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Estimated 71 Billion Barrels...
Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Link - http://subseaworldnews.c...-survey-offshore-kenya/
By Q2 2013 drilling starts on the new blocks. The news will be after elections.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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More capital calls for EA oil/gas ventures continue... www.theeastafrican.co.ke...50/-/sutkvc/-/index.html$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Quote:Total Chief Executive Officer Christophe de Margerie has pledged to step up the search for oil and gas while at the same time buying and selling assets to boost output and curb exposure to European refining. The strategy has seen Total move into so- called frontier nations including French Guiana and Kenya, while continuing to invest in large production projects in Kazakhstan, Canada and Australia, where high costs have weighed on returns. http://www.bloomberg.com...ank-of-america-says.html$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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Quote:We met Tullow Oil management yesterday afternoon who provided some colour on recent developments but nothing materially new. That said, it is worth highlighting that in the exploration programme, management considers that the Twiga-1 well onshore Kenya is better placed than Ngamia-1, as it was sited after full interpretation of FTG data - results out late October. Interestingly, post-drill tests were not conducted at Ngamia-1 because the required equipment was not in the country and could not be deployed to the site quick enough. Should Twiga-1 prove successful, with equipment now on site, it will be tested first, before the rig returns to Ngamia-1. http://www.rte.ie/news/b...load/2012/0926dolmen.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: 12/11/2008 Posts: 2,306
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[quote=murchr] Quote:We met Tullow Oil management yesterday afternoon who provided some colour on recent developments but nothing materially new. That said, it is worth highlighting that in the exploration programme, management considers that the Twiga-1 well onshore Kenya is better placed than Ngamia-1, as it was sited after full interpretation of FTG data - results out late October. Interestingly, post-drill tests were not conducted at Ngamia-1 because the required equipment was not in the country and could not be deployed to the site quick enough. Should Twiga-1 prove successful, with equipment now on site, it will be tested first, before the rig returns to Ngamia-1. http://www.rte.ie/news/b...oad/2012/0926dolmen.pdf[/quote] Hmmm!, interesting point on UG. M7 has for eons insisted that all his oil be refined locally so he can export to .ke It seems he is now coming around to seeing sense in refining just enough for domestic use and exporting the rest via Kenya Great men are not always wise, neither do the aged understand judgement...
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Rank: Elder Joined: 10/4/2006 Posts: 13,823 Location: Nairobi
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Robinhood wrote:[quote=murchr] Quote:We met Tullow Oil management yesterday afternoon who provided some colour on recent developments but nothing materially new. That said, it is worth highlighting that in the exploration programme, management considers that the Twiga-1 well onshore Kenya is better placed than Ngamia-1, as it was sited after full interpretation of FTG data - results out late October. Interestingly, post-drill tests were not conducted at Ngamia-1 because the required equipment was not in the country and could not be deployed to the site quick enough. Should Twiga-1 prove successful, with equipment now on site, it will be tested first, before the rig returns to Ngamia-1. http://www.rte.ie/news/b...oad/2012/0926dolmen.pdf[/quote] Hmmm!, interesting point on UG. M7 has for eons insisted that all his oil be refined locally so he can export to .ke It seems he is now coming around to seeing sense in refining just enough for domestic use and exporting the rest via Kenya M7 has a responsibility to the UG people not kenyans. All Mushrooms are edible! Some Mushroom are only edible ONCE!
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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("Africa Oil" or the "Company") is pleased to announce the spudding in Kenya of the Paipai-1 exploration well located in onshore Block 10A, on September 29, 2012. The well is planned to drill to a total depth of 4,112 meters and will test Cretaceous and Jurassic sandstone targets. The well is operated by Tullow Oil plc ("Tullow") who hold a 50% working interest. Africa Oil holds a 30% working interest in the Block. The Paipai-1 will be drilled using the Sakson PR-5 rig and is targeting gross best estimated prospective resources of 121 million barrels by the Company''s independent resource evaluator. http://finance.yahoo.com...-paipai-1-060000491.html
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Rank: Member Joined: 3/15/2009 Posts: 362
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Another LinkGood news, so in another two months we will know exactly how large this oil reservoir is. 
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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I'm surprised Murchr is not all over this!!! October has started well, lets wait and see
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Nabwire wrote:I'm surprised Murchr is not all over this!!! October has started well, lets wait and see  I saw it, but its been one of those days. Good news indeed, hopefully the end of the month will be a party. Is this the one they partly sold to Marathon? I read they own 30% interest and yet Tullow owns 50%? "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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