Africa Oil had 555Km of seismic before they even commenced the current survey. Now they state they can mobilise drill rig till the end of 2009 in line with the PSA. Would mean actual drilling in 2010 if they extend mobilisation out to the extent of the PSA.
The cat and mouse game is still very much alive!
DEC 3, 2008 - 16:28 ET Africa Oil Seismic Program Complete in Dharoor Valley, Puntland, Somalia
View News Release in PDF Format VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2008) - Africa Oil Corp. ("Africa Oil" or "the Company") (TSX VENTURE:AOI) is pleased to announce the successful completion of a 2D seismic survey in the Dharoor Valley of Puntland Somalia. A total of 782 km of good quality vibroseis data, comprising a grid of 15 lines, were recorded by IMC Geophysical of the UK.
The Company will now move forward in processing the new survey and combining the 555 km of earlier data into our seismic database. Mapping of this combined survey should commence in early 2009 and drilling locations will be selected before the end of Q1, 2009. This will permit mobilization of a drilling rig to fulfill our drilling obligations under the Production Sharing Agreements before the end of 2009.
ON BEHALF OF THE BOARD
Rick Schmitt, President
RRS Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
