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Big change in volume today:
over 11 million shares traded in Stockholm and over 1 million on the TSE today.
Was all that volume generated by the Lundin announcement, or is something else afoot too- rumors?
The Lundin family announced Monday they are increasing their holdings of AOIFF stock slightly by another 300k-400k shares in a largely symbolic vote of confidence in the company- me thinks!
The link provided only gets you half way to the 34page analysis. Use the search function at the link provided previously -using the search terms. Kenya & Energy to get you the rest of the way
Fwiw,Kenya Energy- an analysis October 2014 ( the link below has been lifted from a posting on the AVANZA group AOI forums- Sweden)
http://www.oxfordenergy.org/wpcms/wp-contents/uploads/2014/10/WPM-53.pdf
Fwiw, A brokerage in Sweden is reporting this morning that AOIFF will graduate from the TSX.v to the TSX big board at the end of this week with an additional listing upgrade on the corresponding Swedish / European exchange expected to occur in mid-May
Thanks for the translation of the Lukas Lundin interview posted yesterday! 'Most appreciated !!
It appears Lucas Lundin gave an interview today in the Swedish press specifically about Africa Oil and it's price swoon. That's just a guess however because unfortunately my swedish to english translator is malfunctioning for some darn reason. Maybe someone on this board will have better luck Here's the link:
http://www.di.se/#!/artiklar/2014/3/28/lundin-vi-har-inte-salt-africa-oil-aktier/
I filched this translation rendered by someone more talented than myself over at the stockhouse aoi website:
http://www.stockhouse.com/companies/bullboard/v.aoi/africa-oil-corp/1?postid=22323623
Thank You Stockbrain!
'Most appreciated!
'will keep an eye out for your podcast
So Where's the Podcast recording?
I guess I've become spoiled in the expectation that a podcast recording of all of Keith Hill's prior Stockholm presentations have been made available for viewing soon after the events have taken place. I was kind of hoping that would be the case today as well? But,perhaps not.
Someone on the Swedish Avanza bank AOI forum -who attended the event yesterday , suggested that the new event location was so dark during the presentation they couldn't take handwritten notes. Since past podcast recordings have been made by attendees using phone technology , only, maybe it was a problem this time?
But that's just speculation on my part-not backed up by fact
"CEO Presentation Boosts Positive View-Nordea" That's the translated header of a Swedish language news brief which appeared on the Avanza Bank AOI website earlier today. This is in reference to Keith Hill's Stockholm presentation on Thursday evening.
here's a link:
https://www.avanza.se/placera/telegram/2014/03/14/africa-oil-vd-presentation-starker-positiv-syn-nordea.html
Perhaps someone with more computer skills than I have can cut & paste the Swedish to English translation of the entire article to this website?
a bit off topic- I started a new stock board today for another company which Rick Rule recently endorsed: Hummingbird Resources HUMRF You may want to check it out
Hummingbird Resources is UK based mining explorer and development company with extensive operations in Liberia West Africa. They have a very good (imo) corporate website packed with interviews & tech information: http://www.hummingbirdresources.co.uk/
Please pay particular attention to recent news releases, Which I believe have been driving the stock of late, and you can decide for yourself if you feel this company might make for a worthwhile investment?
A week ago coming of the tail end of the PDAC show in Toronto, Rick Rule of Sprott was interviewed on BNN TV and named some prospective companies. One of three suggested companies he named was an unknown to me , and it aroused my curiosity. It is named Hummingbird Reources . It is a UK based gold explorer & developer listed on the London Stock exchange under symbol HUM . It also has a U.S. listing under stock symbol HUMRF. Alas it has no Canadian listing. Rules comments about Hummingbird are toward the end of the podcast.
here is a link to the Rule interview:
http://www.bnn.ca/News/2014/3/3/Rick-Rules-top-investing-ideas-Denison-Mines-Ivanhoe-Mines-Hummingbird-Resources.aspx
Stockbrain 1 at youtube has a library of past Keith Hill presentations which he has shared & made available to anyone for viewing. Hopefully something new for us to view later today?
Keith Hill back to Stockholm:
Just a Heads Up- A notice was posted on the Swedish website that Keith Hill will be returning to Stockholm for another corporate update/ presentation set for March 13 at 6:00 PM
Tullow / Aoi apparently to give up license to block 10-A ?
I assume this means no more Pai-Pai & 10A has shown limited prospectivity so far so it may not be much of a loss at least in their view?
Quote- The companies- "have decided to relinquish their license
to block 10-A where Pai Pai discovered gas last year" , and a bit further on.... " It's very remote",(presumably refering to 10-A), "we really have enough to do with lots of basins ", Heavey said, and, "we are going to concentrate on the oil basins"
documentation link:
http://www.bloomberg.com/news/2014-01-15/tullow-finds-more-kenyan-oil-boosting-east-africa-export-plans.html
Hmmm? What could this mean?
Intent to Drill - Mon. Dec. 30
Alfalfa: Superior Oil & Gas LLC,Schneider No. 4 well NW/4 SE/4 SE/4 SE/4 of 5-23N-09W
http://www.tulsaworld.com/business/oil&gasactivity/oklahoma-oil-and-gas-drilling/article_bda7d259-8b0f-51f5-b11c-aed7662b5409.html#user-comment-area
New Kenyan press articles- reposted from Swedish AOI forum:
1) "The Black Gold of Turkana"
http://www.standardmedia.co.ke/m/?articleID=2000101454&story_title=The-black-gold-of-barren-Turkana-where-stirrings-of-life-offer-promise
2)"Why Turkana Residents are yet to fully embrace oil exploration"
http://www.standardmedia.co.ke/m/?articleID=2000101453&story_title=Why-Turkana-residents-are-yet-to-fully-embrace-oil-exploration
a bit more on Credit Suisse initial coverage of AOIFF.
I wish we had the full Credit Suisse report in hand. Instead, this is just a report of a report , and is not very granular. But perhaps the full report may eventually show up> Who knows?
http://www.americanbankingnews.com/2013/12/18/africa-oil-now-covered-by-analysts-at-credit-suisse-aoi/
It looks like we're finally "on the map" ....as far as New York based financial media is concerned. 'Nice to see they're taking notice of us!
http://blogs.barrons.com/emergingmarketsdaily/2013/12/18/africa-oil-corp-good-land-good-access-to-funding-credit-suisse-says-buy/?mod=yahoobarrons&ru=yahoo
Please note: This link was originally posted to the Swedish avanza banc AOI forum last night.
Regarding Horn, KH mentioned (just paraphrasing his comments as I remember them) -Horn had been very close on some deals recently , but nothing set in concrete yet. He also said to look for something after the first of the year with respect to Horn as they are working on potential deals. As far as locations for these he mentioned west africa & maybe northwest africa? Anything else ?
Thanks Stockbrain! Excellent stuff!
P.S. to Daniel Bostrom:
Many Thanks for sharing information with this forum , yesterday
Weds. Evening Stockholm presentation recorded by Daliwest
This information was posted overnight on the Avanza Bank Swedish AOIFF /AOI forum. I am merely reposting the link to this 26 minute long presentation here. Many Thanks to Dali for recording and sharing this presentation which was delivered by Keith Hill in Stockholm last night http://daliwest.wordpress.com/
A word of warning- the sound recording is not the best quality , imho, and therefore use of earbuds is almost mandatory. But my hearing is not the best anyway, so maybe it's just me You'll just have to try it and see for yourself
Also, for those interested, there is a separate presentation applicable to the Lucara Diamond Company recorded at this same event. Lucara Diamonds is another member of the Lundin group of Companies, also operating in Africa
The link to this second presentation is same as above
Stockholm Shareholder Meeting Tuesday
Another shareholder meeting with CEO Keith Hill will take place in Stockholm next Tuesday Nov.12 at approx. 1600-1700 local time. This roughly corresponds to 1:00-2:00 east coast N.A. time.
Hopefully, a podcast recording of this event will be available for viewing shortly after.
http://www.introduce.se/artiklar/2013/11/africa-oil-afternoon-tea-1211
Voicing Opinions
Voicing opinions is what these forums are all about, and I agree with much if not all of the frustrations freely shared by people posting today today relating to the work stoppage in Kenya.
It reminded me of a similar situation I was in about ten years ago after having purchased the stock of a mining company operating in a South American country. That company ran into political difficulties, and like Tullow, through no fault of it's own ended up as sort of a political football caught up in a dogfight between two opposition political partys within the host country. This past situation I'm describing was only remotely similar to what maybe the Tullow/AOI partnership may be experiencing now but it too was very frustrating for investors.
When these past events occurred . the frustrated shareholders of the company posting on a company stock message board similar to this one, freely expressed their negative opinions about the host country often describing it in very unflattering terms. What posters to the stock message forums did not know at that time,( who-da-thunk it was possible ?), and only later found out was that particular political forces within the host country were actually monitoring the stock message forums in an effort to bring discredit upon the company and it's shareholders, by picking out the worst - most extreme posted messages, written by purported angry shareholders and using them as propaganda to bring a harsh light upon the company and it's "wealthy","gringo" shareholders. They also made sure these messages were brought before the eyes of both legislative and judicial decision makers in the host country. It was not a good situation, & just something to keep in mind when posting on a public forum. The content of your posted messages may actually matter in the host country.
Local politicians involved in protest now hiding ?
link presented any without comment
http://www.kenyan-post.com/2013/10/cid-summon-two-politicians-for-tullows.html
Here is a bit more on the company work halt , viewed from a slightly different perspective. It was posted to the Avanza Bank AOI forum & I've taken the liberty of re-posting it here:
http://www.ethnopress.se/?p=997
The original is in the Swedish language.
Red & TamTam:
Red: I wasn't offended at all by your comment . I just wanted to point out that Societe Generale is not some fly by night company. It is a very large European investment bank with plenty of capital behind it.
Tam Tam: I don't know why Societe Generale has gone against trend and downgraded AOI whereas other investment banks seem to have have upgraded recently. It appears that SocGen only began coverage of AOI for inclusion in it's equity analysis as of July, 2013 which in my view makes them rather "late to the party", no? Maybe they just take an extremely conservative approach toward equity investments in general at this time , and that may be reflected in their analysis of AOIFF & other stocks. That's just a guess on my part. It might be right or wrong?
your comment regarding SocGen- " probably one of the underfunded"
I assume you made that comment in jest, and that you are aware of the the enormous financial power behind Societe Generale Bank.
I believe their decision to either participate or not participate (we don't know at this point) in the AOI $450MM financing would lie somewhere other than finances
There are lots of firewalls in place ie WSJ-that prevent a direct link to the SocGen downgrade report. But here is a link to a series of recent AOI reports including pertinent notes on the Soc. Gen downgrade, published yesterday as well as a new one issued just this morning. It is in the Swedish language & naturally will require translation for English speakers:
http://www.aktiespararna.se/analysguiden/Hitta-Bdag/Olja-och-gas/Africa-Oil/Analyser/
My takeaway after reading the Soc. gen notes: Soc. Gen just started covering AOIFF in July and began that coverage with a hold rec. which has now been downgraded to a sell. Note - within this same report they seem to imply that they will look for a more favorable price entry point later this year in anticipation of the scheduled AOI 2014 drill program!- so they can't be that negative. jmho is all.
Thanks for sharing!!
Your all quite welcome,thanks ! 'Glad to help where I can.
while the link I posted appears to be a dead end, it is not. Hit the link anyway which will bring you to the Oilbarrel mainpage and then scroll down the list of stories to Sept 30 Tullow write up
Thanks Furcash! Just in case anyone wants it ,here's the documenting link to that Oil barrel piece:
http://oilbarrel.com/new/after-another-oil-strike-in-kenya-tullow-oil-plans-a-well-a-month-as-it-ramps-exploration-activity-in-this-fast-emerging-rift-basin
Kenya Exploration Block Maps:
http:nationaloil.co.ke/upstream/index.php?flag=upstream&ust=3
http://nationaloil.co.ke/pdf
Sweden's SEB Equity research group ( http://www.sebgroup.com/about ) sent representatives to the Kenyan analyst tour sponsored by Africa oil last week. As a result SEB has just released an updated analysis of Africa Oil, the company,including a revised near term target price as well as possible future valuation scenarios depending upon circumstances as they unfold. The new target price is $ 81 Swedish Kronor (crowns)= $ U.S. 12.69/sh.
Other, more speculative, possible future valuation #'s include $123 Kronor =$ U.S. 19.27 /share ,and $272 kronor = $ U.S. 42.62
Please note- this analysis only encompasses the Lokichar basin . It does not include any future value accruing to the company for it's other Kenyan exploration properties, nor for it's Ethiopian properties.
This report is in the Swedish language:
http://www.aktiespararna.se/analysguiden/Hitta-Bolag/Olja-och-gas/Africa-Oil/Analyser/2013/Vid-basta-scenariot-kan-Africa-Oil-vara-vard-272-kronor/