Africa Energy Corp (HPMCF)

[korpin]

this is one of those stocks that I am just going to forget about for now....as long as al shabib or whatever they are called still control parts of the region its too dangerous...U.S. special forces got turned back from the region because of fierce resistance after the Kenyan mall attack.

Maybe horn can negotiate a longer term for the blocks until things are more stable....they said they were going to do some exploratory seismic or something in 2014 I think it would be wiser to extend the leases and wait a few years

[RobinT]

Anyone having trouble completing trades on Horn??

[Tamtam]

It beats me that Horn isn't affected by the AOI news or spudding news

[RobinT]

Selling going on but no news?

[Tamtam]

Nice rise yesterday , is there something in the make?

[RobinT]

Interesting speculation on SH regarding politics causing pause in progress....and oil find but mums the word for security concerns. My mobile connection isn't good tho do I can't give good access here.

[Tamtam]

Maybe this is a good opportunity too

Wed, Aug 07, 2013 12:00 - Horn Petroleum Corp (HPMCF: OTC Link) - Venue Change - The symbol, HPMCF, no longer trades on Grey Market. As of Wed, Aug 07, 2013, HPMCF trades on OTC Link. You may find a complete list of venue changes at otcmarkets.com.


Tamtam

[Superoilhunter]

Now is IMO is the time to stock up on horn shares with any extra cash you have and add a long the way until she blossoms. That's how u play Lundin companies .. They will find a way to make this work. Buy now and wait for the thunder to come, not the other way around. Good luck ..will be here for the long haul.

[dat_51or]

Here's a cool video on drilling and fracturing from Range Resources. (Range is a 20% owner in our two Puntland blocks)

http://www.directorstalk.com/new-video-range-resources-vertical-and-horizontal-drilling/

Best,
dat

[RobinT]

Hopefully it will complement Horn's activities and shorten the timeline.

[Tamtam]

Wonder what this will do to the sp?

. The Company is also pleased to announce that the Sabisa-1 well, the most northerly well drilled in the trend to date, has confirmed a viable hydrocarbon system in this region. The well was drilled on the South Omo Block in Ethiopia in the northern portion of the Turkana Basin, over 300 kilometers north of the Ngamia and Twiga discoveries, to a total depth of 2082 meters. The well encountered reservoir quality sands, oil shows and heavy gas shows indicating an oil prone source rock and a thick shale section which should provide a good seals for the numerous fault bounded traps identified in the basin. Only the lowermost sands appear to be in trapping configuration at Sabisa. Based on the encouragement of the results of this well however, the decision has been made to drill the nearby Tultule prospect which appears to be a horst-block structure 4 kilometers to the east. The OGEC 75 rig move has been initiated and a late third quarter spud is expected. Numerous additional follow-up prospects have been mapped in this part of the South Omo Block and in the adjacent Chew Bahir Basin



Tamtam

[Tamtam]

Tullow to announce Sabisa results next wednesday

http://www.tullowoil.com/index.asp?pageid=119

Tamtam

[Tamtam]

Sabisa-1 results by the end of the month?

[Tamtam]

Nice rise yesterday, is something leaking?

[dat_51or]

Horn grants 200,000 options to Company officers and hires a new COO...fyi.
dat

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2013) -Horn Petroleum Corporation ("Horn" or the "Company") (TSX VENTURE:HRN) is pleased to announce that effective May 1, 2013, Mr. Mark Dingley joined the Company as Chief Operating Officer. Mr. Dingley has also been appointed President of Africa Oil Ethiopia B.V., a subsidiary of Africa Oil Corp. ("Africa Oil"). Africa Oil holds an approximate 45% equity interest in Horn and provides the management of the business. Mr. Dingley will be based out of Africa Oil's Addis Ababa office.

Mr. Dingley has 14 years of oil industry experience including 12 years with Talisman Energy Inc. where he served as Vice President, Middle East Operations as well as General Manager, Peru; Manager, Corporate Security & Surface Risk; and Manager, Government Affairs & Deputy General Manager, Sudan. Prior to entering the oil industry Mark spent 4 years working in the mining industry in various locations through Africa and he also served in the British Military for 12 years. His education includes both Bachelors and Masters degrees in Law from Canterbury, UK and he has also completed an Executive MBA at Harvard Business School. Mark was born and educated in Kenya.

Mr. Keith Hill, Chairman of Horn, commented, "We are very pleased to have been able to attract Mark to our organization and his skill set will be of great benefit to the Company as we move to conduct further operations in Somalia. Mark has extensive experience and knowledge throughout Africa which will assist us as we look to expand our operations in the region."

The Company also announces that it has granted an aggregate of 200,000 incentive stock options to certain officers, directors, and other eligible persons of the Company. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $0.19 per share.

Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32527285&l=0&r=0&s=HRN&t=LIST#1Wj8ZZgLVTo4Jk09.99

[Tamtam]

Thanks dat
TT

[dat_51or]

From Sophia....re: Horn exploration contracts

Sent: Monday, April 22, 2013 9:57 AM
To: Sophia Shane
Subject: Horn question - are we loosing Nugaal?

Hello Sophia,

I'm hoping you or someone associated with Horn can address the impact of this recent action by Somalia's central government.

http://origin-www.bloomberg.com/news/2013-04-22/somalia-targets-shell-eni-for-oil-gas-output-sharing-contracts.html

Is Nugaal one of the blocks that are being re-awarded by the Somalian government or is it excluded from that process?

Can someone give an assessment as to the risks that we will or could loose Nugaal to the former block holder Conoco Phillips?

Thanks for the help.

Her reply...

Good morning!

Although we recognize that there is certainly risk over this issue, we still think the chances are that we won’t have a problem because Puntland and Somaliland have remained firm over the contracts.

Best regards,

Sophia

[Tamtam]

It could be a good move korpin, things are changing rapidly there and Sabisa could prove first oil.
Tamtam

[korpin]

BOUGHT A FEW thousand under .20 figure its a good risk....reading more and more about somolia on the political front as well as many nations sending military there....

[Tamtam]

Somebody just bought 300K of Horn shares the last minute and gave a 4,5% more

[dat_51or]

Horn's Year End Report...

March 26, 2013 (HRN–TSXV)… Horn Petroleum Corporation (“Horn” or the “Company”) is pleased to announce its financial and operating results for the year ended December 31, 2012.



· During the year ended December 31, 2012, Horn increased its investment in intangible exploration assets by $34.3 million. The majority of the costs incurred during 2012 related to drilling the Shabeel-1 and Shabeel North-1 exploration wells in the Dharoor Valley block. The remaining expenditures are PSA related expenditures and general and administrative costs. The Company and its Partners fulfilled the initial exploration period work commitments under the Dharoor Valley and Nugaal Valley PSAs with the drilling of the Shabeel wells.



· While the Company was disappointed that the first two exploration wells in Puntland (Somalia) did not flow oil, the Company remains highly encouraged that all of the critical elements exist for oil accumulations. Horn recently completed demobilization of the drilling rig and associated equipment and both well sites have been restored to original condition.



· Horn and its partners have entered into the next exploration period in both the Dharoor Valley and Nugaal Valley PSA’s which each carry a commitment to drill one exploration well in each block by October 2015.



· Efforts are now focused on making preparations for a seismic acquisition campaign in the Dharoor Valley area which will include a regional seismic reconnaissance grid in the previously unexplored eastern portion of the basin as well as prospect specific seismic to delineate a drilling candidate in the western portion of the basin where an active petroleum system was confirmed by the recent drilling at the Shabeel-1 and Shabeel North-1 locations.



· As at December 31, 2012, the Company had cash of $9.5 million and working capital of $4.4 million as compared to cash of $27.6 million and working capital of $25.9 million at December 31, 2011. The Company’s liquidity and capital resource position has been reduced during 2012 primarily due to expenditures incurred on the drilling of the Shabeel-1 and Shabeel North-1 exploration wells offset partially by the non-brokered private placement which raised CAD$15.0 million in June 2012.



· Horn continues to investigate potential joint venture partnerships and also is reviewing new venture opportunities in the region.



Horn President and CEO, David Grellman, commented, “We remain very encouraged by the exploration potential of our Jurassic rift basins in Puntland. We have committed to the next exploration phase in both PSAs and plan to aggressively explore both areas to confirm this potential. We are also optimistic that the political progress in Somalia will continue and allow oil and gas exploration in the region to expand.”

Read more at http://www.stockhouse.com/bullboards/messagedetailthread.aspx?p=0&m=32380712&l=0&r=0&s=HRN&t=LIST#LixqLGMuUauSDYXz.99

[Tamtam]

First time I see Sofia so openly, now we know what to expect the comming montgs.
Tamtam

[RobinT]

HPMCF. Thanks for the update..its nice to see its still simmering.

[dat_51or]

Shareholder meeting June 3rd. And a little info from Sophia...
dat

Good afternoon!



Our shareholder meeting will be held on June 3rd here in Vancouver at 9:00 for Horn and 10:00 for Africa Oil at the Fairmont Vancouver Hotel. Will you be able to come up for it?



That’s a good idea to record the presentation – we didn’t get into the habit of doing that because it used to be so costly – but I imagine that’s changed now. The presentation itself though is on the website.



We have a big shareholder meeting in Sweden and a big one in Canada each year – I’ll request that the upcoming Canadian one get recorded.



There’s not too much to report on Horn at this time. We are looking forward to resuming our work program in Puntland. Being Puntland everything takes so much longer – but we hope to start the seismic in the second half of this year followed by drilling. Ideally we would like to have an additional partner join us before that. By the way, Shabeel wasn’t a duster – what we saw there is what gave us the encouragement to continue working in Puntland.



Best regards,



Sophia

[dat_51or]

Some news from James Philops, AOI Business Mgr on Horn - Somolia drilling was "spot on"????

Go to the bold section at the bottom of the article. I don't know what spot on means regarding the two dusters, but it sounded good? Confusing.

Note: the acquisition talk I think is refering to AOI's moves, not Horn's, IMO.

Best,
dat






AFRICA OIL WELLS DRILLING 3-4 ETHIOPIA THIS YEAR - BUSINESS MANAGER (Direct) Print
2013-02-18 08:52


ADDIS ABABA (Reuters) Africa Oil plans to drill three to four wells in Ethiopia this year, including the current Sabisa well drilled in the southern part of the country, neighboring Kenya, South Omo.

It says oil exploration company's business development manager James Phillips in an interview with the News Agency Direkt in the Ethiopian capital Addis Ababa.

"We drill Sabisa now and then, we are in discussion with the operator Tullow whether to drill one to two wells in the South Omo block where Sabisa located. Since it is a well in Block 8, in the Ogaden area, with operator New Age which we believe will begin by June. Possibly there could be as early as May, but my assessment is that there still lingers into June, "says business development manager.

He continues:

"My best estimate is still that the total of three wells this year, although it could possibly be four."

In the Ethiopian Adigala block, near the border with Somalia and Djibouti, the company does not socialize with any plans to drill.

"No, we have no intentions to drill and we have not committed ourselves to carry out seismic survey either. This block is not a priority for us, we do not like it enough and hope we can bring down our share. Shall we not a partners as part we are probably not in the seismic campaign, "said James Phillips.

As for the ongoing drill again Sabisa is Africa Oil near target depth.

"We are close to the target but Tullow does not like that we accurately commenting on where we are," he concludes.

A final tax, known as a Product Sharing Agreement, the Rift Valley block north of South Omo is near.

"Yes, it's close, it's just formalities left now. Overall, the agreement is very beneficial for us even if the Ethiopian government's share is marginally higher than the previous agreement., It took time to get it together, but it finds probably partly explained in the Prime Minister passed away last year, which meant that it took a long time. "

What is concerned Ogaden license in eastern Ethiopia, blocks 7 and 8, allows James Phillips understand that the company is willing to halve its current 30 percent.

"I can imagine that we could go down to 15 percent," he says.

Generally considered business development manager of the Ethiopian areas where Africa Oil operates in the very secure.

"Security risk is very, very low. Bandit gangs in our area in the country exist more or less not at all. Not even in Somalia, we had some security incidents," he notes.

For Africa Oil's associated companies Horn Petroleum now operates only in Somalia, or more specifically, Puntland, waiting somewhat different times.

"We've drilled a couple of wells in Somalia that was spot on. So we want to have a partner in the Horn while we want to acquire new licenses are likely to be outside the three countries where we operate. Mainly we look, however, other countries in East Africa. But it may also be that we end up in other African countries and even outside Africa. We look at three different approaches to Horn., we can negotiate with governments, pharmaceutical ourselves in others' licenses or we purchase smaller companies sitting on attractive assets but who have difficulty financing their operations, "said James Phillips.

Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32194918&l=0&r=0&s=AOI&t=LIST#aRehIsDCgrFzj3cU.99

[korpin]

I read Somalia will honor past claims before oil companies left due to unrest in 80's and 90's....my question is this: do horns claims overlap previous oil companies claims that may still be honored????

[RobinT]

$HPMCF. Is there a contact for horn through whom we could get updates? or does $AOIFF handle all communications? Im thinking to add to my holdings after our elections while the prices as so low

[RobinT]

$HPMCF. I would certainly hope it is false. We don't want HORN or AOIFF to act environmentally irresponsibly. I would be more inclined to believe that someone could steal whatever "cap" was put onto a well..to be sold for scrap or act as a pirates boat anchor... or as you suggested..just be a lie to influence potential stockholders.

[redinvest]

Found this on AOIFF Ihub board.

Rumor from a tweet, probably untrue, considering Horn.

" Oh boy, check out this tweet. I have my doubts on its validity, I expect the Australians are behind it.

@ahmed_yassin1: Africa Oil has left open wells in Puntland.One of them,It erupts now like volcano , dark liquid with strong smell is coming out."

Red

[RobinT]

$HPMCF. I agree. Im holding my shares of Horn for the future. Wish I could buy more now..but am trying to add a few more to my $AOIFF parent company holdings first. I would expect them to increase in tandem again.

[dat_51or]

I believe HPMCF is a good hold, especially at recent prices. We have strong leadership, a little money in the bank and very prospective blocks. Sure enough the two dusters (really water!) were a big dissapointment, but this is wildcat drilling. Going forward I wouldn't be surprised to find that drilling partners for the next steps in Somolia are being arranged now.

Here's a Sophia email posted by a long term AOI poster (on another board) as a fyi on the resuming operations ....

Dated Oct 16
Had an e mail from Sophia by marty50:

"Just confirming that we wont be resuming operations in Puntland until the New Year."

Best to the longs...
dat

[RobinT]

$HPMCF. I wonder what Horn is working on now? There were TWO blocks they were trying to develop... Maybe I'll pop over the AOIFF board and check for a mention of Somalia work.

[RobinT]

$HPMCF. Just saw on AOIFF board that Marathon is buying So Omo from a company that wants to do agricultural/cattle/foodstuff. Here's an opportunity for our "WATER WELL" to find new life as a WELL. Anyone know how to get them on this??

[RobinT]

$HPMCF. Im putting Horn on to simmer...not going to bail, expect another prospect in the future..and will have a stake already. Save that champagne for AOIFF...perhaps they will share the work with Horn and then we can all celebrate.

[kayakbob223]

RMP halted for SN news or 8/23, whichever comes first.

[korpin]

well.....guess I can put away the champagne for now and watch the value drop considerly tomorrow as some shareholders bail I guess this was an AOIFF charity project to grow community support by providing fresh water for somolians....bottled water DOES cost more per gallon than gasoline that could be the postive spin

[futrcash]

July 23, 2012--- Horn Petroleum Shabeel North Well Update


VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 23, 2012) - Horn Petroleum Corporation ("Horn Petroleum" or the "Corporation") (TSX VENTURE:HRN) provides the following update on the Shabeel North well in Puntland, Somalia.

An open hole Drill Stem Test (DST) was conducted over a 50 metre gross interval which contained several sands in the upper portion of the primary Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm Cl-) without any traces of oil. The current plan is to drill ahead to the originally planned depth of approximately 2400 metres which will penetrate the remaining section of Jesomma sands at which point the entire section will be evaluated by electrical logging to determine if further testing is warranted.

The well is being operated by Horn Petroleum which holds a 60% working interest in the Dharoor and Nugaal Valley Production Sharing Agreements ("PSA's") along with working interest partners Range Resources (20%) and Red Emperor (20%). Africa Oil Corp. holds an equity interest in Horn Petroleum of approximately 45%.

Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation's shares are listed on the TSX Venture Exchange under the symbol "HRN".

ON BEHALF OF THE BOARD

David Grellman, President and CEO

futr

[dat_51or]

AFRICA OIL SHABEEL NORTH UPDATE

July 18, 2012 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) reports that the Horn Petroleum Corporation operated Shabeel North well is currently at a depth of 1967 meters and has penetrated a 50 meter gross section of upper Jesomma sands with oil shows. An open hole drill stem test is currently underway to determine if this zone is oil or water bearing.

Regardless of the result of this test, the well will continue to drill to the base of the Jesomma sands to evaluate any additional lower Jesomma potential pay zones.

And and important follow-up email from Sophia clarifies the water oil comment (from another board, 7.19.12)....

Hi!

Just to clarify - we don't know if there is water - but with very well you drill around the world there are always several possibilities: not flowing at all, flowing oil, flowing gas, flowing water - there is often a combination of oil and water - that is quite normal - it's just a problem if the ratios are wrong. I think what there were trying to say with the release is that we've got oil shows which is great, but they put in a reminder that until we test the well, we won't really know what the well is going to flow.

Best regards,

Sophia

[futrcash]

Red Emperor's Release-

http://www.stockmarketwire.com/article/4410623/Red-Emperor-confirms-oil-shows-at-Somalia-well.html

futr

[futrcash]

July 18, 2012
Horn Petroleum Shabeel North Drilling Update

--------------------------------------------------------------------------------

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2012) - Horn Petroleum Corporation ("Horn Petroleum" or the "Company") (TSX VENTURE:HRN) reports that the Shabeel North well is currently at a depth of 1967meters and has penetrated a 50 meter gross section of upper Jesomma sands with oil shows. An open hole drill stem test is currently underway to determine if this zone is oil or water bearing.

Regardless of the result of this test, the well will continue to drill to the base of the Jesomma sands to evaluate any additional lower Jesomma potential pay zones.

Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation's shares are listed on the TSX Venture Exchange under the symbol "HRN".

ON BEHALF OF THE BOARD

David Grellman, President and CEO

http://www.rangeresources.com.au/fileadmin/user_upload/asx/AIM-Announcement-RRL-Puntland-Drilling-Update.pdf

Range's PR indicates drill stem results within 48 hours-


futr

[futrcash]

Sounds about right-

I would have guessed that establishing commerciality of Shabeel takes precedence over all other planning.

Once Shabeel is officially classified as commercial many doors will open allowing for a greatly enhanced scope of planning.

By the same token,I'm assuming we keep the rig and continue drilling somewhere.

Thanks for sharing that e-mail-

futr

[dat_51or]

Horn's drilling plans after Shabeel North....

I emailed Sophia with the following question and received a prompt answer. See Sophia's reply below. Fyi
dat


Hi Sophia,

I'm a shareholder in both HPMCF and AOIFF. Perhaps you can answer this question that has had me confused for the past couple weeks.

Recent comments by Keith Hill and Peter Landau (I think) on the next drilling site(s) seem to be different. In Sweden Mr Hill seemed to indicate that the drilling rig would stay in Dahwoor continuing drilling there. However Mr. Landau I think, is reported to have said that Horn was looking to drill in an undisputed section of the Nugaal block where we have some massive pre drill estimates.

Do you have any insights as to which location well #3 might be? Would a September spud date be reasonable, given the need to finish Shabeel North, test it and then move to Shabeel 1 for testing there in August?

Thanks ever so much and congratulations on the successes so far, with our little company.

From: Sophia Shane [mailto:[e-mail]]
Sent: Wednesday, July 11, 2012 2:27 PM
Subject: RE: Question on Nugaal

Hi!

There are no set plans yet for future drilling. We will just focus on the Shabeel wells for now as the data from these wells will help us set the priorities. Keith has mentioned a corner of Nugaal as one of several other good prospects we have but did not say we were going to drill there for sure – it was in the context of someone asking about the border dispute between Puntland and Somaliland.

Best regards,

Sophia

[dat_51or]

Horn is inching back up in SP as the drill bit enters the most prospective zone for our second well. Some on other boards speculate that RNP (our 20% partner) may issue an update tomorrow. Would be nice. I'd guess that AOI or HPMCF will issue press at the same time (if it happens).

I'm waiting for positive news on S North, then flow testing on both wells and ultimately an announcement that the two wells are commercial. Commercial declaration will set a new floor in SP, IMO. $3 ???

Looking good...just got to be patient.

dat

[futrcash]

One step at a time-

First off it'll take the better part of a decade,or two to develop the leases under the best of circumstances,and then another decade or longer to deplete the reservoirs.

Assuming the partnership isn't bought out before then,I would guess management would be looking to redeploy free cash flow into other prospects,and or projects as those opportunities present themselves.

In a perfect world[at least from my point of view]management would also elect to pay shareholders a nice juicy dividend once large scale production commences-

http://www.hornpetroleum.com/i/pdf/2012-04_HRNP.pdf

futr

[korpin]

I was thinking....with most of the reports coming out to 500 million barrels as Horns share at lets say conservatively USD 2.00 per barrel profit after all expenses including Solmolia's share thats 1 Billon on a stock with a little over 100 million market cap!....thats a pretty fantastic risk to reward ratio!....my thought is 13.00 USD as a conervative price target unless more than 831 million barrels NET is discovered then whos knows?...

whats happens to Horn after all the oil is pumped out of the ground?....do they go on and explore for more wells or distibute profit to shareholders or get swallowed up in AOIFF?...ANYBODY HAVE ANY IDEAS ON THIS?

[futrcash]

Africa Oil's Shabeel-1 PR after the completion of initial drilling-

http://www.thepressreleasewire.com/client/africa_oil/release.jsp?actionFor=1615346&releaseSeq=6&year=2012

futr

[futrcash]

Some background on U.S.' 'Diplomatic' approach to Sommalia-

http://www.cod.edu/people/faculty/yearman/somalia.htm

futr

[futrcash]

Last Update on the Shabeel North Well-

that I could find was June22 at which time the well was a bit less than half way to total depth,and right on schedule-

I think it would be safe to say we're over half way there now.

http://www.rangeresources.com.au/fileadmin/user_upload/asx/ASX_RRS_Puntland_Drilling_Update.pdf
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I also found this-

Not sure if this has been posted to this board

http://www.rigzone.com/news/article.asp?a_id=117831

futr

[dat_51or]

As most of you know, Horn is partly owned by AOI, who is partnered with Tullow in Kenya.

Here's a translated article mostly on TW and AOI in Kenya, but note the references to Norn's second, Shabeel North at the end of the article.

Sounds like we may be getting sort of regular drilling updates?

dat

AFRICA OIL: UNAFFECTED by 20%-agreement in KENYA-IR (direct)
2012-06-27 11:23



STOCKHOLM (direct) To Kenyan Turkanas municipality councils according to media information has agreed with the Kenyan central Government about a 20% royalty distribution on any future oil revenues affects not Africa Oils or operator, Tullow oil's share payment to the Kenyan Government.
It says Africa Oil spokesman Robert Eriksson to news agency directly.

"The majority of revenues stay with the Kenyan Government, how it chooses to distribute their income is up to it. But we welcome the fact that a settlement seems to have been reached with the region of Turkana district. However, does not affect us because we have our binding legal agreement on how much we are paying to the Kenyan Government, "says the spokesperson.

Robert Eriksson says further media information that a member of Parliament from Turkana region would call into question how the selling process of licence 10BB, where the well Ngamia-1 is located, went to Africa in 2010 when the Oil would have bought the license for 10 million dollars.

"It may refer to the honourable Member, but we have a very solid legally binding agreements which we feel very secure with," says Robert Eriksson.

A final update on the drilling of the well Ngamia-1, in which case the depth is 2.700 metres, is expected within a week.

"That information is expected within a week," says Robert Eriksson.
Later in July is expected to even a reserve judgement about the Kenyan deposit from third parties according to the spokesperson.

As regards the ongoing drilling in brunnen Shabeel North, in Puntland, Somalia, it is quite possible that the operator Horn Petroleum where Africa Oil is the majority owner, along with other partners, will continue with regular updates on how well the progress of, discloses Robert Eriksson.
Last week came an update about the Somali drilling had reached just under 1,000 meters on its way to the target depth of 2.400 meters.


Henrik Svensson + 46 8 5191 7924
The News Agency Of Direct

https://www.avanza.se/aza/press/news.jsp?fromPage=newsModule&newsArticleId=N1912341

[RobinT]

$HPMCF. THANKS FOR PRESENTATION POST. GOOD INFO.