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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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