Africa Oil Corp (AOIFF)

[thinklink]

In March we heard:

"Sabisa-1 potentially more valuable than it looks

The Tullow-operated Sabisa-1 well is currently drilling in Ethiopia with a result due in the next three to four weeks. While the Sabisa Tertiary prospect offers incremental resources (the company's estimate for gross resources is 61 mmbbl), the exploration well on the prospect is technically very interesting. It is a basin probe which could demonstrate the delta play works in the Omo sub-basin. The delta play has the rewarding play in the Butiaba area in Uganda and has yielded the 300 mmbbl Jobi-Rii field, the largest single discovery to date in Uganda's Lake Albert Basin. Nevertheless, Sabisa-1 is high risk given that it is the first well to be drilling in the Omo sub-basin."

http://www.davyuk.com/davy/article.htm?id=Davy_Morning_Equity_Briefing_01032013_moneBLinkS0016C0004Cmp.htm