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Estimated 71 Billion Barrels...
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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Boris Boyka wrote:murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Isn't that what they are doing exactly? Are they advisors or investors?
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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mkeiy wrote:Boris Boyka wrote:murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Isn't that what they are doing exactly? Are they advisors or investors? "sound advise" it is. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. It's a listed company. how else would you expect them to push up the share price?
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. It's a listed company. how else would you expect them to push up the share price?
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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This graph is very important, I hope someone in gava has seen it (or understands it). Kenya's exploration is significant enough to be included in the world maps of oil frontiers, but more importantly, Kenyan explorations are the the cheapest in the world @ below Usd 30 per barrel. Our Turkana fields are still very viable and anyone who understands the Mzungu phsych should be able to read that from their body language and attitude towards Kenya of late. They have analysed the oil impact on our economy and have concluded that it can only be positive hence the platitudes etc, "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Obi 1 Kanobi wrote:This graph is very important, I hope someone in gava has seen it (or understands it). Kenya's exploration is significant enough to be included in the world maps of oil frontiers, but more importantly, Kenyan explorations are the the cheapest in the world @ below Usd 30 per barrel. Our Turkana fields are still very viable and anyone who understands the Mzungu phsych should be able to read that from their body language and attitude towards Kenya of late. They have analysed the oil impact on our economy and have concluded that it can only be positive hence the platitudes etc, Ati Tony Blair wants to be Jubilees adviser on projects, almost every publication be it the economist, WSJ and FT are featuring Kenya as a "Frontier" Market. "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: Elder Joined: 2/26/2012 Posts: 15,979
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Kenya proposes rules to require local stake in oil exploration firmsReuters wrote:By George Obulutsa
NAIROBI, April 30 (Reuters) - Kenya has proposed rules requiring oil exploration firms to give local investors a 5 percent stake and use local suppliers and staff for their services to get a bigger share of earnings from the new sector.
East Africa has become a hot spot for oil and gas exploration in recent years, spurred by new finds, but Kenya has yet to update its legal framework for the sector.
Tullow Oil and Africa Oil have estimated discoveries of 600 million barrels to the northwest of Kenya, and plan to submit their development plans to the government by late 2015 prior to commercial production.
The rules are expected to be passed by parliament by August along with a revised petroleum bill, said Ministry of Petroleum and Energy Principal Secretary Joseph Njoroge.
"It is to encourage utilisation of local resources, equipment, whatever is available locally must take precedence over foreign, mostly the human capital, (which) we have a lot," Njoroge told Reuters.
Oil industry analysts and observers say the law will be a boon for local companies and workers in the near-term, but that there would be need for programmes to expand capacity if Kenyans were to meet all the laid out requirements in the regulations. "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: Elder Joined: 2/26/2012 Posts: 15,979
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@hisah, What's your take on this? Business Daily wrote:Africa Oil says Ngamia-8, a well in the Lokichar Basin co-owned with Tullow Oil, has yielded 200 metres of oil improving the prospect of more finds in the region.
The firm also announced the Amosing-4 well in the same basin had been drilled and had successfully encountered 27 metres of net oil pay.
The firm added that testing of the flow in Amosing-1 and Amosing-2 wells – where oil was earlier discovered – had been completed, indicating a maximum rate of 5,600 and 6,000 barrels of oil daily respectively. The flow exceeded expectations according to the explorer. Business Daily wrote:Helios Investment Partners, which last month completed selling half its stake in Equity Bank, has taken a 12.4 per cent stake worth Sh9.5 billion ($100 million) in Africa Oil Corporation.
It will effect the buying allowing it to nominate a non-executive director through one of its investment vehicles, Stampede Natural Resources.
The investment in the oil exploration firm is expected to boost capital for drilling work in northern Kenya. "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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murchr wrote:@hisah, What's your take on this? Business Daily wrote:Africa Oil says Ngamia-8, a well in the Lokichar Basin co-owned with Tullow Oil, has yielded 200 metres of oil improving the prospect of more finds in the region.
The firm also announced the Amosing-4 well in the same basin had been drilled and had successfully encountered 27 metres of net oil pay.
The firm added that testing of the flow in Amosing-1 and Amosing-2 wells – where oil was earlier discovered – had been completed, indicating a maximum rate of 5,600 and 6,000 barrels of oil daily respectively. The flow exceeded expectations according to the explorer. Business Daily wrote:Helios Investment Partners, which last month completed selling half its stake in Equity Bank, has taken a 12.4 per cent stake worth Sh9.5 billion ($100 million) in Africa Oil Corporation.
It will effect the buying allowing it to nominate a non-executive director through one of its investment vehicles, Stampede Natural Resources.
The investment in the oil exploration firm is expected to boost capital for drilling work in northern Kenya. Fantastic news. Since the oil plunge episode mr market has cratered afol and tullow stock prices as well as other global oil sector equities. Happy times buying these fat tails for long term keeps  $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: 15,979
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Business Daily wrote:Kenya is eyeing its first crude exports by 2018 after Japan’s Toyota Tsusho completed the feasibility study and design of an oil shipment pipeline estimated at $4 billion (Sh388 billion) from Uganda to Lamu. Joseph Njoroge, the Energy principal secretary, said Thursday that the search for firms to build the mega pipeline will start in six months to December.
Kenya estimates its crude oil reserves to be about one billion barrels – which experts say is enough to make a pipeline viable even without Uganda with its estimated 6.5 billion barrels in reserves. “It is expected that the oil reserves can be monetised by 2018,” said Mr Njoroge.
“Feasibility studies for a crude oil pipeline running from Hoima in Uganda through Lokichar to Lamu have been completed. Request for proposals for the construction of the pipeline will be issued by third and fourth quarter.” "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: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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murchr wrote:Business Daily wrote:Kenya is eyeing its first crude exports by 2018 after Japan’s Toyota Tsusho completed the feasibility study and design of an oil shipment pipeline estimated at $4 billion (Sh388 billion) from Uganda to Lamu. Joseph Njoroge, the Energy principal secretary, said Thursday that the search for firms to build the mega pipeline will start in six months to December.
Kenya estimates its crude oil reserves to be about one billion barrels – which experts say is enough to make a pipeline viable even without Uganda with its estimated 6.5 billion barrels in reserves. “It is expected that the oil reserves can be monetised by 2018,” said Mr Njoroge.
“Feasibility studies for a crude oil pipeline running from Hoima in Uganda through Lokichar to Lamu have been completed. Request for proposals for the construction of the pipeline will be issued by third and fourth quarter.” Hope this will make bei ya gas ya common mwananchi cheaper . Sio exporting na pump price Ni 110
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Rank: Veteran Joined: 2/12/2008 Posts: 1,178
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How far with this crude stuff? The excitement seems to have abated
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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Who in Wazua is in the oil downstream businesses,which one is it? I know a plumber, a welder and geologist working there and already eating the fruits of the oil. To Each His Own
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Rank: Member Joined: 3/15/2009 Posts: 359
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http://www.marketwatch.com/stor...-call-2015-11-09-1173114VANCOUVER, BRITISH COLUMBIA, Nov 09, 2015 (Marketwired via COMTEX) -- Africa Oil Corp. ("Africa Oil" or the "Company") (AOI)(omx:AOI) is pleased to announce that it has entered into a definitive farmout agreement with Maersk Oil & Gas A/S, a Danish oil and gas company owned by the Maersk Group ("Maersk") whereby Maersk will acquire 50% of Africa Oil's interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration for reimbursement of a portion of Africa Oil's past costs and a future carry on certain exploration and development costs. Under the terms of the farm-out agreement, upon closing of the transaction Maersk will pay Africa Oil US$350 million as reimbursement for approximately 50% of past costs incurred by Africa Oil prior to the agreed March 31, 2015 effective date. Maersk will also reimburse Africa Oil for its acquired working interest share of costs incurred between the effective date and the closing date. Commencing on the effective date, Maersk will also carry up to US$75 million of the Company's share of development expenditures upon confirmation of resources and US$15 million of the Company's share of exploration expenditures. In addition, upon Final Investment Decision ("FID"), Maersk will also carry up to US$405 million of Africa Oil's working interest share of development expenditures for the Lokichar Development Project. The total carry amount will depend on the Lokichar Development Project meeting certain thresholds of resource growth, and the timing of first oil. The transaction is subject to host government and applicable regulatory approvals. Upon closing, the respective working interests in each of Africa Oil's blocks will be:
----- Kenya Block 10BB Africa Oil - 25% Maersk - 25% Tullow - 50%(i)
Kenya Block 13T Africa Oil - 25% Maersk - 25% Tullow - 50%(i)
Kenya Block 10BA Africa Oil - 25% Maersk - 25% Tullow - 50%(i)
Ethiopia Rift Basin Africa Oil - Maersk - 25% Marathon - 50% 25%(i)
Ethiopia South Omo Africa Oil - 15% Maersk - 15% Tullow - Marathon 50%(i) - 20%
Kenya Block 12A Africa Oil - 20% Tullow - 65%(i) Marathon - 15%
Kenya Block 9 Africa Oil - Marathon - 50% 50%(i)
(i) Denotes Operator (ii) Net Working Interests are subject to back-in rights or carried working interests, if any, of the respective governments or national oil companies of the host governments. Keith Hill, Africa Oil's CEO, commented, "We are delighted to have attracted a partner of the stature of Maersk Oil into our East Africa venture. We believe they bring significant technical, financial and infrastructure development capabilities at a critical time when the Lokichar Development and related pipeline projects are moving towards sanction. Their parent company's standing as the world's leading logistical and transportation company will provide benefits not only to the project but to the host countries as well. This transaction allows Africa Oil to keep a significant stake in the project with no additional equity financing expected prior to first oil. The resulting strength of Africa Oil's balance sheet will allow it to consider additional growth opportunities in this highly attractive acquisition and divestiture market." J.P. Morgan Securities LLC is acting as exclusive financial advisor to Africa Oil Corp on this transaction.
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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kayhara wrote:Who in Wazua is in the oil downstream businesses,which one is it? I know a plumber, a welder and geologist working there and already eating the fruits of the oil. impunity?  If Obiero did it, Who Am I?
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Rank: Member Joined: 7/17/2011 Posts: 627 Location: Mbui-Nzau, Kikumbulyu
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Rank: Member Joined: 1/24/2008 Posts: 46 Location: Embu
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Top Secret- Oil & Gas deposits in kenya are not commercially viable. I bet this is the reason why the pipeline(from UG) was rerouted. http://www.upi.com/Busin...in-Kenya/7421447757915/
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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There are very few places in the world, save perhaps the mido east, where oil drilling is commercially viable at sub $50 a barrel prices. Just check how badly the Nigerians and Venezuelans are hurting, despite their massive reserves. Kenyan deposits should be considered a (very) long term play. Forget those rash promises to start shipping oil in 2017. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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Boris Boyka wrote:mkeiy wrote:Boris Boyka wrote:murchr wrote:Boris Boyka wrote:murchr wrote:Business Daily wrote:Tullow Oil said on Wednesday that it had found oil in two new wells in the South Lokichar Basin in Turkana.
An operations update by the UK explorer found that the Ngamia-7 appraisal well found 132 metres of oil net of costs of extraction (also called net oil pay) while the Ekales-2 appraisal well found net oil pay of between 50 and 70 metres. Tullow is hogwash! it will discover and discover and diacover...but has not exported a single barrell. Foreigners know how to cheat black Africans. Where is the infrastructure? You have no roads leave alone the pipeline how do you expect them to export? FYI before they start pumping out oil, they have to know how big the resource is, is it worth the investment? Brother i know that cost analysis of mining all minerals is neccessary , but again whoever is doing exploration has to give sound advice to the gvt as regards the process and infrastructure..one thing i will say is Tullow is a bad advisor and has mastered how to eat unsuspected..did you here it wanted some huge compensation from gvt! anyway lets wait and see. maybe check out on the history of tullow. Isn't that what they are doing exactly? Are they advisors or investors? "sound advise" it is. @Murchr and @ Mkeiy how is the going? Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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