PANCONTINENTAL OIL - Projekte in Australien, Kenya, Malta, Marocco und Namibia (Seite 193)

[Pompeianus]

US firm joins hunt for oil in Kenyan coast
By SANDRA CHAO and MARK AGUTU
Posted Wednesday, August 8 2012 at 22:30

An American company has started the search for oil off the Kenyan Coast, barely four months after Tullow Oil struck huge reservoirs in Turkana County.

Apache Corporation will start drilling in the Lamu basin in a week at a block known as Mbawa 1, 70 kilometres off the shoreline.

The company’s public and international affairs manager, Mr John Roper, told the Daily Nation the project would start between August 10 and 15.

“The well, called the Mbawa 1, is targeting what we hope is a large oil reservoir. The Mbawa well will take about two months to drill to its planned depth of 3,200 metres. The main challenge we face in drilling this well is the same as whenever we drill an exploratory well — we won’t know for sure what we have got until we’re finished,” he said.

Mr Roper said they had contracted Deepsea Metro 1, a ship owned by Odfjell Drilling Company of Bermuda, to sink the well.

He said the block was picked because it is identical with the ones on the northern shores of Madagascar where the company found more than 30 billion barrels of oil.

“If you move Madagascar over to Kenya (as if they are puzzle pieces), you’ll see its northern and western coasts fit very nicely into the coast of Kenya, where it actually originated prior to the major plate breakup that happened about 150 million years ago.

“Along Madagascar’s northern shore there’s about 30 billion barrels of oil in place. If you do plate reconstructions, what you find is it fits very nicely with our block position in the Lamu basin. The oil found in Madagascar comes from Jurassic source rock and we believe this same source could be in the area where we are planning to drill off of the coast of Kenya,” Mr Roper said.

He said they were discussing with government, business leaders and community representatives plans for the exploration.

The group has assured fishermen that they will not be displaced by the oil hunt.

Project cleared

The project has already been cleared by the National Environmental Management Authority.

On Wednesday, The New York Times described Apache as an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids.

“As of December 31, 2011, Apache had exploration and production interests in six countries: the United States, Canada, Egypt, Australia, offshore the United Kingdom in the North Sea, and Argentina,” it said.

This is not the first time multinationals are digging up the seabed for oil. In 2008, Woodside Energy wound up activities in Lamu after drilling a dry well the previous year.

The company sunk a 4,887-metre well only to find sandstones and fresh water.

In 2007, China National Offshore Oil Corporation surrendered four blocks in order to carry out a seismic survey to map out oil potential deposits.

Tullow is currently exploring whether the Turkana reservoirs are commercially viable.
http://www.nation.co.ke/News/US+firm+joins+hunt+for+oil+in+K…

[Staberhuk]

Dank an user "Dknow" from hotcopper von letzter Nacht:

PCL in Dolmen Stockbrokers of Ireland, Weekly Trader 7th August 2012 :

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Trading Recommendations

Oil exploration – Potential short-term catalysts

One company at an earlier stage of development is Pancontinental (TP: AUD0.30), where transfer of the drill ship Deepsea Metro 1 from the BG/Ophir Papa-1 well in Block 3 offshore Tanzania to Block L8 offshore Kenya to drill a follow up to Mbawa, has piqued interest.

Within the Block, operated by Apache and in which Tullow and Pancontinental each hold a 15% interest, the companies are pursuing a potential major oil play which could contain 4.9 billion barrels of oil in place. Results are expected 45 to 60 days after spudding.

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http://www.dolmenstockbrokers.ie/reports/Weekly%20Trader%207…

Er erklärte, dass TP AUD 0,30 den pre-spud Target Price bezeichnet.

Dann hoffen wir mal, denn

Dank an user "evopilot" from hotcopper von letzter Nacht:

"rigzone has confirmed our drill rig is on location in kenya and ready to start drilling at mbawa-1

http://www.rigzone.com/data/rig_detail.asp?rig_id=1539

Last chance to top up at these prices before this goes nuts !! "

Endlich kann es losgehen, vielleicht noch vor dem 12.8.2012.

[Staberhuk]

Antwort auf Beitrag Nr.: 43.469.678 von Fliegenschiss am 08.08.12 11:49:38

Schluß in Down Under war immerhin bei 0,215 AUD. Ist recht stabil.

[Fliegenschiss]

Moin, Moin


heute ist der Handel sehr zurückhaltend. Ich habe so das Bauchgefühl das es morgen in Down Under weiter hoch geht.


Gruß

Fliege

[Staberhuk]

Diese Aktien, die nicht über die Börse laufen, werden also immer noch zu 0,175 AUD zu kaufen sein. Der Verkauf startet am 9.8.2012.
Ich denke, dass das mit eine Ursache der Kaufzurückhaltung ist.
Es wird Zeit, dass die Bohrung beginnt. Der 12.8.2012 ist der angekündigte Termin.

Quelle:ASX Companies Announcement Office
31 July 2012
Placement of Share Purchase Plan Shortfall

The placement of the SPP Shortfall will result in the issue of up to 25,300,002 shares at $0.175 each to raise up to $4.43
million. Funds raised pursuant to the placement will be used to fund some or all of the following items:
„h Kenya Block L8 - Mbawa well costs;
„h Further seismic programme over Kenya L8;
„h Seismic programme over Kenya L6;
„h Seismic programme over Namibia EL 0037;
„h Ongoing exploration over Kenya L10A & L10B; and
„h Business development and general working capital purposes
The Placement is being made to sophisticated investors as well as international and domestic
institutional clients of Hartleys Limited, Principal Broker to Pancontinental.
An Appendix 3B and cleansing statement will be released following settlement of the SPP Shortfall which is expected to occur on Thursday, 9 August 2012.

[Fliegenschiss]

Moin,Moin

es ist wieder geschafft. 05c runter.
Am Freitag stehen wir wieder bei 0,19ct und alles beginnt von vorne.

Komisch oder?


Gruß

Fliege

[Pompeianus]

Why the Doc Should Have Flown Further West

by Kris Sayce
on 6 August 2012

Our old pal, Diggers & Drillers editor Dr. Alex Cowie, is spending the first part of this week in Kalgoorlie.

He assures us it’s not a leisure trip…he’s there for the Diggers & Dealers annual mining bash…along with thousands of other delegates, and hundreds of companies.

With any luck he’ll come back with hot-off-the-press news and inside info that you can use to invest in the resources market over the next 12 months.

However, we wonder if the Doc could have gone a bit further west. Rather than getting off in Kalgoorlie, he could have kept going for another 5,300 kms.

Because in our view, that’s where the real action is taking place in the resources story…

Of course, the Doc knows that. He’s clocked up goodness knows how many frequent flyer points over the past two years flying to Morocco, South Africa, and Botswana.

And this month he’s put Africa back on the buy list, tipping a stock that’s in the driving seat as the African energy sector gets set to boom.

It’s a story we’ve backed too, getting in on the act last December. And the one area of most interest is the East African coastline. To be precise, the activity in the oil and gas sector.

East Africa is a genuine frontier exploration area. For instance, you can count on two hands the number of exploratory drill holes sunk off the Kenyan coast.

But as usually happens, after small companies led the charge into frontier exploration, the big companies are now finally getting involved.

Bidding War for East African Assets

UK-listed Cove Energy was the target of a bidding war between Europe’s biggest energy company, Royal Dutch Shell, and Thailand’s biggest energy company, PTT Exploration and Production.

PTT ended up winning. The bidding war now values Cove Energy at GBP1.22 billion…or 206% more than it was in November last year.

But that’s not the only action on the East African coast. Miffed at missing out on Cove, Royal Dutch Shell has now set its sights further down the East African coast. This time, on the Mozambique assets of US energy giant, Anadarko Petroleum.

Insiders suggest Anadarko’s Mozambique assets could be worth up to USD$8 billion. It gives you an idea of just how hot this market is right now.

Last month, BusinessWeek reported:

‘Apache Corp. (APA) will drill Kenya’s first deepwater oil well next month, a prospect that could add a $70 billion crude find to the record natural-gas discoveries along East Africa’s coast.

‘Apache and partners including Tullow Oil Plc (TLW) said the Mbawa well is likely to strike oil based on seismic data and slicks seen on the Indian Ocean’s surface. The drilling is targeting as much as 700 million barrels, a resource valued at twice Kenya’s annual economic output at today’s oil prices.’


But it’s not just the big Western oil companies throwing their weight about in Africa. Take this from the Australian today. Legal analysts at King Wood Mallesons told the paper:

‘We have a lot of competition for Chinese investment dollars from jurisdictions that the Chinese think are more friendly towards them in Canada and Africa. It comes down to whether we are a country that’s easy to do business with. Canada and much of Africa are being very proactive.’

It’s not surprising Kenya is proactive. The potential oil resource in just one oil field could be valued at twice the country’s annual GDP.

Profits in Africa

Naturally, the positive attitude to the resources sector won’t last forever. Remember, Aussie governments used to love the resources industry too.

That was until governments figured out that all the hard work and investment by entrepreneurs and investors, resulted in something central planners hate – profits.

So, they’re trying to rip away these hard-earned profits and use them to fund wasteful government follies…and increase the size of the unaffordable Welfare State.

But for now, the East African coast is still a frontier opportunity. And African countries need the investment of foreign capital. That’s great for the frontier explorers.

Especially for the firms that got in early, when governments were giving away permits at rock-bottom prices. Today, it’s not so easy to get a permit on the cheap.

But things are changing fast.

The East African frontier has moved from an area that few cared about to an area that now attracts multibillion dollar price-tags.

It’s still not too late to profit from what could be the last major frontier for energy exploration, but the window of opportunity is closing.

The next 12 months will be the key to finding out just how lucrative this frontier opportunity is.

http://www.moneymorning.com.au/20120806/why-the-doc-should-h…

[Fliegenschiss]

Moin, Moin

und es geht schon wieder los. Es wird wieder gedrückt.

Gott sei dank haben wir noch ein schönes Volumen, da ist es nicht so einfach. Sinkt das Volumen wieder unter die 3 Moi sind wir ruck zuck wieder bei 19 ct.

Schei....


Gruß

Fliege

[motz1]

Norwegian firm Statoil joins the search for oil in Kenya

Sunday
August 5, 2012

Norwegian energy exploration firm Statoil has become the latest entrant in the Kenya oil search that has so far attracted more than 24 players, an investment bank reported.

US firm Morgan Stanley said Kenya is in advanced talks that will see Statoil take up the unlicensed block L26 in the deep offshore.

The Business Daily could not independently verify the report.

The energy firm with operations in six African including Egypt, Algeria, Tanzania, Ghana, Angola and Libya, recently struck a rich vein in East Africa after securing large deposits of gas in Tanzania.

Statoil has a presence in more than 30 countries with a total revenue of Sh10 trillion ($119 billion).

Tullow Oil and Africa Oil’s outstanding success at the Ngamia exploration well has dramatically heightened investor interest in Kenya.

“The last unlicensed offshore block, L26 is to be licensed to Statoil (UW) soon,” said investment bank Morgan Stanley in its latest oil and gas research on Kenya.

Licensing of the deep water offshore blocks at the Kenya coast has also been enhanced by discoveries along the coastlines of Tanzania and Mozambique.

Other new entrants include Total and ENI with interests in blocks L21-25.

“We would expect additional new blocks to be put up for licensing in early 2013,” said the US bank.

Kenya plans to gazette and auction off new blocks for oil and gas exploration.

The Ministry of Energy said UK explorer Tullow Oil and Anadarko Petroleum would surrender acreage in a total of seven blocks in the coming weeks as required in their production-sharing contracts with the government.

“With Tullow and Anadarko set to surrender 25 per cent of their acreage shortly, there is expected to be more new blocks set up for exploration,” said the Morgan Stanley.

Tullow Oil could give up a quarter of its territory in block 10BB, where it made its March oil discovery, as well as a quarter of block 13T. Both are onshore.

Anadarko will surrender 25 per cent of each of its five offshore blocks.

As part of production-sharing contracts, explorers must surrender a quarter of their unused blocks after two years if the block is onshore or three years if it is offshore.

With a rapidly accelerating drilling programme after Ngamia success, partners Tullow and Africa Oil expect to start drilling at Twiga-1 shortly.

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http://www.businessdailyafrica.com/Corporate+News/Norwegian+…

[motz1]

Trefferquote in East-Africa offshore bei 87% .
Sind zwar nur Wahrscheinlichkeiten, aber es darf sehr gerne so kommen .

Cheers to Dknow from hotcopper!

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Oil in East Africa: Is this the Last Frontier for Energy?

by Callum Newman
on 4 August 2012

The new global hotspot in the oil and gas business isn’t US shale gas, or Queensland’s coal seam gas industry. It’s the vast untapped resources of offshore oil and gas in East Africa.

It’s been tagged ‘elephant country’ and not because of the local mammals with ivory tusks and big ears. It’s all to do with the discovery of huge energy reserves off the coasts of Tanzania, Mozambique and, potentially, Kenya. Opportunities are hot for small exploration companies to identify more assets that can be tapped and developed.

What’s remarkable is how little action this part of the world has seen until now. For a long time a combo of low commodity prices and high risk shut out the East Africa region from any exploration or investment at all.

Kris Sayce pointed out in Australian Small Cap Investigator that until recently, for every seventy wells drilled over the rest of Africa, only one was drilled in the east. That makes it one of the last regions of relatively unexplored territory left in the world.

But that’s changing faster than the time Michael Phelps takes to swim to the other end of the pool. The race is on to find new energy reserves to replace current production and increase output to meet the huge rising demand in Asia.

Remember, all the cheap and easy oil fields have been in production for a long, long time. Oil companies have to find new supplies, often in more remote, riskier and more expensive places.

The risks are high — but fortunately, so are the rewards…

Low-Cost African Oil and Gas
Threatens Aussie Energy Dominance

The reason for the excitement in East Africa is down to the success of early drilling.

Diggers and Drillers editor, Dr. Alex Cowie told his subscribers this week:

‘The success rate in this region is outstanding. To provide some context, oil and gas exploration typically has a success rate just 10-20%. That’s terrible when you think about. It can cost $50 million to sink an offshore well, and the chance of making a financial return could be as low as one in ten.

‘But East Coast African energy exploration stands out from the crowd because in all but a few cases they hit oil or gas. To be exact — the success rate has been 87%. A strike rate of close to 9 out of 10 is almost unheard of.’

This is attracting the interest of the big energy majors. And shareholders in the London-listed Cove Energy (LON: COV) don’t need to be told about the success in the region. The Cove share price has gained over 1000% in three years mainly thanks to its assets in Mozambique.

Global energy giant Royal Dutch Shell this year made a bid for the explorer, only to be trumped by Thai firm PTT Exploration & Production. After withdrawing its offer for Cove, Shell is now rumoured to be in talks with American company Anadarko Petroleum (NYSE:APC), which has an even larger stake in the same gas reserve and plans to develop an export facility to supply Asia.

This has got Australia’s natural gas industry worried, despite East Africa’s current lack of production and infrastructure. On Thursday, the Australian Financial Review ran the headline: ‘Woodside warns of East Africa rivalry’. The story notes:

‘Woodside Petroleum chief executive Peter Coleman has sounded another warning about the competitive threat from rapidly emerging gas hubs overseas that is increasing pressure to rein in costs in Australia’s liquefied natural gas sector.

‘He pointed in particular to East Africa, where discoveries in Tanzania and Mozambique by companies including BG Group, ENI and Anadarko Petroleum have spawned proposals for LNG export ventures that will target customers in Asia.’

Asian countries could source their energy from Africa and cut out the volatile Middle East and higher cost producers like Australia.

Huge Opportunity for Oil Explorers

The subdued oil price in recent times has seen major oil companies rein in their frontier exploration and consolidate their existing projects and revenue. This has created opportunities for smaller, aggressive companies to find new reserves. Cath Norman, managing director of small oil and gas explorer, FAR Ltd (ASX: FAR), said in a recent interview:

‘The larger companies are doing very little frontier exploration at the moment; they’re relying on the smaller companies, with a view to buying back in later. The larger companies will always have a need to replace their reserves and increase their inventories, and they’re really dependent on companies like us to do that for them.’

It’s a huge opportunity for exploration companies to get in early and capitalise on the growth. One benefit is they’re not especially sensitive to short term movements in the oil price because they don’t have any revenue. An oil producer does — and any downward shift in the oil price effects their profit. But shares don’t come much riskier than oil explorers.

The good news for investors is that the energy business can rise without depending on a rising economy. That might sound strange because oil often falls on slack demand. But the other question is always supply.

During the 1970's, a troubled decade frequently cited as similar to today, the oil price rose over fifteen times in price per barrel despite ‘stagflation’ and a bear market in bonds and stocks.

The long-term trends for the energy business are bullish, as Asian demand continues to rise and existing producers struggle to maintain supply. That’s good news for some oil and gas stocks, especially for frontier energy explorers.

Callum Newman
Editor, Money Weekend


http://www.moneymorning.com.au/20120804/oil-in-east-africa-i…