Wazua
»
Investor
»
Economy
»
Estimated 71 Billion Barrels...
Rank: Elder Joined: 11/7/2007 Posts: 2,182
|
Indeed lets hope the technocrates are watching, as the events unfold. LOVE WHAT YOU DO, DO WHAT YOU LOVE.
|
|
|
Rank: Chief Joined: 8/4/2010 Posts: 8,977
|
Cde Monomotapa wrote:youcan'tstopusnow wrote:When Ghana struck oil in 2007, citizens expected the industry would bring them better lives and investors anticipated hefty profits from a rising African economic star. Six years later, all of them are complaining. Lower-than-expected production from the offshore Jubilee field and funding a costly presidential election process in 2012 have left the West African nation struggling to deliver promised development projects while keeping its finances in order. http://reuters.com/artic...N0CP35Z20130409?irpc=43
Thanks for bringing this up. I've always wondered silently why Ghana's 'fortune' hasn't even shown on its ccy. So where's the FX being banked/taken? Expected something similar to the Botswana Pula when the diamond revenues came online. I concur with @kryptonite in hoping [  ]that our technocrats, & indeed in the whole EAC, are learning. UG is likely one up next. Have a look at their total debt drastic fall in the last 4yrs. Paying up the debt is were that FX is going. The cedi will become muscular very soon. It's one of the ccys I have been following keenly like a discounted quality equity share 
Something else to note. Cocoa like oil & other commodos have been getting hammered in 2013 with cotton being the odd sister (rallying hard). Ghana exports oil & cocoa - depressed prices = depressed export income which will affect GDP figures.
Isn't econs easy or what 
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
|
|
|
Rank: Chief Joined: 1/13/2011 Posts: 5,964
|
Cheers at @hisah for such a credible explanation & lesson. If I were a child, I'd stop crying pronto  . Been keen on Ghana too to learn ahead & refine my UG strategy. Though Cde M7 is leaving no stone unturned, very keen on getting it right from day 1. Downside? Fatigue. That cotton rally's good news for maShonaland too, thanks We're fortunate in SSA right now enjoying both Investment & Consumer growth, thus, even when exports may falter we still book strong GDP figures. (RSA being exception no. 1)
|
|
|
Rank: Member Joined: 8/16/2012 Posts: 661
|
Wish this could somehow be posted at the start of the thread. Quite a nice feature on the history of the oil market industry. LINK: The Secret of the Seven SistersLive and learn; and don’t forget, nothing ventured, nothing gained.
|
|
|
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
|
Tullow Oil East Africa Operational
UpdateThe Sabisa-1 well in the South Omo Block in Southern Ethiopia has been drilled to a total depth of 1,810 metres. Hydrocarbon indications in sands beneath a thick claystone top seal have been recorded whilst drilling, but hole instability issues have required the drilling of a sidetrack to comprehensively log and sample these zones of interest. The sidetrack recently commenced and a result is now expected in late May. At the Ngamia-1 well in Block 10BB in Kenya, the first of six drill stem tests has now been completed. The test was carried out in the Lower Lokhone formation. The well flowed 281 barrels of 30 degree API oil per day using a Progressive Cavity Pump. Etuko to be drilled during first half of May http://www.tullowoil.com...geid=137&newsid=838
GOD BLESS YOUR LIFE
|
|
|
Rank: Elder Joined: 11/7/2007 Posts: 2,182
|
Uganda agrees to refine 30,000 bpd with total cncooc, liquid gold!! LOVE WHAT YOU DO, DO WHAT YOU LOVE.
|
|
|
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
|
kyt wrote:Uganda agrees to refine 30,000 bpd with total cncooc, liquid gold!! http://www.4-traders.com...Over-Refinery-16686601/
GOD BLESS YOUR LIFE
|
|
|
Rank: Chief Joined: 8/4/2010 Posts: 8,977
|
With commodities getting hammered mercilessly very nice discounts are coming up on commodity firms. AOI is down 10% plus today. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
CP from another site Quote:Great news today. I don't think the retail audience has it figured out yet, but here's what I see.
Ngamia tested 281 bpd in one of six zones, and the testing was done with "constrained" pumps. API 30 degrees. Nice. Ngamia should, by itself, be commercial, but certainly, when added to Twiga and the other wells we are drilling in 2013, this smells completely commercial to me.
Sabisa (Ethiopia )looks like a winner too. Early seeps were our first clue. This has now been enhanced with confirmed DHIs and the geology is now tagged as a working petroleum system. Before this news, I was a little hesitant that Sabisa would work for us, but I'm now persuaded that it's going to come in big.
In any event, Sabisa should remain on my thoughtpad as simply icing on the cake. KH has recently told us that the Locichar Basin, proved up, would drive our sp up to 20 bucks a share.
All looks good to me. "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
.
|
|
|
Rank: Chief Joined: 8/4/2010 Posts: 8,977
|
murchr wrote:CP from another site Quote:Great news today. I don't think the retail audience has it figured out yet, but here's what I see.
Ngamia tested 281 bpd in one of six zones, and the testing was done with "constrained" pumps. API 30 degrees. Nice. Ngamia should, by itself, be commercial, but certainly, when added to Twiga and the other wells we are drilling in 2013, this smells completely commercial to me.
Sabisa (Ethiopia )looks like a winner too. Early seeps were our first clue. This has now been enhanced with confirmed DHIs and the geology is now tagged as a working petroleum system. Before this news, I was a little hesitant that Sabisa would work for us, but I'm now persuaded that it's going to come in big.
In any event, Sabisa should remain on my thoughtpad as simply icing on the cake. KH has recently told us that the Locichar Basin, proved up, would drive our sp up to 20 bucks a share.
All looks good to me. Shhh... Wewe hutaki fat discounts $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
|
|
|
Wazua
»
Investor
»
Economy
»
Estimated 71 Billion Barrels...
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|