"There is still ample opportunity for investment in relatively low-cost environments, however. In Senegal, Africa Petroleum has indicated that the company has no plans to cancel projects. Because of stalled projects south of Senegal, rig prices have fallen, creating areas in the oil-rich Cairn fields of Senegal that are drastically cheaper to drill – $30 to $50 million there, versus $200 million in Angola."
AOQ Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held
