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.

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Comment by creaturecomphorton Oct 30, 2012 6:16pm

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Post# 20541748

RE: Twiga - 30m of Pay

Tullow strikes oil in second Northern Kenya operation

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An oil rig. Sources with knowledge of Tullow Kenya’s operations said the Twiga 1 South well, where exploration began mid this year, has yielded more than 30 metres of net pay’ deposits, 10 metres more than the initial discovery at the pioneer Ngamia well. File

An oil rig. Sources with knowledge of Tullow Kenya’s operations said the Twiga 1 South well, where exploration began mid this year, has yielded more than 30 metres of net pay’ deposits, 10 metres more than the initial discovery at the pioneer Ngamia well. File Nation Media Group

By Zeddy Sambu

Posted Tuesday, October 30 2012 at 21:06

In Summary

Tullow Oil was expected to announce the fresh discovery before the end of this month, but was delayed by a mechanical fault on the drilling rig, according to its partner, Africa Oil.
Exploration activity is taking place in both on-shore and off-shore blocks located in Kenya’s four major basins – Anza, Lamu, Rift and Mandera with a view to discovering commercially viable deposits and reduce reliance on imported oil.
Kenya imports 3.6 million tonnes of refined petroleum products annually.
This is equivalent to a per capita consumption of 94.4 kilogrammes, which is still below the average for developing economies – a development that has been attributed to slow economic growth and over dependence on rain-fed agriculture.