Following Africa Oil’s successful acquisition of 775 kilometres of 2D seismic in the Dharoor Block, prospects for 2010 drilling are being finalized. Preliminary interpretations indicate the presence of robust prospects which have the potential to contain large reserve volumes.
The Company’s interpretation in the Nogal Block is complete. Excellent prospects have been identified and the first drill site has been firmed up on the Nogal South Prospect.
All preparations for the Somali drilling campaign are complete. However, drilling will only commence after agreement is reached in ongoing discussions with the new Puntland Government.
RRS Price at posting:
3.7¢ Sentiment: LT Sell Disclosure: Held
