Africa Oil Corp. T.AOI

Rift valley next to s.omo

[superoilhunter]

Repost from iii uk ... Now I understand why aoi gave tullow so much. ... If they find something good in s.omo , we hv 100% right next door on the rift!

Lets remember that whilst we (AOI) have reduced the working interest of the South Omo Block we still have 100% of the neighbouring block, Rift Valley Study Block, which is much bigger in comparison to South Omo (42,519 sqkm vs 30,688 sq km).

I expect news will arrive very soon regarding the Rift Valley Study Block and below is a post I made earlier regarding this topic -

I think we are due some news regarding the Rift Valley Study Block in Ethiopia as the previous agreement with the Government of Ethiopia expired in June 2012.

In December 2010, AOI signed a definitive agreement with the Government of Ethiopia to jointly study the Rift Valley Block. AOI committed to carry out an airborne geophysical survey over the Block which spans 42,519 square kilometers (gross). The Joint Study Agreement had an 18 month term, following which AOI have the exclusive right to enter into negotiations for a production sharing agreement for all or part of the Rift Valley Block.

AOI completed the acquisition of high resolution gravity and magnetic data over the Rift Valley Block in April 2011. Final processing and interpretation was anticipated to be completed during the Q3 of 2011 with the results enabling AOI to decide whether to commit to a further work program under a formal production sharing agreement.

After interpretation AOI has concluded that the Block is on trend with highly prospective blocks in the Tertiary rift valley such as South Omo block and Kenyan blocks 10BA, 10BB, 13T, and 12A. Therefore AOI has submitted an application to convert the Rift Valley Block to a formal production sharing agreement.

The links below are very interesting in relation to our recent Ngamia-1 discovery on Block 10BB in Kenya and our intentions in Ethiopia by drilling Sabisa-1 on the South Omo Block later this year and the application of a PSA for Ethiopia’s Rift Valley Study Block.

https://c335451.r51.cf1.rackcdn.com/astriumapr17.pdf

https://www.astrium.eads.net/en/

As I understand it, once the application of a PSA for Ethiopia’s Rift Valley Study Block is approved by the Government of Ethiopia AOI will hold the lions share of working interest along with a smaller percentage assigned to the Government of Ethiopia. When this is complete I would assume a farm-in partner is likely to be announced should AOI want it.

https://www.iii.co.uk/investment/detail?code=cotn%3AAOIFF&display=discussion&action=detail&id=9856682