RE:40 m DISCOVERED from 4th hole, Etuko? Right?I think the key to today's news is the fact that Keith Hill stated that we are now closer to "commercial-development"! This is what the big institutions want to hear, a lot of accumulation going on today with AOI:
Africa Oil chief executive officer Keith Hill commented: "We are very pleased with the results of the Ngamia-1 testing program which has confirmed the productivity of both the Lower Lokhone reservoir and the high-quality Auwerwer reservoir and significantly increased the net pay in the well. Ngamia is a world-class oil discovery and these results move us towards achieving the threshold for a commercial development in the Lokichar basin.
This encouragement has caused us to set in motion appraisal of the Ngamia-Twiga trend and to assemble a technical team to commence early development planning both for a large-scale pipeline development and an early development scheme. T
he Etuko discovery also opens up a new fairway on the eastern flank play in Lokichar where a number of other large-scale prospects have been identified.