Afren are just about ready to spud a well on the Keta block...

Afren are just about ready to spud a well on the Keta block which is very close to the Accra block. I believe the rig is on the block awaiting spudding the well. This could be a big impact on RIA should they manage to complete the acquisition of the 18% of Accra.

Afren actually have the best slide that I have seen in this area of Ghana on their capital markets presentation (available on www.afren.com). If you look at slide 75 it shows Accra spanning 2 different basins (I wasn't aware of this) with half the block in the Keta basin (proven finds in this basin) and the other half in the Saltpond basin, which doesn't appear to be licenced particularly well, so could be an expansion area.

I'm invested in Afren but it could be interesting for RIA holders to read this. Bear in mind where Afren were in 2005 when they listed on AIM. RIA also have a very ambitious board and management team and I would assume that RIA would like to follow in their history with Addax and Afrens footprint.

Worth watching out for the outcome of this well which hopefully will be successful.