hiya guys far getting some media...

hiya guys far getting some media coverage

http://eastafricanewspost.com/index.php/east-africa-regional-news/756-east-africa-oil-projects-is-next-on-the-radar


East Africa Oil projects is next on the radar
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Category: East Africa
Published on 14 February 2012 Hits: 247
With uncertainties over oil supplies from the Gulf and Libya, and the Nigerian oil industry constantly under threat from militant criminal gangs, there's increasing interest in East African plays.

Italy's ENI and Texas-based Anadarko Petroleum recently found about $US800 billion ($748bn) worth of gas off Mozambique. Last month, the International Monetary Fund said Tanzania could become an important gas producer by the end of the decade. We have also seen Brazil's Petrobras, Britain's Heritage Oil and India's Motherland Industries enter the Tanzanian oil and gas hunt.

There will, of course, be disappointments. Royal Dutch Shell is writing off $US200 million after drilling a dry hole offshore from Tanzania.

We should also caution that the West Africa story had its ups and downs, with some investors no doubt remembering the disappointments associated with the supposed Mauritanian bonanza.

Now there is an Australian entrant, with Jacka Resources (JKA) signing a production sharing agreement with Tanzania last week.

Among others exploring in the region are Pancontinental Oil & Gas (PCL), which recently raised $15m for its Kenya projects, WHL Energy (WHN), with 21,426sq km in the shallow waters around the Seychelles, and FAR (FAR), in Kenya as part of its global spread.

It is a region to watch.

cheers billdah