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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 scramblin8manon Dec 09, 2013 5:24am
450 Views
Post# 21984701

Two dusters and one success with unexpected upside.

Two dusters and one success with unexpected upside.I am not sure why they drilled EL Kuran at this point if they already knew it would be a frac well. Obviously with the huge success elswhere there will be no hurry to test or produce a frac well. Maybe just had to drill to keep their permit alive. While they cannot say much without testing I am guessing the gas hit was significant and the bottom hole geology a pleasant surprise. Despite all the great technology these days new discoverys are still made made by accident. Will be interesting to see the tests and the results of the extended well. As to the short term i expect lots of pressure to the downside - may break support depending on how hungry the big players are. The little guys will be tripping over themselves to sell as there will be no good news for at least a month. Hopefully we do not get a take over attempt now.
Bullboard Posts