STOCKEFELLER

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PCOGF.PK NEXT POSSIBLE OIL HUGE PLAY IN KENYA: NEED TO CHECKOUT !
NEWS FROM FRIDAY !
BTW REDINVEST ALSO NAILED AFRICAN OIL = AOIFF.PK FROM .80 TO 11.00 !
DO YOUR DUE DILIGENCE !
EXCITING TIMES ON THE WAY !
CONGRATS TO ELEPHANT HUNTER GROUP !


This message is from my private and special yahoo group who are mostly vetted in PCL. In fact this group of 62 deep pocketed researchers picked Pancontinental over 50 other up and coming junior oil explorers more thsn five years ago. Hundreds and hundreds of hours of extensive due dilligence promulgated Pancon to the spotlight and hands down winner.

go PCL, ( PCOGF : pinks )

" Apache to start drilling offshore well in Kenya

Fri Aug 10, 2012 11:13am GMT

* Kenya discovered oil deposits onshore in March
* E. Africa attracting oil and gas explorers

NAIROBI Aug 10 (Reuters) - U.S. explorer Apache Corp. plans to drill an offshore
well off the Kenyan coast soon, company executives said, expanding the search
for oil in the east African country that struck oil onshore in March.

East Africa and the Horn of the continent have become hot spots for oil and gas
exploration in recent years, spurred by new finds in countries including Kenya,
Uganda, Tanzania and Mozambique.

However, oil companies have yet to make finds offshore.

Apache will drill in an area known as the Mbawa prospect on Block L8 in the
Indian Ocean.

"Spudding is imminent," Barry Rushworth, CEO of Pancontinental Oil and Gas, one
of Apache's partners with a stake in the block, said in an email to Reuters.

Apache, the operator in the block, is partnered by British firm Tullow Oil,
which made Kenya's onshore discovery this March, and Australian firms Origin
Energy and Pancontinental.

Tullow has placed the odds of the well's success at 15 percent, while
Pancontinental has estimated the well could contain as much as 4.9 billion
barrels of oil.

In 2007, Australia's Woodside Petroleum drilled Kenya's last offshore well at a
cost of nearly $100 million, but found no oil deposits and paid the government
to exit from a contract that had required the firm to drill a second well.

Apache said in July it had taken special precaution to ensure the operation goes
smoothly. It has enlisted the Kenyan Navy to protect the drillship from pirates
who have been hijacking ships in the Indian Ocean for ransom.

The well is expected to take 60 days to complete and reach 3,250 metres below
the sea in water depth of 860 metres.

"The main concern that we have with regard to security is the potential for
piracy, and with that regard, we have partnered with the navy," said Tim
Gilblom, managing director of Apache Kenya.

http://af.reuters.com/article/kenyaNews/idAFL6E8JA63T20120810?sp=true