All depends on Mbawa. Find a commercial deposit of oil and $1.33 is very realistic. Given the interest in the area and this being the first offshore drill in Kenya, success would mean getting swallowed by one of the big guys at a nice premium to the SP (IMO). A duster and it's nearly back to square one. I think it would fall back to about 10-12c, though will plenty more in the pipeline it would still have huge potential.
I personally think Mbawa will hit though, big time.
Range: 10c to $2.00. All hinges on there being black liquid in a hole 4km under the ocean on the other side of the world. haha love it!
It's a classic roll of the dice situation!. And if you are lucky enough to be free carried, an exciting time ahead.
JIMHO. DYOR.
going to open well ...why the change, page-8
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