the chinese are coming, page-6

“Field of dreams for the first one, not sure on the second. Hopefully Angola will provide an oilfield of dreams!”

Quite possibly. Atorney


Some of the onshore Kwanza leases are earmarked for local companies as we know, now from memory the onshore leases on historical data hold in the range of 100mbls to 400mbls+- in reserves.

I know we have talked a lot on what was being produced before the War but the RESERVES are the secret to our success.

I have my own ideas as to how big our leases could be and I’m not going to put a figure on it here, but if you liken the deep water Billion Barrel Finds, for example to what the potential of our small cap venture could have in comparison then just maybe you can see what we see.

Doubting Thomas’s will be shown the door in the not-to-distant-future.




UNE 26, 2006




INDUSTRIES

Going Off The Deep End For Oil
China and Italy fuel a frenzy in Angola

Just how wild is the bidding for good oil acreage these days? Over-the-top wild, to judge by a late May auction of tracts in the Congo Basin, off the coast of Angola. To land the licenses needed to explore three deepwater zones, oil companies from Italy, China, and elsewhere offered to pay an astronomical $3.1 billion in up-front fees (known in the industry as signature bonuses), plus $240 million to build schools and other social projects for the impoverished African country. To give a sense of the price inflation involved, in 1999, Angolan tracts in even deeper water brought in up to $350 million. The May bids were "the highest ever offered for exploration acreage anywhere in the world," says Catriona O'Rourke, an analyst at Edinburgh consultants Wood Mackenzie, which has published an analysis of data provided by the Angolans.


As a good friend of mine said “not many times will you get an opportunity to make a killing this one of them”


Cheers.