Replies to post #2266 on Meren Energy Inc (MRNFF)

[Scarbender]

OK, Now we are diluted by approx. 14%. Is this in addition to the already issued 25,000,000 shares? If so; Not good. On a tangential bend, and for comparison purposes, look at the Prudhoe Bay drilling area: 20 x 45 Kilometers, At least for Prudhoe Bay Trust (BPT). That started in 1978 with peak production (1980 to 1990) of 2+MM BPOE per day flowing down the pipeline. That trust is expected to end in 2027, for a total of 49 years! I think the area of exploration is Kenya for Tullow and AOC, is a much larger area with far fewer environmental restrictions. Is the PPM also a shield to hold off ambitious suitors who look at Africa with a little jealousy. Can't wait for a bidding war, say starting at $60 per share. All IMO, of course.

[douginil]

Well being over subscribed is certainly better than a poke in the eye. More dilution is never fun but AOI should be in a very good position for 2014 & 2014.

Sure hope the SP starts creeping up, I was hoping for a few $'s for end of the year gifts & tax covering.

NEWS RELEASE

AFRICA OIL INCREASES PRIVATE PLACEMENT TO $232.5 MILLION

November 28, 2012 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) reports that due to strong demand it has agreed to increase the previously announced private placement. The Company will now sell on a non-brokered, private placement basis, an aggregate of up to 30 million common shares of the Company at a price of Cdn $7.75 per share for gross proceeds of up to Cdn $232.5 million. All shares have now been placed.