east africa hotspot

From PCL thread(DKNOW):

The hotspot we're talking about is the so-called East African margin, offshore Somalia to the north and Mozambique to the south, and home to LNG-scale discoveries off Mozambique and Tanzania to date, with Kenya and other neighbouring countries expected to follow in time. The two small Aussies plugged into the hotspot are Far Limited (FAR) and Pancontinental Oil & Gas (PCL), both of which have about doubled in price in recent weeks. Their share price strength is a reaction to the East African margin coming into sharp focus with Shell's $US1.6 billion ($1.4bn) bid for one of the London-listed junior players in the region, Cove Energy. Thailand's PTT Exploration & Production topped that with a $US1.7bn bid.

The bids for Cove has got the market thinking about the potential for Far (Kenya) and Pancontinental (Mozambique/Kenya) to be swept up in a regional power play by the major oil and gas groups, be it at the project or corporate level.

http://www.theaustralian.com.au/business/aussies-in-the-thick-of-it-as-kalahari-takes-off/story-e6frg8zx-1226284449246