tomorrow is a big day...., page-10

jg, it seems African Oil is getting quite busy now the Tanganyika arrivals are on board

"Africa Oil plans to start drilling two wells in Somalia by the end of this year, after picking a suitable partner for the work"

I wonder what nationality the "suitable" partner might be. Also explains the reason for AOC not having a budget for the Dharoor.

At a guess the split will probably go, 20/30 and 50 for the new entity




http://www.nation.co.ke/business/news/-/1006/544916/-/j16f8mz/-/index.html

"Full steam ahead"

Kenya's energy minister, Kiraitu Murungi, said on Wednesday the global slowdown risked stunting the efforts of countries in the region to find oil as prospecting firms were hobbled after financing dried up.

East African officials and prospectors, however, have been buoyed by recent discoveries of hefty oil deposits in Uganda and natural gas in Tanzania.

Phillips said the global crisis would definitely weaken some companies and force consolidation, but it had not affected Africa Oil's east African plans.

"We are moving full steam ahead, this (crisis) is really not slowing us down, we see this as really an opportunity. There are already companies that have initiated conversations with us."

Africa Oil plans to start drilling two wells in Somalia by the end of this year, after picking a suitable partner for the work. Phillips also said the company was in talks with contractors to carry out seismic work in Ethiopia and Kenya.