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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery, offshore Namibia, and an exploration/appraisal portfolio in west and south of Africa. The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies, including Prime Oil & Gas Cooperatief U.A. (Prime); Impact Oil and Gas Limited (Impact); Africa Energy Corp. (Africa Energy), and Eco (Atlantic) Oil & Gas Limited (Eco). The Company is focused on its Nigerian assets, Namibian Orange Basin opportunity set (Blocks 2913B and 2912), Block 3B/4B in South Africa's Orange Basin, and Equatorial Guinean exploration blocks (EG-18 and EG-31). The Block 3B/4B covers an area of approximately 17,581 square kilometers (km2) within the Orange Basin offshore of the Republic of South Africa. The Company has approximately 17% interest in Block 3B/4B.


TSX:AOI - Post by User

Bullboard Posts
Post by kentoon Mar 02, 2012 6:57pm
756 Views
Post# 19620808

Oil ---Positive results

Oil ---Positive results

 

Canadian firm Africa Oil has discovered huge oil deposits in Puntland Somalia.

Drilling in Puntland by the Canadian firm Africa Oil began last month and pipes to pipe the crude have been laid in what seems to be a well planned process.

Kenya defense forces helped British and Americans find Somalia a lucrative destination for oil exploration and export companies hence the scramble for a piece of the Somali pie.

Huge oil discoveries have been made in Somalia promising huge returns and economic returns for Somalia.

The West’s insatiable desire for oil continues to guide it to manage conflicts and Somalia has become so tempting that investing military and monetarily is worth the risk.

An oil rich Somalia is good for the US and Britain, it promises hefty returns regardless of the costs.

British Special Forces will be sent in Somalia to hunt down Al-Shabaab commanders and help crush the leadership of the terrorist organization that has ruled Somalia with an iron fist.

United States has pledge millions of dollars to facilitate rehabilitation and reconstruction of Somalia as more freebies come the Somali way.

However, this scramble for Somalia is hardly in response to the peace building efforts initiated by Kenya Defense Forces that have assailed months of battle in the Southern strongholds of the militants.

Its the promise of oil and huge fiscal returns from investing in Somali and its oil that has sent the West scrambling and pledging peace, support, and money to the Somali and those trying to bring peace.

Bullboard Posts