RE:RE:RE:Presentation linkI posted some interesting points.
Africa Oil will survive,but will take longer to reach end goals.
Africa Oil has had a difficult year, but not suffering. Capital Gains Tax put on by Kenya, but understand, there is an appeal in June meetings and in September, when the writing of the new bill is to take place,and hopefully a reduction will come in by September.
There main goal this year to to not spend much money, and focus on getting the 675 Milion Barrels of oil from 3c to 2c. Kh said if they can prove half of that it would take them to 1 Billion Barrels of Oil.
Someone can add, to this, as I didn't understand the entire segment on this part.
Oil Price dropping hasn't helped and has seen this four times before,and believes a bottom could form in Second quarter
Third quarter, Oil will gain some
End of year we could see better oil prices.
Saudis are controlling the oil market he believes right now, but this can only last for so long, as Saudi;s Need to spend 40-50 Billion dollars a money, in order to maintain, there economy, and keep there peope happy,so he figures, they will only be able to do this for 5-6 months. Saudis can produce on $30.00 oil, but need $90.00 oil to survive.
Slight over supp;y in oil markets due to Usa shale, but this won't go on forever.
Africa Oil will be the lowest cost producer including pipeline and costs per barrel approx $13.00.
He mentioned Oil Sands as being number one,and second company I can't recall the country,but Africa Oil becomes lowest,cost producer because, of the problems 1 and 2 are having. Says Kenya has one of the best oil in the world.
Tullow will be reducing staff
Oil at a low price is also good, because oil companies,can have contractors reduce there prices.
He believes many small oil Companies will go Bankrupt,and this will be a good time to look at acquisitions,ESPECIALLY FOR HORN PETROLEUM. This is the time for companies that have money and no debt to go after smaller companies that have producing wells,Horn Petroleum, will benefit in this .Im Happy to hear about that part. lol
No Seismic needed in Kenya anymore.,
They have enough money til third quarter of 2015, Will not go into Debt.They will get farm ins or
12A Needs to be done, because of agreement with Marathon.
Kh having meeting with Kenyatta next week to discuss Capital Gains Tax.
Lundins will not allow or will stop if we ever had a takeover.
Africa Oil has very good backers, that hopefully, would not see this happen.
Africa Oil is also in a good place if a acqusition would come up, or a merger or farm out comes available,.
They won`t borrow money, and will not raise money with this low oil price. If they were very close to production, they would think about borrownd Pipeline planned for southern area is less violent. .Core Data is very good,Pipeline is very close to being finalized. Africa Oil will use least dillution where possible to raise funds, and it wont be with this low oil price., Mergers and farmouts,will be looked at.
I think they had 6 questions, I wrote them down, but I think the magority was answered in my summary. I liked the part about Horn, as I believe many here own both stocks.
Good Night