbons, raising the total prospect and lead count in the acreage to over 120. DRILL BABY DRILLGOD BLESS YOUR LIFE
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