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ERHC as you and others have cited are vitually broke with very little positive to report. What happens in Chad is of no concern to ERHC either . You are stretching here as Kenya as you opined is at risk for ERHC and it is about finances and no oil on Block 11A not what is happening to Tullow. There is no comparison between the 2 companies and their problems are different as ERHC is almost burnt Toast...can you smell the stench yet?
Maybe comparible companies that have MONEY!! might be closer to your concers but not ERHC as you have been ringing that bell for years.
Ya all will be OK for ERHC when Kenya's problems are righted...NOT.
Keep bringing up other companies' Material information as if it pertains to an almost EXTINCT bellied up Minnow. IMO
Sheesh ...now I am sounding like you...LOL
Good luck on those comparibles
cheers
Midtieroil
Tullow and Africa oil exploration is not about ERHC.
Yes news is news ...but hardly Material information for ERHC
but is it relevant to this company's worries....not now as they don't have any drilling plans it seems IMO.
from Midtiers refered to post
"As I said before, I refuse to be a part of hiding material information about ERHC from shareholders or other investors. Maybe ERHC management or others want to engage in that."
cheers and keep up the good work...but keep it relevant.
thanks Midtieroil
I guess it was Block 1 with the oil shows, and Chevron and TOTAL left that too.
cheers
http://atlas-oranto.com/portfolio/sao-tome-and-principe/jdz-block-5/
ERHC exits Block 5 JDZ? 2012?.....lol...maybe ERHC should update their FAQs.
Q. What is the status of blocks 5 & 6 in the JDZ?
As indicated in the various quarterly and annual filings from ERHC in recent years, the Company’s rights in JDZ Blocks 5 and 6 are in arbitration. We have worked in recent years to improve our relations with Sao Tome government in hopes of resolving issues related to those rights – and the advances we’ve been able to make in the EEZ illustrate those positive relations. The JDA recently announced the signing of a PSC with the other parties in JDZ Block 5 and it is our understanding that 15 percent interest accruing to ERHC in that Block remain intact pending resolution of the arbitration.
What ? Exited in 2012?
cheers
We know ERHC is in desperation mode and would like to keep any Block that has future value, ERHC has 22% of block 2 and held 19% of Block 5, but has been in Arbitration come side deal, for several years now. Deep Water ?... Both Blocks seem far off from more drilling.
Midtieroil
How can you conclude that ERHC has made another bad deal,(even though as we know their deals have not been too advantageous),when we know after drilling that Block 2 has estimates of aprox 60 mil bbls oil and also associated gas as well. Block 5 has not seen drilling and has no estimates from drilling. I have pretty much given up on ERHC except for tax losses, but you have repeatedly claimed, ( and I concur ), that without drilling, estimates mean diddly squat. All of a sudden you think Block 5 is better that Block 2 ?
What is your reasoning here since, closeology is not a good enough reason without any drilling on Block 5.
I guess it doessn't matter unless ERHC will be alive by the time any oil is pumped from any Block ERHC is part of.
Can you explain Why you are comparing those 2 Blocks on this issue. Is it Quantity of blocks over Quality here?
Baz
cheers
thanks to Kingpindg
http://atlas-oranto.com/portfolio/sao-tome-and-principe/jdz-block-2/
More signicantly we recognise a play extension of the toe thrust tightly folded gas charged structures abundant and sizeable on our Operated acreage JDZ Block 5 adjacent and immediately to the south of Block 2.
The location of Blocks 2 and 5 in the JDZ are analogous with respect to their Niger Delta toe thrust structural setting to the proven biogenic gas reserves on Block R in Equatorial Guinea. The analogous gas fields include the mean recoverable gas in the Silenus area now estimated at c.1.2TCF by the Block Operator. JDZ Block 2 may have comparable reserves to the Silenus area within the toe thrust setting, which would offer considerable synergies with the 4.5 TCF thought to additionally exist on JDZ Block 5. Moreover within the same play is a deeper secondary oil objective which we shall explore across both Blocks 2 and 5.
Maybe something will result in Gas found....as that seems to be sought after in the thrust toe belt formation.....in our lifetime?
https://www.ophir-energy.com/press-release/equatorial-guinea-silenus-east-1-well-result-and-resources-update/
Everyone here got slickered by management and weren't as astute as they should have been. We all mostly lost our opportunity to either get out with a profit or just a small loss. After the JDZ fiasco those opportunities dwindled for many. So, we were stuck here as there was no money in selling and only the hope of LUCK. Everyone has looked in the mirror and can admit that ERHC has been a failure because of itself , and that, we also took a shot on a minnow company that was going to be a long shot ...high risk /possible high reward play. It is time for some to see the reality here and not blame common shareholders that have lost money on this. What good bring can that bring to our reality. If you live in Canada you can get 50% tax loss back agaist gains ...so better to spend your time looking for winners to accumulate capital gains, to benifit something from ERHC. ALL MO.....as well as there doesn't appear to be a game a foot.
Good luck
don't forget Pioneer oil while you are listing companies!
Don't tell me you are giving ERHC a passing grade for their feable efforts.
They have already failed on most of their ventures...and they are barely on life support now... IMO ...SEO will not let ERHC fail?......too late!
Baz
cheers and good luck
oilnewskenya
King does this qualify?
no breakdown of costs, which is not surprising.
The Tarach-1 well which commenced drilling on April 14th 2016 in Block 11A could have cost the two joint venture partners Compania Espanola de Petroleos (CEPSA) operator* and ERHC over $25 million going by exploration and drilling expenses filed by ERHC to the United States Securities And Exchange Commission.
http://www.oilnewskenya.com/tarach-1-well-in-kenyas-block-11a-cost-cepsa-erhc-over-25m/
wouldn't get too excited as the agreement is talking about passed tense. LOL
Baz
It's there...
As of January 4 2017
http://www.oilnewskenya.com/kenyas-onshore-upstream-sector-set-to-pick-up-in-2017/
scroll down to Block 11A
Yes Krom
Interesting that ERHC's Management team has planned the fake news well,so as to hook more fish on the line to help pay their wages till August. That is when they might say ...sorry all hope is gone and the MOU has no teeth.....OUCH !!
All my opinion
Baz
AFRICA OIL PROVIDES UPDATE ON MAERSK FARMOUT TRANSACTION
May 22, 201712:17 AM Globe Newswire
May 22, 2017 (AOI-TSX, AOI-Nasdaq Stockholm) … Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to report that further to the previously announced farmout agreement between Africa Oil and Maersk Olie og Gas A/S (Maersk) (press release 4th February 2016), the companies have agreed to payment terms related to the US $75 million advance development carry. Africa Oil is due to receive equal quarterly payments of US $18.75 million at the end of each calendar quarter during 2018. Upon Final Investment Decision (“FID”) of the South Lokichar development project, Maersk may be obligated to carry AOC for an additional amount of up to US $405.0 million dependent upon meeting certain thresholds of resource growth and timing of first oil.
Africa Oil CEO, Keith Hill, commented, “We are very pleased to reach payment terms with Maersk. This agreement further strengthens our balance sheet as we move towards project sanction at the end of 2018.”
The Joint Venture Partners in the South Lokichar Basin are Tullow Oil
plc (50% and operator), Maersk 25% and Africa Oil
http://boereport.com/2017/05/22/africa-oil-provides-update-on-maersk-farmout-transaction/25%.
CEO of Africa Oil - "pleased with the 100% success in our current drill program"
May 17, 2017 (AOI-TSX, AOI-Nasdaq Stockholm) … Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to announce that the Emekuya-1 well in Block 13T, Northern Kenya has encountered approximately 75 metres of net oil pay in two zones.
Africa Oil CEO Keith Hill commented, “We are very pleased to continue our 100% success rate in the current program as we continue to build resources to enhance our ongoing development program.
https://www.avanza.se/placera/pressmeddelanden/2017/05/17/africa-oil-corp-africa-oil-announces-emekuya-1-oil-discovery-in-kenya.html
Read more at http://www.stockhouse.com/companies/bullboard#JmIRlz5EXXGIAO5F.99
who cares what
the traders are now running this board look at the Moderators.
well they can have it, as the Board is as useless as the stock is now.
have fun making chump change which still requires a large risk to make anything significant.
ya good to know how these boards work...it will save you time and effort of posting
Baz
If you are asking this question ,you haven't been reading this BB for the last 7 years or more....click on midtieroils name and all his posts about ERHC will come up....this will spare the board of posts that are lazy posts HOPEFULLY. Easy to do DD...lazyness is for traders not investors. Just look at the Moderaters on board now...YIKES!
Yup
this is probably another bit of covert action by management, I agree totally
You generalize,
I have several winners that I am taking advantage of ERHC as a capital loss
against. I have a long way yet to recover my 50% from losses.
I will eventually exit with a completed 50% loss of all.
The MO of ERHC hasn't changed since the JDZ till now. Accumulate unwanted scraps of property, hopefuly get a carry of sorts for a time /bet to find oil. Monetize a valuable property(any yet to be proven valuable)...rinse and repeat after keeping a small royalty, if possible.
So excuse me if I have an opinion from time to time. I am making no assumptions about why you are here, and think this it is worthy to hang out. IMO it won't be a place to make any significant money without having to put up an enormous gamble.
Good Luck
right ...you got it.
Chad is being relinquished....but if you read this board you would know that. Block 13 Kenya is not ERHC's .....good try there.
The JDZ.... from 14 billion to what? No one has wanted those properties for over 6 years now.
Kenya BLOCK 11A.... Dry hole with nothing planned on the horizon.
300,000,000.x $55.00 x dry hole = 0
that is where we sit....ERHC needs more than Ideas, posters' dreams/halucinations.
Cheers
been here 16 years and ERHC still on meager life support....next DNR!
Baz
IMO ...Buy all you can
Load up the Truck
The train will be leaving the station soon
To the moon alice!
LOL
ya thats why I would buy.
I am not a trading professional ....LOL
YUP
V
V
V
V
V
V
V
etc.
LOL
A highly accomplished academic with relatively no skills in running a SUCCESSFUL, aspiring oil/property holding company. They are in desperate
mode and all PN's academic acheivements, just won't cut it in a world he has little accumen in. WE are to blame for investing here,but, WE are not running this (PPP) proof positive pig..lol
All JMO... and no money in selling my shares!
Baz
Hey this could change at any second...lol
Cheers
LOL
None of these people in the videos work for ERHC any more...you are pushing too hard .
As usual back to .0001
good luck.....let us know the fortune you accumulated doing $500.00
increments.
http://www.military-technologies.net/2017/03/03/technical-update-on-processing-of-acquired-seismic-data-on-block-2a-kenya/
3 MARCH 2017 BY MILITARY NEWS
Technical Update on Processing of Acquired Seismic Data on Block 2A, Kenya
Tickers: PINX:SMBZF, XTSX:SMB
Tags: Oil & Gas
Vancouver, British Columbia / TheNewswire / March 3, 2017 – Simba Energy Inc. (the “Company” or “Simba“) (TSX Venture: SMB) (Frankfurt: GDA) (OTCBB: SMBZF) and Essel Group Middle East (“EGME”) are pleased to announce that the 2D seismic acquisition programme on Block 2A in Wajir, Kenya has been successfully completed.
The survey, which was carried out by Africa Geophysical Services Ltd. (“AGS”), has acquired a total of five hundred and twenty (520) kilometres of 2D seismic lines on the Block 2A which lies within the Mandera basin in Eastern Kenya.
James W. Dick, P. Geol., P. Eng., Chief Technical Officer of the Company stated that the data quality was excellent and its coverage combined with the historical 2D, the Full Tensor Gradiometry (“FTG”), and Passive Seismic (“IPDS”) has provided an excellent picture of the structural and depositional style of the Mandera Basin in Block 2A.
The specific aim of the seismic survey was to evaluate and detail the present prospects as well to use the enhanced quality of the data to seek out additional leads previously not identified due to old chaotic data in the Historical 2D. The survey met and exceeded all its objectives.
Currently the lines are being processed with very good results. This process should be finished in the next 30 days. Preliminary interpretations of the structural and stratigraphic data based on fast-track seismic sections is promising. The combination of the previous work and the recent data acquisition has resulted in a significant improvement in understanding the depositional environment in that there is good support between the various evaluation tools. In particular, the relationship between the FTG and the recent 2D seismic acquisition adds a much higher level of prospectively for the block.
James Dick, P.Geol., P.Eng., Chief Technical Officer of the Company, and a Qualified Person in accordance with National Instrument 51-101, has reviewed and approves the technical disclosure in this news release.
Once final data processing is complete, integrated interpretation work will begin on all existing datasets and mapping the various levels to evaluate optimum locations for drilling. The ultimate objective being to find the most optimum location for the first exploration well on block 2A. This work is expected to be completed in near future.
Punkaj Gupta, Chief Executive Officer (CEO) and a Director of Simba Energy said;
“The completion of the 2D seismic acquisition programme is another major milestone for Block 2A and we are greatly encouraged by the early interpretations of the results. The survey has shown that Block 2A contains very favourable structural and stratigraphic conditions, and we remain on course to meet our target of commencing drilling later this year.”
About Simba Energy Inc.
Simba Energy Inc. provides investors with well positioned exposure to oil and gas exploration in key areas of Africa with active onshore production sharing contracts (“PSCs”) in Kenya and Guinea and PSCs under continuing negotiation in Chad, Liberia and Ghana. Simba’s mission is to focus on onshore oil and gas potential in areas that are under-developed or not previously exploited. For further information, please visit http://www.simbaenergy.ca/
About Essel Group Middle East
Essel Group Middle East (“EGME”) is a diversified natural resources company with a focus on the exploration, development and production of oil, gas and mining assets. The group targets assets in proven basins with near-term production potential and it has operations in Kenya, Guinea, Ghana, Liberia, Chad and Eritrea. EGME is backed by Essel Group, a global conglomerate with a 40-year history spanning numerous industries including the media, packaging, entertainment, infrastructure, education and metals. For further information, please visit www.esselgroupme.com.
ON BEHALF OF THE BOARD
“Robert Dinning”
President & Director
For further information, contact: Mark Sommer at +1-604-629-9647 or Toll Free: 1–855–777–4622, or info@simbaenergy.ca .
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2017 TheNewswire – All rights reserved.
CATEGORIESUNCATEGORIZED
Tamtam,the rumours might start on your side of the Pond. If they do,I trust you will keepus up to date.
thanks
Baz
it would appear that betting the farm on the bid, or a small ranch,or even a quanset hut would be foolish here. There is no money to be made here without an enormous risk, that I believe seasoned traders would shy away from. IMO
Africa Oil Corp. (AOI), a Lundin company, lost 13 cents to $2.51 on 95,000 shares. It has moved up from around $1.90 over the last three months as it proceeds with its four- to eight-well drill program in Kenya's South Lokichar basin, where it owns assets with Tullow Oil and Maersk Oil. The assets are still in the resource-definition phase, but the joint venturers are hoping to start a production pilot as early as June, according to Tullow. A spokesman for Tullow, Dennis Okore, told CGTN Africa (part of China Global Television Network) earlier this month that the pilot will be an "enabler of full-field development" that will allow the joint venturers to firm up commercial, infrastructure and engineering details as they work with the Kenyan government on a planned export pipeline. Separately, the Kenyan government told The East African (a local news outlet) last week that samples from the South Lokichar basin have been delivered to refiners, and the refiners liked them. "European and Asian refiners have been receptive to our oil since it has low sulphur content," Andrew Kamau, an official at the Ministry of Energy and Petroleum, was quoted as saying. The low sulphur content should make refining easier. The oil is classified as light and sweet, and is expected to fetch prices in line with Brent. The joint venturers' pilot project will aim to produce 2,000 barrels a day and, as noted above, is expected to start operations in June.
Read more at http://www.stockhouse.com/companies/bullboard?symbol=t.aoi&postid=25887459#KRwRqPhI0hpCfbIi.99
APPRAISAL DRILLING COMMENCES AT AMOSING-6 WELL IN KENYA’S BLOCK 10BB
February 8, 2017 in Top News
Block 10BB operator Tullow Oil has reported that appraisal drilling has commenced at the Amosing 6 well to Amosing Updipappraise undrilled volumes located in the Amosing updip.
The continued appraisal follows the completion of Extended Well Testing in the Amosing field which commenced in May 2015 and saw production from all five zones was at a combined average constrained rate of 4,300 bopd under natural flow conditions.
Some of the cumulative volume of 30,000 barrels of oil produced into storage will be used in the Early Oil Pilot scheme that expects to truck approximately 2,000 bopd gross in the next few months.
After the Amosing 6 the rig will then move to drill the Ngamia-10 well, an appraisal well to the south of the Ngamia discovery well.
Another fourth well planned in this programme is the Etete prospect, a structure approximately 2 km south of the Etom field.
Tullow Oil has said it will evaluate this programme and could extend it by up to four additional wells depending upon the results from these initial four wells.
The commencement of appraisal activity follows the company believe that significant upside remains across the South Lokichar Basin with the potential to increase the resource estimate to over 1 billion barrels of recoverable oil.
The other partners in the block are Maersk Oil and Gas and Africa Oil all with a 25 percent share.
APPRAISAL DRILLING COMMENCES AT AMOSING-6 WELL IN KENYA’S BLOCK 10BB
February 8, 2017 in Top News
Block 10BB operator Tullow Oil has reported that appraisal drilling has commenced at the Amosing 6 well to Amosing Updipappraise undrilled volumes located in the Amosing updip.
The continued appraisal follows the completion of Extended Well Testing in the Amosing field which commenced in May 2015 and saw production from all five zones was at a combined average constrained rate of 4,300 bopd under natural flow conditions.
Some of the cumulative volume of 30,000 barrels of oil produced into storage will be used in the Early Oil Pilot scheme that expects to truck approximately 2,000 bopd gross in the next few months.
After the Amosing 6 the rig will then move to drill the Ngamia-10 well, an appraisal well to the south of the Ngamia discovery well.
Another fourth well planned in this programme is the Etete prospect, a structure approximately 2 km south of the Etom field.
Tullow Oil has said it will evaluate this programme and could extend it by up to four additional wells depending upon the results from these initial four wells.
The commencement of appraisal activity follows the company believe that significant upside remains across the South Lokichar Basin with the potential to increase the resource estimate to over 1 billion barrels of recoverable oil.
The other partners in the block are Maersk Oil and Gas and Africa Oil all with a 25 percent share.
Yes Midtier ..I was missing that extra reverse split if it happens, as I was thinking it was not near on the horizon...LOL
Thanks
Midtieroil
8 billion more shares! I thought the a/s could only be 3 billion ...what am I missing here. TIA.
TullowTULLOW OIL DISCOVERS OIL IN KENYA’S BLOCK 13T ERUT WELL
January 17, 2017 in New Discoveries, Top News
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Tullow Oil plc has announced that the Erut-1 well in, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres.
The objective of the well which was drilled ten kilometers north of the Etom-2 well was to test a structural trap at the northern limit of the South Lokichar basin and shares important characteristics. Fluid samples taken and wireline logging all indicate the presence of recoverable oil.
“This is an exciting discovery from a bold exploration well that proves that oil has migrated to the northern limit of the South Lokichar basin. This extends the known hydrocarbon limits of the basin beyond the successful Etom discovery into the underexplored northern part of the basin where we have several undrilled prospects,” says Tullow Oil exploration director Angus Mccoss.
Erut-1 which commenced drilling on December 18th 2016 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the Partnership’s future exploration and appraisal drilling programme.
“We are very pleased with this result which further confirms the potential of the northern portion of the Lokichar Basin unlocked by the Etom-2 discovery. We are very keen to expand our current drilling program to test additional prospects in the area which have now been de-risked by this discovery. Increasing discovered volumes will further enhance the development and pipeline project planning currently moving forward,” said Africa Oil CEO Keith Hill.
The PR Marriott Rig-46 drilled the Erut-1 well to a final depth of 1,317 metres and will now move to the southern part of Block 10BB where it will spud the Amosing-6 appraisal well.
Tullow Oil in its last update last week said it would consider expanding extending the programme by up to four additional wells in 2017, depending upon the assessment of the results from the initial four wells.
Tullow operates Blocks 13T and 10BB with 50% equity and is partnered by Africa Oil Corporation and Maersk Oil both with 25%.
Additional notes
— Tullow has found 25m of net oil pay. This means that we have drilled vertically through 25 metres of rock that is holding oil. We cannot yet extrapolate exactly how much oil that is but it’s very encouraging.
— This discovery is very significant and shows us that oil has migrated to the very northern part of the South Lokichar basin “the Northern Triangle” which has been underexplored thus far. This was a wildcat well and not an appraisal well so to find oil here is very encouraging indeed for the wider prospectivity of the basin and the rest of our exploration and appraisal campaign. The key message here is that finding oil this far north substantially reduces the risk when drilling other wells nearby. The fact that we have found oil here makes it much more likely we will find even more oil in the area as we explore and appraise.
— This discovery does not change Tullow’s view of view of prospective resources. We won’t be able to do that until later in our exploration and appraisal (E&A) campaign. It is important to realise that with an onshore project like this, that we will always add to our resources in relatively small steps and as we go along. This is why de-risking is so critical. However, we are on track with our 1 billion+ barrels of oil target and confirms our optimism that we can do this though the current campaign.
— The next well will be drilled at Amosing- an appraisal well. We will look at the data from the Erut-1 well and assess where to drill next in the Northern part of the basin.
hits oil in ERUT well.......north lockichar basin
Tullow hits oil in ERUT well north lockichar basinTULLOW OIL DISCOVERS OIL IN KENYA’S BLOCK 13T ERUT WELL
January 17, 2017 in New Discoveries, Top News
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Tullow Oil plc has announced that the Erut-1 well in, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres.
The objective of the well which was drilled ten kilometers north of the Etom-2 well was to test a structural trap at the northern limit of the South Lokichar basin and shares important characteristics. Fluid samples taken and wireline logging all indicate the presence of recoverable oil.
“This is an exciting discovery from a bold exploration well that proves that oil has migrated to the northern limit of the South Lokichar basin. This extends the known hydrocarbon limits of the basin beyond the successful Etom discovery into the underexplored northern part of the basin where we have several undrilled prospects,” says Tullow Oil exploration director Angus Mccoss.
Erut-1 which commenced drilling on December 18th 2016 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the Partnership’s future exploration and appraisal drilling programme.
“We are very pleased with this result which further confirms the potential of the northern portion of the Lokichar Basin unlocked by the Etom-2 discovery. We are very keen to expand our current drilling program to test additional prospects in the area which have now been de-risked by this discovery. Increasing discovered volumes will further enhance the development and pipeline project planning currently moving forward,” said Africa Oil CEO Keith Hill.
The PR Marriott Rig-46 drilled the Erut-1 well to a final depth of 1,317 metres and will now move to the southern part of Block 10BB where it will spud the Amosing-6 appraisal well.
Tullow Oil in its last update last week said it would consider expanding extending the programme by up to four additional wells in 2017, depending upon the assessment of the results from the initial four wells.
Tullow operates Blocks 13T and 10BB with 50% equity and is partnered by Africa Oil Corporation and Maersk Oil both with 25%.
Additional notes
— Tullow has found 25m of net oil pay. This means that we have drilled vertically through 25 metres of rock that is holding oil. We cannot yet extrapolate exactly how much oil that is but it’s very encouraging.
— This discovery is very significant and shows us that oil has migrated to the very northern part of the South Lokichar basin “the Northern Triangle” which has been underexplored thus far. This was a wildcat well and not an appraisal well so to find oil here is very encouraging indeed for the wider prospectivity of the basin and the rest of our exploration and appraisal campaign. The key message here is that finding oil this far north substantially reduces the risk when drilling other wells nearby. The fact that we have found oil here makes it much more likely we will find even more oil in the area as we explore and appraise.
— This discovery does not change Tullow’s view of view of prospective resources. We won’t be able to do that until later in our exploration and appraisal (E&A) campaign. It is important to realise that with an onshore project like this, that we will always add to our resources in relatively small steps and as we go along. This is why de-risking is so critical. However, we are on track with our 1 billion+ barrels of oil target and confirms our optimism that we can do this though the current campaign.
— The next well will be drilled at Amosing- an appraisal well. We will look at the data from the Erut-1 well and assess where to drill next in the Northern part of the basin.
Tullow hits oil in ERUT well.....north lockichar basinTULLOW OIL DISCOVERS OIL IN KENYA’S BLOCK 13T ERUT WELL
January 17, 2017 in New Discoveries, Top News
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Tullow Oil plc has announced that the Erut-1 well in, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres.
The objective of the well which was drilled ten kilometers north of the Etom-2 well was to test a structural trap at the northern limit of the South Lokichar basin and shares important characteristics. Fluid samples taken and wireline logging all indicate the presence of recoverable oil.
“This is an exciting discovery from a bold exploration well that proves that oil has migrated to the northern limit of the South Lokichar basin. This extends the known hydrocarbon limits of the basin beyond the successful Etom discovery into the underexplored northern part of the basin where we have several undrilled prospects,” says Tullow Oil exploration director Angus Mccoss.
Erut-1 which commenced drilling on December 18th 2016 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the Partnership’s future exploration and appraisal drilling programme.
“We are very pleased with this result which further confirms the potential of the northern portion of the Lokichar Basin unlocked by the Etom-2 discovery. We are very keen to expand our current drilling program to test additional prospects in the area which have now been de-risked by this discovery. Increasing discovered volumes will further enhance the development and pipeline project planning currently moving forward,” said Africa Oil CEO Keith Hill.
The PR Marriott Rig-46 drilled the Erut-1 well to a final depth of 1,317 metres and will now move to the southern part of Block 10BB where it will spud the Amosing-6 appraisal well.
Tullow Oil in its last update last week said it would consider expanding extending the programme by up to four additional wells in 2017, depending upon the assessment of the results from the initial four wells.
Tullow operates Blocks 13T and 10BB with 50% equity and is partnered by Africa Oil Corporation and Maersk Oil both with 25%.
Additional notes
— Tullow has found 25m of net oil pay. This means that we have drilled vertically through 25 metres of rock that is holding oil. We cannot yet extrapolate exactly how much oil that is but it’s very encouraging.
— This discovery is very significant and shows us that oil has migrated to the very northern part of the South Lokichar basin “the Northern Triangle” which has been underexplored thus far. This was a wildcat well and not an appraisal well so to find oil here is very encouraging indeed for the wider prospectivity of the basin and the rest of our exploration and appraisal campaign. The key message here is that finding oil this far north substantially reduces the risk when drilling other wells nearby. The fact that we have found oil here makes it much more likely we will find even more oil in the area as we explore and appraise.
— This discovery does not change Tullow’s view of view of prospective resources. We won’t be able to do that until later in our exploration and appraisal (E&A) campaign. It is important to realise that with an onshore project like this, that we will always add to our resources in relatively small steps and as we go along. This is why de-risking is so critical. However, we are on track with our 1 billion+ barrels of oil target and confirms our optimism that we can do this though the current campaign.
— The next well will be drilled at Amosing- an appraisal well. We will look at the data from the Erut-1 well and assess where to drill next in the Northern part of the basin.
On the other hand there is no certainty...lol
Translated article from Sweden - Results by end of month
AFRICA OIL ERUT EARNINGS BEFORE END OF JANUARY - CEO
STOCKHOLM (AFX) Drilling results of the Kenyan Erut-well is expected before the end of this month.
It says Africa Oil CEO Keith Hill in an interview with the news agency Direkt.
"We should have the results by the end of the month," he says.
Keith Hill plays down the information circulating on social media through a TV clip in which a Kenyan cabinet secretary says it already noted "good results" on Erut-drilling.
"It is too early to say anything, neither one way or the other, because we are still drilling and we have not seen the logs yet. It would be misleading to say something else, then we have to see the logs first. It has happened before we have had encouraging indications, and then we have yet drilled dry in the end, "says Africa Oil chief.
Further drilling on the front is expected appraisal wells Amosing Ngamia in February and in March, while exploration drilling Etete start in April, allows the CEO to understand.
Keith Hill believes that it is probable that the Company 2C reserves will be raised from the current 766 million barrels to 1 billion by the end of the year.
"I think it is likely that we will cross the threshold of 1 billion barrels at the end of 2017," he says.
The first Kenyan oil production is expected to take place in April this year with around 2,000 barrels per day and will be transported by truck helper. It is about the same answer as before.
Investment expenditure, capex for Lundin company in 2017 is estimated at about $ 60 million based on the basic assumption of 4 wells this year, according to the CEO.
Africa Oil has sufficient cash to be self-financing until the full-scale production in 2021, according to Keith Hill. However, he believes that the company is sold before then.
"Although we would like to be independent, I think it can be difficult, because we would be a very attractive acquisition targets by the end of 2017 or the first half of 2018. This is assuming that we are developing as planned and if oil prices rise further," says Keith Hill and believes that the acquisition temperature generally is going up in the oil sector.
Regarding oil prices, he believes that there is only one direction for the price at the moment, and that is up.
"Anything over $ 50 a barrel are good for us, and anything over 70 is really good. I think we have $ 70 by the end of 2017," he says apropos of oil prices.
Regarding the financing of the pipeline from South Lokichar to the port town of Lamu are still different scenarios - from the company to pay its share of 25 percent of the pipeline to nothing at all of the estimated total cost of approximately $ 2.2 billion.
"I still think we can get down to 10-15 percent. It said that there are parties interested in buying into the pipeline."
Keith Hill has not given up hope of a common pipeline expansion between Uganda and Kenya. However, the most likely outcome a single Kenyan pipeline, according to CEO.
Monday's deal in which the French oil giant Total buys into Tullow Oil's Ugandan assets Welcomes Lundin boss:
"It is good for us. It means that the pressure on Tullow's balance sheet is reduced and now will focus more clearly on Kenya from Tullow's side, which favors us."
On the acquisition front, the associated company Energy Africa, as Africa Oil controls a significant part, been quite active recently - and more acquisitions are sure to follow according Lundin boss:
"Do not be surprised if we get some more business soon."
Keith Hill think that the valuation of Africa Oil is ?? and believe that it can at least be doubled in future.
"If you look at our numbers and if people really become aware of our assets, while the price of oil stabilizes, you can share easily double".
http://www.bolagsfakta.se/nyheter/africa-oil-resultat-erut-innan-utgangen-av-januari-vd
Henrik Svensson, +46 8 5191 7924
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