Antrim Energy Inc. ATGYF

Tanzania remarks by Premier

[Bigbadoil]

from todays Globe and mail:

Oil and gas companies have flocked to East Africa in recent years, spurred by high oil prices, advances in deepwater drilling and difficulties in securing access to reserves in areas historically seen as more prospective, such as the Middle East.

Drilling is progressing in Tanzania, Madagascar and Kenya, and explorers expect more big gas finds.

“If it gets to where we think it’s going to go, there will be LNG plants in at least two positions along the coastline,” said Andrew Lodge, exploration director at Premier Oil PLC , which is exploring offshore Kenya.

Although the area is seen as predominantly gas rich, companies are also hoping for oil discoveries. Mr. Lodge noted that oil seeps were evident on the Tanzanian Island of Pemba.

The recent discoveries have also boosted hopes for development across the region, potentially paving the way for heavy, energy-intensive industry to spring up in impoverished Mozambique and Tanzania.


Guess who owns the acreage over the Pemba oil seep?

Bigbadun'