Africa Oil Corp. - World-Class East Africa Oil Exploration (Seite 165)

[gimo211]

Mit den Zahlen von heute kann man eine Menge wunderbarer Analysen anstellen...

Hier noch etwas, was ich heute schon gepostet habe...



Ngamia-1, Twiga South-1 and Etuko-1 are already major discoveries!

Here the link to the full GCA independent Report. http://media3.marketwire.com/docs/895788t.pdf

We have discovered C2 cross (AOC 50%) contingent resources of 368-million bbls (the 557% increase) but an upside (C3) of 851-Million bbls from these three wells alone...

Therefore we have a 50% probability that these three discoveries exceed 386-million bbls and a 10% probability that these discoveries exceed 851-million bbls... I think, the true will be somewhere between these figures...

just to remind on, how huge the success has been so far....

[nicolani]

an der omx heute höchstes volumen seit über einem monat!

[gimo211]

Hier, was ich heute schon am anderer Stelle zum Resourcen-Update veröffentlicht habe...


The difference between "contingent" and "prospective" resources is important....

For reference, this paper (graphic at page #2) may be helpful...

SPE Guide for non-technical users: http://www.spe.org/industry/docs/PRMS_guide_non_tech.pdf


Therefore, we have a probability of 50% (that is 2C), that we have already "discovered" at least 368 Million bbls and in addition a prospective resource of 1.213 Billion bbls in 10BB and 13T (South Lokichar Sub Basin)...

Great... But I would expect, that these figures will soar further with more drilling success in the future...

[nicolani]

"It should be noted that these estimates do not include the Company's Puntland (Somalia) oil and gas interests which is available at www.sedar.com under Horn Petroleum Corporation, Africa Oil's 45% owned subsidiary."


man beachte auch diesen hinweis!

ja endlich mal wieder volumen im handel!

[gabbo62]

NEWS NEWS NEWS

http://www.marketwire.com/press-release/africa-oil-announces…
September 03, 2013 02:00 ET

Africa Oil Announces 557% Increase in Estimates of Contingent Resources in the South Lokichar Basin in Kenya and a Significant Increase in Risked Prospective Resources


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 3, 2013) - Africa Oil Corp. ("Africa Oil", "AOC", or "the Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to announce that an updated independent assessment of the Company's contingent and prospective resources on its Kenyan and Ethiopian exploration properties has been completed by Gaffney, Cline & Associates ("Gaffney Cline", or "GCA"). The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The effective date of the report is July 31, 2013.

It should be noted that these estimates do not include the Company's Puntland (Somalia) oil and gas interests which is available at www.sedar.com under Horn Petroleum Corporation, Africa Oil's 45% owned subsidiary.

Given the large quantity of prospects and leads in the Company's portfolio, the following three tables have been prepared for the convenience of readers by Africa Oil. Readers should refer to the tables attached to this News Release, which have been prepared by Gaffney Cline, detailing the contingent oil resources and prospective oil and gas resources by prospect and lead with the associated geological chance of success:

Summary of Contingent Oil Resources1 as of July 31, 2013
Country Licence GROSS Best
(2C) Estimate
(MMbbl) AOC
Working
Interest (%) NET Best
(2C) Estimate
(MMbbl)
Kenya Block 10BB 280 50% 140
Block 13T 87 50% 44
Ethiopia Block 7/82 155 30% 47

Notes:
1. This summation of resources has been prepared for convenience by the Company and not by Gaffney Cline & Associates.
2. Gross best estimate (2C) contingent gas resources of 106 BCF (32 BCF Net) not included in table for Blocks 7/8.

Summary of Prospective Oil Resources1 as of July 31, 2013
UNRISKED UNRISKED RISKED2
Country Licence GROSS
Best Estimate
(MMbbl) AOC
Working
Interest
(%) NET
Best Estimate
(MMbbl) NET
Best Estimate
(Risked)
(MMbbl)
Kenya Block 9 1,598 50% 799 96
Block 10A 376 30% 113 14
Block 10BA 9,836 50% 4,918 374
Block 10BB 2,364 50% 1,182 302
Block 12A 3,779 20% 756 38
Block 13T 2,174 50% 1,087 382
Ethiopia South Omo 2,641 30% 792 88

Summary of Prospective Gas Resources1 as of July 31, 2013
UNRISKED UNRISKED RISKED2
Country Licence GROSS
Best Estimate
(BCF) AOC
Working
Interest
(%) NET
Best Estimate
(BCF) NET
Best Estimate
(Risked)
(BCF)
Kenya Block 9 1,880 50% 940 376
Block 10A 360 30% 108 38
Notes:
1. This summation of resources has been prepared for convenience by the Company and not by Gaffney, Cline & Associates.
2. Risked resources have been calculated and summed by the company after risking prospects and leads individually. Geological Chance of success (GCOS) varies with each prospect or lead.

Keith Hill, Africa Oil's President and Chief Executive Officer, commented: "Gaffney Cline's independent assessment confirms a significant increase to contingent and risked prospective resources in the Tertiary rift basins in Kenya and Ethiopia. Based on the drilling and testing program over the past year we have confirmed the South Lokichar Basin contains gross contingent resources of 368 million barrels of oil, an increase of 557%. In addition gross risked prospective resources of 1,213 million barrels of oil are estimated for the South Lokichar Basin. This level of resource exceeds the threshold for development and development studies have commenced. We continue to aggressively explore with three seismic crews active and are ramping up drilling activity with plans to have a total of six rigs (four operated by Tullow Oil) operating in the fourth quarter of 2013. We expect the next 18 months to be transformational as we drill-out the prolific South Lokichar Basin and open up a number of highly prospective basins on the Tertiary rift trend."

Africa Oil's holdings include working interests in operated and non-operated Production Sharing Contracts (PSC's) in Kenya, Ethiopia and Puntland (Somalia) in East Africa. These Blocks contain relatively under explored plays in basins that have proven and productive analogs. Since the effective date (June 30, 2012) of Gaffney Cline's previous evaluation of prospective resources, highlights of the Company's exploration activities in Kenya and Ethiopia include:

•Drilling and testing the Twiga South-1 well in Block 13T (Kenya) resulting in an additional oil discovery and demonstrating high quality Auwerwer sands containing light waxy sweet oil.
•Production testing the Ngamia-1A discovery in Block 10BB (Kenya) which significantly increased the assessment of net oil pay encountered by the well;
•Drilling the Etuko-1 well in Block 10BB (Kenya) resulting in an additional oil discovery.
•As a result of these additional South Lokichar Basin discoveries, several prospects and leads in the Tertiary rift have been de-risked and the volume of contingent oil resources has increased;
•Drilling the Paipai-1 well in Block 10A (Kenya) demonstrating a working petroleum system in the Anza Basin;
•Drilling the Sabisa-1 well in the South Omo Block (Ethiopia) demonstrating a working petroleum system in the South Omo Basin;
•The acquisition of approximately 5,000 km of 2D seismic, increasing the number of mapped prospects and leads;
Please refer to the tables below detailing the Company's contingent oil resources and prospective oil and gas resources by prospect and lead as provided by Gaffney Cline effective July 31st, 2013.

To view Tables 1-12, click on the following link: http://media3.marketwire.com/docs/895788t.pdf

[gimo211]

Lesenswerter Report, gabbo62 - Danke

besonders gefällt natürlich das Share Price upside, welches sich auf C$ 72 hinauf bewegt... Größte Treiber dafür sind die inzwischen relativ low-risk (im Vergleich zum wildcat drilling; es bleibt dennoch risikoreiches Explorations-Drilling) weiteren prospects in 10BB und alles was 10BA alles zu bieten hat...

Jetzt im September beginnt eine sehr aktive Phase; es wird eine deutlich erhöhten News-Flow geben. Ich hoffe, es wird sich auch bald in der Share Price Entwicklung zeigen...

[gabbo62]

http://www.seanfahy.com/reports/daily_edge/dailyedge.pdf

Africa Oil Seiten 12-15
Quelle: Scotiabank

[nicolani]

es braucht halt alles seine zeit, rom ist auch nicht an einem tag erbaut worden, für geduldige eine jahrhundert-chance, mit ein wenig fingerspitzengefühl hier die besten player zu finden, aoi und tlw sollten auf jeden fall dazugehören!!

[gabbo62]

Grand Kenya port plan faces headwinds despite oil finds

By Drazen Jorgic ,Reuters

http://www.chinapost.com.tw/commentary/reuters/2013/09/01/38…

[gimo211]

Was man zum Artikel noch sagen muss ist, dass das JV wg. der "encouraging" Resultate bei Sabisa entschieden hat, die nächste well nicht im Chew Bahir Basin zu drillen, sondern zunächst das Tutule prospect- etwa 4 km von Sabisa entfernt - an zu gehen....





http://www.ethiosports.com/2013/08/31/no-oil-in-first-explor…


No oil in first exploration well in South Omo
By Kaleyesus Bekele

The UK oil firm, Tullow Oil, did not find oil in the first exploration well it drilled in its concession in the South Omo basin, it was learnt.

Reliable sources told The Reporter that the drilling crew of Tullow Oil Ethiopia did not find oil flow in the first exploration well dubbed Sabisa-1. The well is drilled in a locality 15 km from Omorate town. Tullow started drilling on the first well last January. In a statement issued in April, Tullow said it encountered hydrocarbons requiring logging and further evaluation.

The Sabisa-1 well in the South Omo Block in Southern Ethiopia has been drilled to a total depth of 1810 metres. Tullow said hydrocarbon indications in sands beneath a thick claystone top seal have been recorded whilst drilling, but hole instability issues have required the drilling of a sidetrack to comprehensively log and sample these zones of interest.

The sidetrack commenced in April and was completed in June. A Polish drilling contractor, OGEC, is conducting the drilling operation. The crew drilled horizontally due to the challenging nature of the well. Sources told The Reporter that the crew collected useful data that indicate the presence of oil in the area but did not find the oil reserve.

According to sources, the company is in the process of starting work on the second well. “Tullow will soon mobilize its drilling crew to the second well site once the rainy season is over,” sources said. The second well will be drilled near Chew Bahir.
Officials of Tullow declined to comment on the matter saying that they would soon issue a press statement.

Tullow has a 50 percent stake on the South Omo concession while the Vancouver-based company, Africa Oil, owns 30 percent and the US company, Marathon Oil, has 20 percent stake.

Petroleum experts The Reporter talked to said that Tullow did not find an oil inflow in the well. The company targeted to drill 2600 meters but was unable to go deeper than 1810 due to the instability of the well. The experts said that the instability is caused by the existence of oil shell in the area. “Since there are oil shells in the well, the earth could not hold the drilling pipe tight this has been a very challenging task for the drilling crew. There is sandstone (reservoir rock) and shell (the source rock). These are the hydrocarbon indications that the company found in the well,” the experts said.

Though Tullow did not note oil inflow it has encountered a working petroleum system (reservoir rock and source rock). “This shows that though there is no oil in the first well the existence of reservoir and source rock is an indication of oil reserve in the region. In the history of oil exploration you do not discover oil reserve in the first exploration well. These findings would be useful information for the planned second and third exploration well. The results obtained in the first well are encouraging to carry out further exploration work. It is not discouraging,” the experts said. The company spent more than 60 million dollars in the first well.

The seismic data collected by BGP Geo Services, the Chinese company contacted by Tullow Oil, from the South Omo concession has demonstrated the presence of oil in the area. “I am sure oil would be discovered in the second or third exploration well,” one of the experts told The Reporter.