AOI Valuation Just noticed African Oil is now valued at $1.8 billion market cap due to recent discovery in Kenya. Note that these discoveries have not proven to be commercial as yet but AOI is already at $1.8 billion. Also, their total Prospective resources from 7 different prospects is 5.3 billion barrels of oil. Now compare that to EOG that has 6.3 billion barrels of oil prospective resources on 2 prospects.
Now if you are going to have so much oil, wouldn't you want it in a safe country? Kenya is certainly not considered one of the safe African countries for investors yet AOI already at $1.8 billion with no confirmation of commercial viability on those discoveries. Remember this article from March on West Africa (Eastern Africa with countries such as Somalia and Kenya is no comparison to West Africa):
https://seekingalpha.com/article/446261-the-commodity-investor-ghana-namibia-offer-easier-access-to-west-africa-s-oil-industry
"For investors seeking exposure to Western African oil without the high risk of social unrest and political violence, I recommend getting exposure to the following countries: Ghana and Namibia."
"Namibia may become West Africa’s most prolific oil producer"