Marauder Resources EastCoast (fka MESNF)

[redinvest]

Post # of 175

exerpt :

" Tullow has drilled over 35 wells in the basin with all but one encountering hydrocarbons, proving up 1 billion barrels of oil resources, with additional 1.5 billion barrel prospective resources yet to find. Similar to the Lake Albert
Rift Basin discovery, Africa Oil's concessions have older wells, and host numerous oil seeps indicating a
proven petroleum system. Existing seismic show robust leads and prospects throughout Africa Oil's
project areas. With upwards of estimated 6 billion barrels of net prospective resources Africa Oil has
enormous upside potential.


Readying themselves for the next stage of exploration and a continuous drilling campaign, Africa Oil
went looking for exploration partners and by the end of February 2011, Africa Oil and Tullow had closed
farmout agreements in five blocks: 4 in Kenya and 1 in Ethiopia. Under the terms of the transactions
Tullow will pay Africa Oil $10 million in past costs and fund Africa Oil's working interest share of future
joint venture expenditures in these blocks until a cap of US$23.75 million is reached. Africa Oil also has
partnerships with Heritage Oil in Mali and Red Emperor Resources in Puntland (Somalia "

http://www.proactiveinvestors.com/companies/news/15789/africa-oil-corp-management-partners-and-access-to-plenty-of-cash-a-recipe-for-success--15789.html

Red