Africa Oil Corp. T.AOI

Alternate Symbol(s): AOIFF

Energy Oil & Gas E&P

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.

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Africa Oil Corp.

Bullboard Posts

Comment by paljoeyon Mar 27, 2012 1:44pm

324 Views

Post# 19723658

RE: RE: RE: RE: Question Depth size

20 m of net pay is too little to extrapolate rerservoir size.

Of course, with adequate seismic info, the poterntial size can be estimated.

Occidental penetrated 600 m of pay in 2001 in Albania and estimated about 1 billion barrels of oil in place, with reserves of 227 million of recoverable barrels of light oil.

Technical and political problems as well as low oil prices caused Occidental to leave Albania and PMI picked up the rights.

They now have a $50 million deal with Royal Shell to re-drill the well using the most recent seismics and a first class rig. Shell estimates the potential pay at 1500 m.

Check the PMI board for more details.

Drilling begins in early april.

Bullboard Posts

Advancing flagship Ishkõday Gold Project in Ontario