Interesting post by Megaoil over on the UK iii board under the...

Interesting post by Megaoil over on the UK iii board under the heading Africa Oil Farm-in Partner a Major? AOI has stated they are in advanced discussions with a Farm-in Partner to fund exploration in Puntland

From an interview with Keith Hill CEO of AOI, it appears that partner could very well be a Major Oiler

If this actually happens expect an immediate re-rating of both AOI and RRL

"But interest from major oil companies have increased sharply in recent weeks. They see now that it is possible to work in those parts of the world, also is gaining interest as a result of the findings have been made in areas that are adjacent to us," said Keith Hill .

"But the drilling CEO Keith Hill is the most excited place in Somalia in late summer"


Translated Text

Africa Oil: We hope take-over

Posted: 2010-01-19 11:00
INTERVIEW: Interest in East Africa among the major oil companies have risen sharply in recent months. Africa Oil's managing director Keith Hill expects to be acquired in 2-3 years if his company find oil. Forums
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2010 will be a very exciting year for Africa Oil. During the year planning the Canadian oil company, part of the Lundin Sphere, to carry out at least three exploration wells. The first in Kenya is ready in a few weeks. But the drilling CEO Keith Hill is the most excited place in Somalia in late summer. Then the next planned drilling in Ethiopia is the third country company is active in.

Africa Oil prospecting in areas of East Africa which is virtually unexplored, probably mainly due to the historically often been politically unstable in the region. The company is listed on the Toronto Stock Exchange.

"Africa Oil's business reflects the Lundin Group has worked historically. We like to be in places that others do not like. It usually turn out pretty quickly that it is not as bad as others think," said Keith Hill who worked in Lundin Sphere in detail 2 decades.

Why not have a prospectus alloy these areas before?
"I have no good answer to it but I'm glad we have these licenses now," said Keith Hill.

One can divide in Africa Oil's licenses in East Africa in four parts. Each area has the potential to geologically linked to the oil-rich structures that already extracted oil.

"We have four areas of interest and it is enough that we get hit in one of these areas to an investment in our stock will be a good deal. The fact that our structures are so isolated from one another so the chances that we succeed in significantly more, we do not have all eggs in one basket, "said Keith Hill.

He sees the greatest potential in Africa Oil's licenses in northeastern Somalia. Concessions which may be related to the very oil-rich areas in the pine country of Yemen on the other hand, the Gulf of Aden. Africa Oil is planning to launch its first drilling in Somalia in the late summer of this year. Somalia is a country that has been marked by much unrest, but Africa Oil's licenses are in a stable part of the country, the partially self-governing region Puntland.

How does the security situation developed over the past few months?
"It is unchanged. I think we are now beginning to prove that we can easily work in the areas we are in Somalia," said Keith Hill.

When were you last in Somalia?
"Just before Christmas, it was a pleasant journey."

In Kenya and Ethiopia sees Keith Hill does not have an essence of security risk at all. In October, started the Africa Oil's first borrrning. It is made of Block 9 in Kenya and the planned mldjupet for drilling is 5 000 meters. At the end of last week had reached the drilling of 4 000 meters and Keith Hill expects that the drilling is completed within a few weeks.

During the first quarter of Keith Hill will be working hard to sell off shares in Africa Oil's licenses. To finance the planned drilling company needs to attract more partners. Keith Hill's goal is to sell shares in drilling so expensive to Africa Oil does not pay anything for drilling