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hisah
#511 Posted : Tuesday, October 23, 2012 4:25:54 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Africa Oil completes deal with Marathon Oil on Kenya blocks - http://news.xinhuanet.co...2-10/22/c_131922781.htm

Quote:
The Canadian oil and gas firm Africa Oil said on Monday it has completed an agreement with Marathon Oil to acquire an interest in two of Africa Oil's Kenyan exploration blocks.

Under the farmout agreement, Marathon Oil acquired a 50 percent interest in Block 9 and a 15 percent interest in Block 12A, both in the East African nation.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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jonna
#512 Posted : Thursday, October 25, 2012 10:56:03 PM
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Joined: 11/16/2011
Posts: 196
Location: united states of africa
Whats the current news on Africa Oil for those who are current with its progress. Is it true that the rig broke down while drilling the Twiga well or are testing the oil that they found there??
Energy.
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murchr
#513 Posted : Friday, October 26, 2012 2:46:21 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
jonna wrote:
Whats the current news on Africa Oil for those who are current with its progress. Is it true that the rig broke down while drilling the Twiga well or are testing the oil that they found there??


I think you have the latest that the rig broke down but has been repaired. Its speculated that it was an electric fault so there are those who are imagining that its the oil that did it smile Anyway the news that was to be tomorrow has now been post-poned for six days. If only the price can go lower.
"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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  | | Edit by user: Friday, October 26, 2012 2:53 AM | Reason: Not specified
hisah
#514 Posted : Friday, October 26, 2012 2:52:00 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
jonna wrote:
Whats the current news on Africa Oil for those who are current with its progress. Is it true that the rig broke down while drilling the Twiga well or are testing the oil that they found there??

Haven't heard about the rig breakage.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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jonna
#515 Posted : Friday, October 26, 2012 3:02:13 AM
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Joined: 11/16/2011
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Location: united states of africa
@Muchr
I already know of the former part but my sources indicate that they are testing the oil (commercial or non-commercial). They already found oil as per their objective.

@Hisah
I think NR about the broken rig is in Bloomberg.
Energy.
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murchr
#516 Posted : Friday, October 26, 2012 3:31:04 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
jonna wrote:
@Muchr
I already know of the former part but my sources indicate that they are testing the oil (commercial or non-commercial). They already found oil as per their objective.

@Hisah
I think NR about the broken rig is in Bloomberg.


Oook...they had said that they have to test Twiga b4 Ngamia. Now I understand. So did your source say if it was gushing?
"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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  | | Edit by user: Friday, October 26, 2012 3:42 AM | Reason: Not specified
hisah
#517 Posted : Friday, October 26, 2012 3:41:32 AM
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Joined: 8/4/2010
Posts: 8,977
jonna wrote:
@Muchr
I already know of the former part but my sources indicate that they are testing the oil (commercial or non-commercial). They already found oil as per their objective.

@Hisah
I think NR about the broken rig is in Bloomberg.

I'd rather wait for the Tullow SA conference next week going by the share price behaviour, Twiga might be on a net pay just like ngamia...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#518 Posted : Friday, October 26, 2012 3:48:46 AM
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Joined: 8/4/2010
Posts: 8,977
Kenya says explorers to start bidding rounds for oil blocks - http://af.reuters.com/ar...E89O01K20121025?sp=true

Uganda takes back oil block from Tullow, CNOOC and Total SA - http://af.reuters.com/ar...E8LOFEG20121024?sp=true

Afren to invest $120M in EA as oil race quickens - http://www.bloomberg.com...s-oil-race-quickens.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#519 Posted : Friday, October 26, 2012 3:52:52 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
hisah wrote:
jonna wrote:
@Muchr
I already know of the former part but my sources indicate that they are testing the oil (commercial or non-commercial). They already found oil as per their objective.

@Hisah
I think NR about the broken rig is in Bloomberg.

I'd rather wait for the Tullow SA conference next week going by the share price behaviour, Twiga might be on a net pay just like ngamia...


The news will be out by then
"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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jonna
#520 Posted : Friday, October 26, 2012 3:54:44 AM
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Joined: 11/16/2011
Posts: 196
Location: united states of africa
@Hisah
Look at AOI's chart days before and after they announced their Ngamia discovery.
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