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Estimated 71 Billion Barrels...
Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@Jonna - NENE may survive since their model is unique plus congress protection on its monopoly. This site also mentions its competitors. www.smartplanet.com/blog...ts-invisible-wires/14102$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 11/16/2011 Posts: 196 Location: united states of africa
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Aha. So, its not the only one in the game but at the same time, it has congress protection. That pretty much says it all for me. Thank you Hisah. Energy.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Royal Dutch/Shell on Monday abandoned the battle for control of gas explorer Cove Energy Plc, shocking investors and clearing the way for Thai rival PTT Exploration & Production to acquire it. http://af.reuters.com/ar...s/idAFJOE86F05620120716
GOD BLESS YOUR LIFE
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Pancontinental Oil & Gas NL (“Pancontinental”) announces the completion of the Kifaru 3D seismic survey data acquisition in its L6 exploration licence area offshore Kenya. The final data acquisition covered 778 sq km over several prospects, including the primary Kifaru Prospect, in the southern portion of the L6 licence area. Pancontinental has a 40% interest in the L6 licence, with the remaining 60% held by the operator FAR. The data will now be processed and interpreted and it is anticipated that one or more prospects will be fully defined for drilling, planned for some time in 2013 or early 2014.  Rink"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Diamonds don't come cheap. At the moment I like the cove stock nosedive. If the price dips below 200, it will be a cool buy zone 
 $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Kenya to map out new oil blocks for auction 16 Jul 2012 Kenya plans to gazette and auction off new blocks for oil and gas exploration, an energy ministry official said on Monday, after finds earlier this year led to avid interest in previous auctions. Alfred Odawa, a consultant geologist at the Energy Ministry, said British explorer Tullow Oil and Anadarko Petroleum would surrender acreage in a total seven blocks in coming weeks as required in their production-sharing contracts with the government. RINK"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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jonna wrote:Aha. So, its not the only one in the game but at the same time, it has congress protection. That pretty much says it all for me. Thank you Hisah. India's panel price crash could spark solar revolution - http://www.newscientist....k-solar-revolution.html
There is a reason why solar panel price has been crashing since Feb 2011. That money is going somewhere and far away from solar panel makers... Can you follow the money?
http://finance.yahoo.com...133921777--finance.html
http://www.msnbc.msn.com...ressuring-panel-makers/
http://www.solarenergy.n...s-2b-in-solar-farm.aspx
http://www.solarenergy.n...-be-solar-says-iea.aspx - By 2060, One-Third of the World Could be Solar Says IEA
Absolute black - http://abcnews.go.com/bl...rb-almost-all-sunlight/
http://www.natcoresolar.com/
http://www.natcoresolar....amp;id=51&Itemid=56
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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 "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Cheers Murchr! Very much appreciate your updates.
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Rank: Member Joined: 11/16/2011 Posts: 196 Location: united states of africa
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Just bought some this monday. Wacha tutengeneze pesa. Again, thank you Hisah. Energy.
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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What is being bought? Where is it being bought? And at how much? And most importantly, what do I stand to gain? And when?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Nabwire this first one will be of interest to you 1. More oil at Somali well2 East Africa: Next oil and gas region? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Thanks as always. Nimeona tu ati Rovuma basin could contain as much as 100 trillion cubic feet of gas,that sounds like alot! Are you invested in Mozambique plays? hopefully the finds spill over to Simba, Camac n Africa oil.
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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So previously they thought its at 490 feet but now its at 11,000 feet, ofcourse sielewi what exactly this means but from my math thats 22 times what they previously expected?!! Wow just tell me Africa oil is somehow involved/ affiliated, are we about to get paid or are we about to get paid??? Lets hope so!!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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US petroleum company, Marathon Oil, is set to join the Kenyan exploration industry after it signed a deal to acquire stakes in two blocks. The Houston-based company said it had agreed to acquire a 50 per cent stake in block 9 in north-eastern Kenya presently held by Canada’s Africa Oil and subject to approval by the government. Marathon Oil also plans to acquire a 15 per cent stake on block 12A in the Rift Valley presently controlled by Africa Oil and its British partner, Tullow Oil. “Africa Oil will maintain operatorship in block 9 but Marathon Oil has the right to assume operatorship if a commercial discovery is made,” Africa Oil said in a statement. Marathon Oil will pay Africa Oil an entry payment of $35 million which include prior expenditures and fund the Canadian firm’s working interests for the next three years at a maximum budget of $43.5million. http://www.businessdaily...4/-/9eiwgr/-/index.html
GOD BLESS YOUR LIFE
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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youcan'tstopusnow wrote:“Africa Oil will maintain
operatorship in block 9 but Marathon Oil has the right to assume operatorship if a
commercial discovery is
made,” Africa Oil said in a statement.
Ycsun, isnt this like shooting oneself in the foot? Im assuming that commercial discovery will be made, why would they give up operatorship? Or does giving up operatorship mean that Marathon extracts the oil but Africa oil still shares in the proceeds? Can these oil people talk in lingo that we can clearly understand coz at first I thought Marathon was getting a better deal but if operatorship just means you do the dirty work and we share in the spoils, thats great!! Lower overhead costs for Africa oil!!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Nabwire wrote:youcan'tstopusnow wrote:“Africa Oil will maintain
operatorship in block 9 but Marathon Oil has the right to assume operatorship if a
commercial discovery is
made,” Africa Oil said in a statement.
Ycsun, isnt this like shooting oneself in the foot? Im assuming that commercial discovery will be made, why would they give up operatorship? Or does giving up operatorship mean that Marathon extracts the oil but Africa oil still shares in the proceeds? Can these oil people talk in lingo that we can clearly understand coz at first I thought Marathon was getting a better deal but if operatorship just means you do the dirty work and we share in the spoils, thats great!! Lower overhead costs for Africa oil!!
Nabwire ata mimi hio maneno sijaelewa...so i sought to find out more Quote:Marathon Oil Corp. (MRO) will expand into East Africa with the acquisition of interests in two Kenyan exploration projects.
Marathon will pay $35 million to Africa Oil Corp. (AOI) for 50 percent in Kenya’s Block 9 and 15 percent in Block 12A, Africa Oil said today in a statement. It will also contribute as much as $43.5 million to Africa Oil’s exploration expenditure over the next three years.
The companies have also “agreed to jointly pursue exploration activities on an additional exploration area in Ethiopia,” Africa Oil said. At the same time, Tullow Oil Plc (TLW) has increased its stake in Block 12A to 65 percent from the earlier 50 percent share, Africa Oil said, which now holds 20 percent in the venture.
Source"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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According to the BD article, Marathon paid Africa oil $35 million for entry permit, Im just hoping BD is correct and your source is wrong. Coz if they paid $35 million to acquire their portion of the block, The Yanks will have screwed over the Canadians yet again!!! Hiyo ni pesa kidogo compared to the potential!! Na sasa hawa Africa oil, Tullow increased their stake in Block 12A na yao iko reduced!!!
Definition of operatorship: In the oil and gas industries, the right to operate a well, field or other oil source....hahaha hawa watu hawako serious, thats the only definition I'm getting. Lets just pray inamaanisha wanachafua mkono na tunasplit profits pamoja
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Rank: Veteran Joined: 11/14/2006 Posts: 1,311
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youcan'tstopusnow wrote:US petroleum company, Marathon Oil, is set to join the Kenyan exploration industry after it signed a deal to acquire stakes in two blocks. The Houston-based company said it had agreed to acquire a 50 per cent stake in block 9 in north-eastern Kenya presently held by Canada’s Africa Oil and subject to approval by the government. Marathon Oil also plans to acquire a 15 per cent stake on block 12A in the Rift Valley presently controlled by Africa Oil and its British partner, Tullow Oil. “Africa Oil will maintain operatorship in block 9 but Marathon Oil has the right to assume operatorship if a commercial discovery is made,” Africa Oil said in a statement. Marathon Oil will pay Africa Oil an entry payment of $35 million which include prior expenditures and fund the Canadian firm’s working interests for the next three years at a maximum budget of $43.5million. http://www.businessdaily...4/-/9eiwgr/-/index.html
Does Kenya Government (KRA) get any taxes from the sales of these blocks? I think there should be some capital gains tax on these oil blocks sales. Uganda changed its law to have it when the blocks started changing hands. I heard Tanzania government is even charging VAT on sale of the oil / gas blocks....who can do something about thisin Kenya?
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Estimated 71 Billion Barrels...
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