My friend Pkoli,

I have not been to ghana for a while I hope to be there in June so iu will keep you posted.
I believe the impact of their oil revenue will be felt as from dec 2011 (1 yr after production).
Lately I was in kamplala last week and concluded CDS account procedure in AA ugander as per your lead. Be aware that Grace (Male) has left AA but Williams is very much around.
My AA portfolio is made of
SBU
NIC
DFCU
NVL

Officials from Ghana Stock Exchange (GSE) will be in Botswana on fact-finding mission at Botswana Stock Exchange (BSE), Botswana Guardian has learnt.

Their visit starts on 10 May 2011.
Before that, the four-member GSE team would also visit Johannesburg Stock Exchange (JSE) in South Africa. It is understood that one of the main reasons for the visit by the GSE officials is that they have been impressed by BSE operations particularly the bourse’s successful listing of a Gold Exchange Traded Fund (ETF).
Last year BSE listed a Gold ETF from Absa (South Africa), making BSE the first African bourse to have a dual listed ETF. GSE is planning to list a Gold ETF in the near future. Gold ETF has had an impressive run at the BSE. Gold ETF traded at P83, 00 when it listed and has recorded an impressive 10% growth to reach P93, 00 at present. The Ghanaian officials would be learning from BSE how they have managed to successfully list and track the ETF.
Next week BSE is also hoping to list Equity related ETF from Nedbank Capital. Product Development Manager, Thapelo Tsheole, confirmed the visit by the GSE next week. “We understand that they want to list a Gold EFT. As a result, they want to benchmark against our listed Gold ETF,” he said. Tsheole could not divulge further details. Ghana is one of the gold producing countries in Africa. Mining industry accounts for 5 % of Ghana’s Gross Domestic Product (GDP) and minerals make up 37 % of total exports, with gold contributing over 90% of the total mineral exports.
Meanwhile Public Relations Manager at GSE Diana Okine confirmed from Ghana on Wednesday that a team of four officials would be landing in Gaborone next week. “Yes, they will be coming to Botswana on a fact finding mission,” Okine told BG Business. She could not state further details on the matter. GSE has been voted the most innovative stock exchange in Africa for 2010 at the Africa Investor (Ai) prestigious annual Index Series Awards held at the New York Stock Exchange (NYSE) last September 2010. The Africa Investor Index Series Awards are the only international pan-African awards that recognise and reward Africa’s institutional investors, stock exchanges, best-performing listed companies, stockbrokers and capital market regulators. BSE can also learn a lot from GSE because unlike BSE, it operates as a public limited company. BSE is still to operate autonomously from government. The GSE also has online trading. The BSE is hoping to start online trading this year. Meanwhile the Rwandan Central Bank has also solicited help from BSE regarding Central Securities Depository (CSD) that the bourse introduced a few years ago.

@young I think you deserve an award for all the information you have shared in this thread esp for young upcoming investors. I have been looking at opportunities in investing oversees with a particular interest in australia (the 2nd resource capital of the world) and the asx came into mind. I read this interesting article today:

http://www.businessdaily.../-/plgo7sz/-/index.html

and immediately began doing my research into the firm to find that it is listed on the asx (ASX:BSE) and I was able to download the actual report:

http://www.asx.com.au/as.../pdf/41ymvk12g090br.pdf

Just some highlights I think were worth noting:
• Ore reserve estimate of 140. 6 million tonnes and increase of 20% over the previous reserve with 61% in the “proven” category.
• Ore mining and production to commence July 2013
• Life of Mine (LOM) of between 11-13 years
• Main products: ilmenite, zircon and rutile
• Expected production: ilmenite 3,490.2 kilo tonnes, rutile 884 kilo tonnes and zircon 319.7 kilo tonnes
• Product price assumptions over the entire LOM: Zircon: 2700-1700 US$/t, Ilmenite: 2200-1300US$/t Rutile 1400-1000US$/t.

Here is a look at the share price since it was listed in October 2008 as well as the largest shareholders in the firm.

http://hfgapps.hubb.com/...;vma=0&TimeFrame=M4

Shareholders: HSBC Custody Nominees Australia Ltd 15.64%, JP Morgan Nominees Australia Ltd 8.98 %, HSBC Custody Nominees Australia Ltd 6.69%, National Nominees Ltd 6.48% and JP Morgan Nominees Australia Ltd 3.40%

Numbers don’t lie,looks like the big boys have already positioned themselves.In some of the threads I have read, people are fond of talking about boarding the bus and strappping the seatbelt before departure (SMH) @young @pkoli i would like to hear your opinions on this as well as what you think in regards to investing in this company's shares with a long term outlook.

TULLOW OIL DEBUTS IN GHANA STOCK EXCHANGE
British oil producer and major stakeholder in Ghana’s Jubilee oil field, Tullow Oil today announces plans for a secondary listing of its shares on the Ghana Stock Exchange (GSE) and it is offering four million shares in Ghana.

The company in a press release issued Tuesday May 31, 2011 and copied to ghanabusinessnews.com says the offer of its shares on the GSE will give every one in Ghana the opportunity to apply for shares in Tullow and to share in the future performance of its operations across its global portfolio of assets.

“Tullow is fortunate to have played a pivotal role in delivering First Oil from the word-class Jubilee field, offshore Ghana. We would like everyone in Ghana to have the opportunity to invest in the future performance of Tullow, especially as we embark upon further exciting exploration and development activities in Ghana and across our global portfolio,” Tullow’s CEO, Aidan Heavey was cited to have said in the release.

Tullow first made known its intentions to list on both the Ghana and Uganda Stock Exchanges in January 2011. Tullow also has projects in Uganda’s nascent oil sector. The General Manager of Tullow’s Uganda operations, Brian Glover was quoted by the Telegraph newspaper as saying that after discussions with its shareholders, “the idea was welcomed by all.”

Tullow Oil has increased its stakes in Ghana’s emerging but promising oil sector. Last Thursday May 26, 2011, the company announced that it has entered into a conditional agreement to acquire the interests of EO Group Limited (EO), a Ghanaian owned-oil producer. The shares, Tullow said, consists of EO’s entire interests offshore Ghana, for a combined share and cash consideration of $305 million.

This acquisition, according to Tullow will increase its interest in the West Cape Three Points licence offshore Ghana by 3.5% to 26.4% and increase the Group’s interest in Ghana’s world-class Jubilee oil field, which it operates, by 1.75% to 36.5%.

Uganda to begin oil production this year, says Tullow


Uganda is set to start commercial oil production this year, Tullow oil, the company contracted to explore oil in the Albertine grabben, has said.
“We have planned to start extracting small amounts of crude oil which we shall supply to industries for power generation,” Tullow oil’s country manager Brian Glover said while addressing Bunyoro Kitara kingdom officials at the Omukama’s Karuziika Palace in Hoima town early this week.

Mr Glover, who made a presentation to cultural leaders in presence of the Omukama (king), estimated the amount of oil to be produced to be “initially in hundreds of barrels per day” but added that the amounts are bound to increase as production scales up gradually.

Tullow Oil plans to conduct an extended well-testing exercise to determine the flow rate of the various oil fields. The tested crude will be used to generate thermal power in the industries that will purchase it.



Heritage demands Shs964 billion refund in taxes
Mr Glover revealed that Hima Cement factory in Kasese District has expressed interest in utilising the crude oil. The budding oil industry is also expected to increase power generation which will reduce the rampant load shedding which is affecting production, especially in industries.

He revealed that plans are also in advanced stages to start a gas power project at Kabaale station in Buseruka Sub-county. “The 50 megawatt power plant will commence next year,” he added.

The government has proposed the construction of a refinery in Buseruka Sub-county, according to feasibility studies which have been conducted by the Energy ministry.

Refinery completion
Glover said the refinery project is expected to be finalised in three to five years. The company has described the area in Bunyoro where oil has been discovered as a “world class basin”.

The United Kingdom-based firm which has reportedly invested over $800 million in oil and gas exploration since 2001 has enjoyed back- to- back oil discoveries with 37 out of 38 well drilled rich oil reserves.

Although the oil explorers have so far reportedly discovered about a billion barrels of oil, experts foresee the Albertine basin having a potential of up to 2.5 billion barrel of oil.

“Together with our new partners, Total and CNOOC, Tullow is working with government to transform this discovery into a world class development,” Glover said.