Seeking Alpha

Kenya’s first commercial oil find could generate $10B

Kenya’s first commercial oil discovery could yield $10B in revenues over a 30-year production period based on regional geological characteristics and well test results, according to consulting firm GlobalData.

Tullow Oil (TUWLF, TUWOY) and Africa Oil (AOIFF) have made five discoveries since 2012 and plan to run six rigs full time for the foreseeable future while they continue to advance exploration activities on the block.

Although Kenya’s first competitive licensing round has been put off until Q4 at the earliest, the firm thinks the delay actually could serve to build interest.

Comments (3)
  • superoilhunter
    , contributor
    Comments (16) | Send Message
    AOI is 1/4 the marketcap of Tullow.. AOI is 100% Africa.. Tullow is more spread out.. now if I were a betting man.. and of course I am.. I'd think AOI would move upwards a lot faster as this story unfolds.. as the CEOs of both companies say.. "CHAIN OF BASINS" is a better description than string of pearls.. so as they run six rigs full time for the foreseeable future this has to be one of the greatest opportunities I have come across in a long time to make many times your capital over the next 24 months.
    14 May 2014, 03:25 PM Reply Like
  • arcticchar
    , contributor
    Comments (47) | Send Message
    like AOI and will hold on to it to see the outcome. They had one called Horn that I lost $ on.
    20 May 2014, 12:50 AM Reply Like
  • mike57
    , contributor
    Comments (9) | Send Message
    The Lundin Family was behind AOI. They have made alot of people rich in many resource companies. I have been long since about $1.60 U.S. and will continue to do so. Also like Taipan, TPN.V, 2 blocks in Kenya, one which Premier has a farm-in interest in and one which Afren has.
    5 Jul 2014, 08:55 PM Reply Like
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