Tuesday, October 29, 2013 1:40:08 PM
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“It is still early days,’’ said Hill. “We have basically drilled four wells in the Lokichar basin [Turkana County, Kenya] with a 100% success rate and nine more prospects to drill in that basin,” he said.
The company has 100 more drillable prospects overall, he said.
Recent assessments in the area have shown that the Basin holds almost 368 million barrels of oil.
But Hill said Africa Oil plans to keep drilling until it alone can show roughly one billion barrels of reserves to either a joint venture partner of potential acquirer. The company hopes to reach that target by mid 2015.
Read more at http://www.stockhouse.com/companies/bullboard/v.aoi/africa-oil-corp?postid=21857098#CvcR58g8reiFUDU2.99
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