ERHC Energy Inc (ERHE)

[Julius Erving]

A good day to (almost) all, the Doc is back on the block (...11A).


EAST AFRICA'S OIL POTENTIAL

Kenya is just the latest East African nation that has discovered oil and gas riches, after a whole host of discoveries in Uganda, Ethiopia and Mozambique. The finds have transformed East Africa and is challenging West Africa's dominance in the continent's oil sector.
"East Africa's unparalleled exploration success has elevated the region to one of the world's largest resource giants," Frank Pluta, global co-head of oil and gas, Corporate Finance at Standard Chartered said in a note.
"Development of the region's enormous potential has already begun and will inevitably require considerable expertise, human resources as well as the establishment of debt and equity funds," Pluta said. "This is a very exciting time for East Africa as it prepares itself to compete on the world stage."
Energy research consultancy Evaluate Energy estimates that capital expenditures in East African energy resource may have reached around USD 12.8 billion last year 2012 - a 24% improvement over the previous year.
"In recent years, however, the East African region has become hot property for energy investors, following huge gas discoveries in Tanzania and Mozambique and oil discoveries in Uganda and Kenya," the UK-based consultancy said in a report.
"With the increase in reserves and frequency of large discoveries, the region has attracted not only majors and national oil companies, but also junior and independent oil and gas players."

http://www.zawya.com/story/Kenya_unlocks_oil_treasures-ZAWYA20131110065805/

"The real upside in Kenya may not be confined to the South Lokichar basin, but as Tullow has highlighted in its own company presentations, there are 10 additional, untested rift basins in Kenya and Ethiopia, within its 107,000 square kilometers acreage position," Bernstein's Oswald said".

These are some nice basic ingredients for a good share price appreciation in the near future, imo.