Africa Oil Corp. - World-Class East Africa Oil Exploration (Seite 260)
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ISIN: CA00829Q1019 · WKN: A0MZJC · Symbol: AFZ
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Yep, resources, da schließe ich mich an!
EITS hat vollkommen korrekt den Fortgang des Drilling-Prozess dokumentiert und auch ich habe meinen HRN-Punt geworfen, als seine Kommentierung für die tiefen Zonen negativ wurden...
... EITS war der einzige Lichtblick in den chaotischen letzten 8 Monaten...
EITS hat vollkommen korrekt den Fortgang des Drilling-Prozess dokumentiert und auch ich habe meinen HRN-Punt geworfen, als seine Kommentierung für die tiefen Zonen negativ wurden...
... EITS war der einzige Lichtblick in den chaotischen letzten 8 Monaten...
Ich bedanke mich unbekannterweise mal bei EITS, der vielen Anderen und mir das Masaker erspart hat !!!
Der bereits befürchtete Worst Case
Beide Puntland Wells sind duster und das Nugaal Drilling folgt auch nicht unmittelbar...
... Zudem sollte man mit einem ziemlichen over run der Kosten rechnen...
Das wird kein schöner Tag für HRN... (RMP und RRL dann morgen in UK und Aussi wg. Bankholiday heute in London)
... Andererseits wird HRN irgendwann in den nächsten Monaten wieder ein interessanter "buy early" move sein...
Beide Puntland Wells sind duster und das Nugaal Drilling folgt auch nicht unmittelbar...
... Zudem sollte man mit einem ziemlichen over run der Kosten rechnen...
Das wird kein schöner Tag für HRN... (RMP und RRL dann morgen in UK und Aussi wg. Bankholiday heute in London)
... Andererseits wird HRN irgendwann in den nächsten Monaten wieder ein interessanter "buy early" move sein...
Mein Gefühl: Endlich Ruhe.
Puntland-Update
---------
August 27, 2012
Horn Petroleum Provides an Update on Puntland Drilling
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2012) - Horn Petroleum Corporation ("Horn" or the "Company") (TSX VENTURE:HRN) is pleased to provide an update on the drilling program ongoing in Puntland (Somalia).
The Shabeel North-1 well has reached a total depth of 3945 meters and has encountered metamorphic basement at a depth of 3919 meters. The well penetrated 149 meters of interbedded sands and shales of the Triassic Adigrat Formation with no oil or gas shows and only minor porosity exhibited on electric logs. Accordingly, the well is being plugged. As noted in a previous Puntland drilling update, the Upper Cretaceous Jesomma sands did exhibit porosity and hydrocarbon shows but produced only fresh water on a drill stem test. These sands are similar to the Jesomma sands encountered in the previously drilled Shabeel well in respect of log response and oil and gas shows. It has therefore been determined that additional testing of these zones in the previously drilled Shabeel well is also not warranted.
Based on the encouragement provided by the Shabeel wells, the Company and its partners, Range Resources and Red Emperor, plan to enter the next exploration period in both the Nugaal and Dharoor Valley Production Sharing Contracts ("PSC's) which carry a commitment to drill one well in each block within an additional 3 year term. The current operational plan would be to contract a seismic crew to acquire additional data in the Dharoor Valley block and to hold discussions with the Puntland Government to gain access regarding drill ready prospects in the Nugaal Valley block. The focus of the Dharoor seismic program will to delineate new structural prospects for the upcoming drilling campaign.
Keith Hill, Chairman of Horn, commented, "While we were disappointed that we were not able to flow oil from the first two exploration wells in our Puntland (Somalia) drilling campaign, we remain highly encouraged that all of the critical elements exist for oil accumulations, namely a working petroleum system, good quality reservoirs and thick seal rocks. We look forward to working with the Puntland government to move our exploration project to the next phase which will likely require us to focus on prospects in different areas of the basins. One should keep in perspective that it often takes a number of wells to find commercial hydrocarbons and we plan to continue our aggressive program to unlock the potential of this highly prospective region."
Horn holds a 60% working interest in the Dharoor and Nugaal Valley blocks and is the operator. The other partners in the blocks are Range Resources (20%) and Red Emperor (20%). Africa Oil Corporation holds an approximate 45% equity interest in Horn.
Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation's shares are listed on the TSX Venture Exchange under the symbol "HRN".
ON BEHALF OF THE BOARD
David Grellman, President and CEO
http://hornpetroleum.mwnewsroom.com/press-releases/horn-petr…
---------
August 27, 2012
Horn Petroleum Provides an Update on Puntland Drilling
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2012) - Horn Petroleum Corporation ("Horn" or the "Company") (TSX VENTURE:HRN) is pleased to provide an update on the drilling program ongoing in Puntland (Somalia).
The Shabeel North-1 well has reached a total depth of 3945 meters and has encountered metamorphic basement at a depth of 3919 meters. The well penetrated 149 meters of interbedded sands and shales of the Triassic Adigrat Formation with no oil or gas shows and only minor porosity exhibited on electric logs. Accordingly, the well is being plugged. As noted in a previous Puntland drilling update, the Upper Cretaceous Jesomma sands did exhibit porosity and hydrocarbon shows but produced only fresh water on a drill stem test. These sands are similar to the Jesomma sands encountered in the previously drilled Shabeel well in respect of log response and oil and gas shows. It has therefore been determined that additional testing of these zones in the previously drilled Shabeel well is also not warranted.
Based on the encouragement provided by the Shabeel wells, the Company and its partners, Range Resources and Red Emperor, plan to enter the next exploration period in both the Nugaal and Dharoor Valley Production Sharing Contracts ("PSC's) which carry a commitment to drill one well in each block within an additional 3 year term. The current operational plan would be to contract a seismic crew to acquire additional data in the Dharoor Valley block and to hold discussions with the Puntland Government to gain access regarding drill ready prospects in the Nugaal Valley block. The focus of the Dharoor seismic program will to delineate new structural prospects for the upcoming drilling campaign.
Keith Hill, Chairman of Horn, commented, "While we were disappointed that we were not able to flow oil from the first two exploration wells in our Puntland (Somalia) drilling campaign, we remain highly encouraged that all of the critical elements exist for oil accumulations, namely a working petroleum system, good quality reservoirs and thick seal rocks. We look forward to working with the Puntland government to move our exploration project to the next phase which will likely require us to focus on prospects in different areas of the basins. One should keep in perspective that it often takes a number of wells to find commercial hydrocarbons and we plan to continue our aggressive program to unlock the potential of this highly prospective region."
Horn holds a 60% working interest in the Dharoor and Nugaal Valley blocks and is the operator. The other partners in the blocks are Range Resources (20%) and Red Emperor (20%). Africa Oil Corporation holds an approximate 45% equity interest in Horn.
Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation's shares are listed on the TSX Venture Exchange under the symbol "HRN".
ON BEHALF OF THE BOARD
David Grellman, President and CEO
http://hornpetroleum.mwnewsroom.com/press-releases/horn-petr…
Trading Spotlight
Zur Entwicklung Kenyas nach Ngamia-1.
Once again, cheers to Dknow/hotcopper!
-------------------------------
Big oil potential in Kenya
Kenya's new growth pipeline
Charlotte Mathews | 21 August 2012
Tullow Oil's discovery of big oil potential in the Ngamia-1 well in Kenya opens new vistas for Kenya's economic development, including the mining sector. The potential could be twice as big as any of its other East African exploration wells.
Neighbouring South Sudan and Uganda will also be affected. South Sudan, Kenya and Ethiopia are already developing a pipeline, port and refinery at Lamu in Kenya to bypass the politically charged oil pipeline through Sudan.
If these oil finds are as big as expected, Uganda, where oil has been found in Lake Albert, may have to give way to Kenya when it comes to siting a refinery. Kenya has a small refinery at Mombasa which would need a major upgrade, or the one at Lamu could be made bigger.
Kenya would also need huge infrastructure development, which means contracting opportunities for SA's work-starved construction groups, and there will be knock-on development for other sectors of the Kenyan economy.
Though Kenya has some attractive mineral deposits, they have remained largely unexplored until now. The main constraint has been a lack of legislation to regulate and encourage investment in mining, says Monica Gichuhi, CEO of the Kenya Chamber of Mines. A draft mining and minerals bill is expected to go to cabinet later this year.
Peter Kinuthia, senior tax manager at Ernst & Young in Kenya, who has been involved in consultations on the new act, says it draws from best practice in SA, Australia, Canada and Tanzania. "It's a win-win; we have the minerals but not the skills and want to attract investors with money and expertise."
Kenya has well-established soda ash and fluorspar operations, but there are also new developments in mineral sands and gold. ASX-listed Base Resources is developing the Kwale Mineral Sands project while African Barrick Gold has agreed to acquire prospective gold assets from Aviva Corp, including a share in a joint venture with Lonmin.
Kinuthia says Kenya's power constraints are being addressed. There's a potential 10000MW from geothermal sources, of which only 500MW is being exploited at present, and top-class thermal coal deposits are being developed in Kitui, where a parastatal firm has been tasked with building a power station nearby.
Elias Pungong, Ernst & Young partner: assurance African oil & gas sector, says the challenge is going to be how Kenya's government manages its oil resources to ensure benefits for the whole country. But there will certainly be more work for everyone.
Says Gichuhi: "Oil and gas are extractive industries and these finds will increase interest in exploration and investment in the country."
http://www.fm.co.za/economy/international/2012/08/21/big-oil…
Once again, cheers to Dknow/hotcopper!
-------------------------------
Big oil potential in Kenya
Kenya's new growth pipeline
Charlotte Mathews | 21 August 2012
Tullow Oil's discovery of big oil potential in the Ngamia-1 well in Kenya opens new vistas for Kenya's economic development, including the mining sector. The potential could be twice as big as any of its other East African exploration wells.
Neighbouring South Sudan and Uganda will also be affected. South Sudan, Kenya and Ethiopia are already developing a pipeline, port and refinery at Lamu in Kenya to bypass the politically charged oil pipeline through Sudan.
If these oil finds are as big as expected, Uganda, where oil has been found in Lake Albert, may have to give way to Kenya when it comes to siting a refinery. Kenya has a small refinery at Mombasa which would need a major upgrade, or the one at Lamu could be made bigger.
Kenya would also need huge infrastructure development, which means contracting opportunities for SA's work-starved construction groups, and there will be knock-on development for other sectors of the Kenyan economy.
Though Kenya has some attractive mineral deposits, they have remained largely unexplored until now. The main constraint has been a lack of legislation to regulate and encourage investment in mining, says Monica Gichuhi, CEO of the Kenya Chamber of Mines. A draft mining and minerals bill is expected to go to cabinet later this year.
Peter Kinuthia, senior tax manager at Ernst & Young in Kenya, who has been involved in consultations on the new act, says it draws from best practice in SA, Australia, Canada and Tanzania. "It's a win-win; we have the minerals but not the skills and want to attract investors with money and expertise."
Kenya has well-established soda ash and fluorspar operations, but there are also new developments in mineral sands and gold. ASX-listed Base Resources is developing the Kwale Mineral Sands project while African Barrick Gold has agreed to acquire prospective gold assets from Aviva Corp, including a share in a joint venture with Lonmin.
Kinuthia says Kenya's power constraints are being addressed. There's a potential 10000MW from geothermal sources, of which only 500MW is being exploited at present, and top-class thermal coal deposits are being developed in Kitui, where a parastatal firm has been tasked with building a power station nearby.
Elias Pungong, Ernst & Young partner: assurance African oil & gas sector, says the challenge is going to be how Kenya's government manages its oil resources to ensure benefits for the whole country. But there will certainly be more work for everyone.
Says Gichuhi: "Oil and gas are extractive industries and these finds will increase interest in exploration and investment in the country."
http://www.fm.co.za/economy/international/2012/08/21/big-oil…
Artikel zu Tullow - betrifft hauptsächlich AOI und Ngamia-1, zudem wird das Mbawa-Drilling (PCL) benannt.
Cheers to Dknow from hotcopper!
--------------------------
Tullow Oil drills second well in northern Kenya
Tue Aug 21, 2012 2:19pm GMT
Kelly Gilblom
NAIROBI (Reuters) - British explorer Tullow Oil has begun drilling a well in northwest Kenya, its first since discovering oil in the African country's Turkana region in March, company officials said on Tuesday.
The well is part of a flurry of exploration activity in east Africa, which has become a petroleum exploration hub after recent finds in Uganda, Tanzania and Mozambique.
Tullow hopes the new Twiga-1 wildcat well will repeat the success of its Ngamia-1 well. Twiga-1 is on Block 13T, about 30km west of Ngamia-1, which is being tested for commercial viability
"It's a lesser risk than when we were drilling Ngamia-1, but the only way to know what's in there is to drill." company spokeswoman Anne Kabugi told Reuters.
The well's target depth is about 3,000 metres and will take several months to complete, Kabugi said.
Tullow, the largest exploration licence holder in Africa, has a 50 percent stake in the Block 13T licence. Its partner, Canada's Africa Oil Corp, holds the other half of the licence.
Kenyan officials have high hopes for the well and announced this month that the country would build a new refinery and pipeline network to accommodate the crude flowing out of Turkana and nearby regions.
"We want to supply the rest of Kenya with refined products from that refinery. We believe, after our discovery is found to be commercial, it should be more than we need for our domestic needs," Energy Minister Kiraitu Murungi said in August.
Tullow Kenya's managing director, Martin Mbogo, has said previously that the company believes that any oil or gas in the Twiga well would be from a different reservoir to the one tapped in March.
The British explorer also owns a 15 percent stake in an offshore well known as Mbawa. The well, about 70km east of Malindi, is operated by U.S. explorer Apache Corp.
http://af.reuters.com/article/investingNews/idAFJOE87K07Q201…
Cheers to Dknow from hotcopper!
--------------------------
Tullow Oil drills second well in northern Kenya
Tue Aug 21, 2012 2:19pm GMT
Kelly Gilblom
NAIROBI (Reuters) - British explorer Tullow Oil has begun drilling a well in northwest Kenya, its first since discovering oil in the African country's Turkana region in March, company officials said on Tuesday.
The well is part of a flurry of exploration activity in east Africa, which has become a petroleum exploration hub after recent finds in Uganda, Tanzania and Mozambique.
Tullow hopes the new Twiga-1 wildcat well will repeat the success of its Ngamia-1 well. Twiga-1 is on Block 13T, about 30km west of Ngamia-1, which is being tested for commercial viability
"It's a lesser risk than when we were drilling Ngamia-1, but the only way to know what's in there is to drill." company spokeswoman Anne Kabugi told Reuters.
The well's target depth is about 3,000 metres and will take several months to complete, Kabugi said.
Tullow, the largest exploration licence holder in Africa, has a 50 percent stake in the Block 13T licence. Its partner, Canada's Africa Oil Corp, holds the other half of the licence.
Kenyan officials have high hopes for the well and announced this month that the country would build a new refinery and pipeline network to accommodate the crude flowing out of Turkana and nearby regions.
"We want to supply the rest of Kenya with refined products from that refinery. We believe, after our discovery is found to be commercial, it should be more than we need for our domestic needs," Energy Minister Kiraitu Murungi said in August.
Tullow Kenya's managing director, Martin Mbogo, has said previously that the company believes that any oil or gas in the Twiga well would be from a different reservoir to the one tapped in March.
The British explorer also owns a 15 percent stake in an offshore well known as Mbawa. The well, about 70km east of Malindi, is operated by U.S. explorer Apache Corp.
http://af.reuters.com/article/investingNews/idAFJOE87K07Q201…
ich gebe hier kein stück aus der hand, a great company is born!!
Antwort auf Beitrag Nr.: 43.533.348 von gimo211 am 25.08.12 17:27:21Stück für Stück werden Deine Annahmen immer mehr bestätigt gimo211, Glückwunsch zu dieser Weitsicht !!!
http://www.ventures-africa.com/2012/08/africa-oils-kenya-eth…
Africa Oil’s Kenya & Ethiopia Oil Prospects Triple
Posted on August 24, 2012 09:51 am under Business, Energy, Strategies & Solutions
Enlarge image
VENTURES AFRICA – Canadian oil exploration company, Africa Oil Corporation has raised fresh hopes that Kenya’s oil find could be commercially viable after the firm tripled its estimates of quantities of oil in blocks it is prospecting.
Africa Oil has reportedly increased its overall prospective resource base to 9.3 billion barrels, up from 3.7 billion barrels it had earlier estimated for its total blocks. The firm has exploration interests in Kenya, Ethiopia and Puntland (Somalia).
Africa Oil has released an updated independent assessment of the Company’s contingent and prospective resources on its Kenyan and Ethiopian exploration properties undertaken by Gaffney, Cline & Associates.
“Gaffney Cline’s independent assessment confirms the enormous resource potential of our enviable East Africa onshore acreage. We are pleased that the investment to date in our aggressive exploration program has yielded these results showing a considerable increase in the prospective resources assigned to a growing number of leads and prospects,” said Keith Hill, Africa Oil’s President and chief executive officer.
Earlier this week, Africa Oil and its partner Tullow Oil plc announced they had begun drilling a well in northwest Kenya- Twiga South-1 exploration well located in onshore Block 13T.
Tullow holds a 50 percent working interest and will be using the Weatherford 804 rig that was used to drill Ngamia-1 where oil was first discovered early this year.
“The Twiga South-1 well represents the next step in expanding the play northward into the Lockichar basin and proving up the ‘string of pearls’ concept along the main basin bounding fault. We also look forward to the arrival of the additional two drilling rigs which will allow us to evaluate whether the Tertiary trend extends into southern Ethiopia and to test the Cretaceous rift in north-central Kenya. We continue to be highly optimistic that the early success we have seen to date will extend into these other areas.” said Hill.
According to Africa Oil, the Ngamia-1 oil discovery has resulted in a considerable increase in the geological chance of success.
“We continue to aggressively explore with three seismic crews active and a continuous drilling program that is expected to have three rigs under contract by the end of 2012. We expect the next 18 months to be transformational for the Company as we will continuously drill high impact exploration targets.” said Hill.
East Africa is set to become a hub for oil and natural gas following recent discoveries in Kenya, Uganda and Tanzania.
Africa Oil’s Kenya & Ethiopia Oil Prospects Triple
Posted on August 24, 2012 09:51 am under Business, Energy, Strategies & Solutions
Enlarge image
VENTURES AFRICA – Canadian oil exploration company, Africa Oil Corporation has raised fresh hopes that Kenya’s oil find could be commercially viable after the firm tripled its estimates of quantities of oil in blocks it is prospecting.
Africa Oil has reportedly increased its overall prospective resource base to 9.3 billion barrels, up from 3.7 billion barrels it had earlier estimated for its total blocks. The firm has exploration interests in Kenya, Ethiopia and Puntland (Somalia).
Africa Oil has released an updated independent assessment of the Company’s contingent and prospective resources on its Kenyan and Ethiopian exploration properties undertaken by Gaffney, Cline & Associates.
“Gaffney Cline’s independent assessment confirms the enormous resource potential of our enviable East Africa onshore acreage. We are pleased that the investment to date in our aggressive exploration program has yielded these results showing a considerable increase in the prospective resources assigned to a growing number of leads and prospects,” said Keith Hill, Africa Oil’s President and chief executive officer.
Earlier this week, Africa Oil and its partner Tullow Oil plc announced they had begun drilling a well in northwest Kenya- Twiga South-1 exploration well located in onshore Block 13T.
Tullow holds a 50 percent working interest and will be using the Weatherford 804 rig that was used to drill Ngamia-1 where oil was first discovered early this year.
“The Twiga South-1 well represents the next step in expanding the play northward into the Lockichar basin and proving up the ‘string of pearls’ concept along the main basin bounding fault. We also look forward to the arrival of the additional two drilling rigs which will allow us to evaluate whether the Tertiary trend extends into southern Ethiopia and to test the Cretaceous rift in north-central Kenya. We continue to be highly optimistic that the early success we have seen to date will extend into these other areas.” said Hill.
According to Africa Oil, the Ngamia-1 oil discovery has resulted in a considerable increase in the geological chance of success.
“We continue to aggressively explore with three seismic crews active and a continuous drilling program that is expected to have three rigs under contract by the end of 2012. We expect the next 18 months to be transformational for the Company as we will continuously drill high impact exploration targets.” said Hill.
East Africa is set to become a hub for oil and natural gas following recent discoveries in Kenya, Uganda and Tanzania.
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