conocophillips : still in the game

ConocoPhillips it seems have never said die: they have never relinquishde their title to the rights.

$150m spent comes at a cost, no one just walks away from that kind of money.

AOI has been approached by Conoco and its only just been made public! Have Range been approached????


AOIs website has a document under the Investors : AGM and Information Circular page: Management and Information Circular
http://www.africaoilcorp.com/i/pdf/AGM_AOI-Circular-2008.pdf

looking through this page 16 refers to:

Annual Management’s Discussion and analysis (“MD&A”)

available on Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com


A search for Africa Oil Corp documents at Sedar:

http://www.sedar.com/search/search_form_pc_en.htm

check out the Annual Information Form lodged on June 13

this has significantly more detail than elsewhere, heaps of stuff, just there waiting to be found


check out page 6:

"Title and Licence Risks

Uncertainty of Title

Although Africa Oil conducts title reviews prior to acquiring an interest in a concession, such reviews do not
guarantee or certify that an unforeseen defect in the chain of title will not arise that may call into question Africa Oil’s interest in the concession. Any uncertainty with respect to one or more of Africa Oil’s concession interests could have a material adverse effect on Africa Oil’s business, prospects and results of operations.

In November 2007 the Corporation was advised that ConocoPhillips, which entity had previously engaged in oil and gas exploration in the Nogal and Dharoor Valleys, was claiming a continued interest in certain of the concessions that comprise the blocks in which the Corporation has the right to acquire an 80% interest.

ConocoPhillips stated that its interests have not been terminated by the Somali Democratic Republic and have not been relinquished by ConocoPhillips.

The Corporation disputes ConocoPhillip’s position in respect of this matter, however, if ConocoPhillips chooses to pursue its claims, the outcome of a dispute or lawsuit cannot be predicted with any certainty."