GREY:SMBZF - Post by User
Post by
blackredon May 15, 2012 5:29pm
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Post# 19912658
Energyhunter
Energyhunter We can all be thinking along those lines.
There is no smoke without fire ;-). Firstly Tullow like you say have an excellent track record. Tullow also have a very good policy of letting junior companies work with them ie farm ins, some examples across the Atlantic are Solo oil, Aminex, Wessex exploration who have all farmed in with Tullow recently. On the west coast they have partnered some of the majors.. Solos market cap is 12.5 miillion GBP and they partnered Aminex and Tullow offshore Tanzania. Another advantage with a farm in is that you derisk yourself.
Chariotoil LSE hit a duster yetserday offshore Nambia. 1st drill on its first well, the stock tanked 60%. Now if they would have split the risk with 1 or 2 farm ins then the picture wouldnt have been as bleak. Their CPR suggests 20 billion boe offshore Namibia across 5 blocks. Tullow however always work with a partner or partners. 75% success rate is excellent. i think they know Africa better than anyone.
Remeber Centric Energy was taken out for 65 cents, and they had around 100 million shares in issue by AOI. Look carefully at our properties in comparison to AOI Kenya has changed the game but when I did my research I could swear that Simbas acerage was just as good if not better purely because West Africa was littered with oil and oil seeps on our acerage. All we need is our PSAs in Liberia and Guniea and work completed on these properties and I think we could be taken out within the next 6 -9 months. I cannot wait for the CPR in Kenya because Afren and Vanoils Sproule report was done without AOis/Tullows discovery. Now there is an elephant in Kenya we will see some lage numbers across 3 basins with oil seeps and a flat spot similar to what Tullow/AOi encountered their elephant. Remember Its JD who went into the data rooms and he chooses the blocks. With 20+years at Exxon at senior oil expolration level and some massive finds inc 2 elephants I think we have a very good chance. Remeber they never had the technology we have now which makes it a bit easier.