2187To qualify your comments it appears African Oil are deciding...

2187

To qualify your comments it appears African Oil are deciding upon their Dharoor JV partner

http://www.bloomberg.com/apps/news?pid=20601116&sid=aD48QFSQU8FE&refer=africa



Africa Oil Will Drill Well in Somalia by End of Year (Update1)
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By Eric Ombok

March 12 (Bloomberg) -- Africa Oil Corp., a publicly traded Canadian company, will drill an oil well in Somalia by the end of the year after completing seismic tests in the Horn of Africa country, Vice President James Phillips said.

The company is also planning seismic tests in Ethiopia and Kenya during 2009, he said in an interview today in the Kenyan port city of Mombasa.

Africa Oil, based in Vancouver, is seeking a partner to conduct the seismic tests, Phillips said. The survey on one of the two oil blocks in Somalia held by the company covered a 775- square kilometer (482 square miles) area, he said. The tests in Ethiopia and Kenya will cover 1,000 square kilometers and 750 square kilometers respectively, said Phillips.

Africa Oil is also looking to increase the number of exploration licenses it holds in Africa, and companies in distress or those lacking the necessary resources may provide suitable opportunities, he said.

Last month, Africa Oil acquired the Kenyan and Ethiopian assets of Lundin Petroleum AB for $20 million. The transaction is still awaiting government approval in both countries, Phillips added.

To contact the reporter on this story: Eric Ombok in Nairobi at [email protected]