The Lundin name has been synonymous with large deals in the mining space (Lundin Mining and Fortress Minerals) as well as big new oil discoveries in Norway (Lundin Petroleum) over the past few weeks, however, today that trend was bucked with their African oil explorer (aptly named Africa Oil (AOI:TSX)) trading to new 52-week lows… Continue Reading

It has been over a month since the market heard operational news out from Africa Oil (AOI:TSX).  This morning, investors received a nice surprise in the form of a new gas discovery on the company’s Block 9 in Kenya.  In an upper gas interval in the Sala-1 well, the company tested 6 million cubic feet per… Continue Reading

AOI data by YCharts Lukas Lundin’s oil exploration vehicle, Africa Oil (AOI:TSX), is planning to drill at least 20 exploration and appraisal wells in the South Lokichar basin which will include exploration wells targeting 4 new oil basins.  This program is fully funded as the company raised over $450 million last year in the largest… Continue Reading

Which way is the beach? If you’re having flashbacks of Elton John singing “Candle in the Wind” or Leo helping Kate fly, don’t be alarmed. It’s not actually 1997. It sure does feel like it though. Concern over China’s inevitable potential crash and Fed tapering have sent emerging markets spinning. In response, Turkey (+5.5%), South… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly SIEM REAP, Cambodia — Just touched base here with Bob Neill, newest Angkor Gold board member. Bob is the 33-year-old executive from Medellin who handles much of Grupo de Bullet’s property syndication efforts in Colombia. He is just back from touring a handful of ANK’s properties in Ratanakiri Province.… Continue Reading

Africa Oil (AOI:TSXV) has continued its extraordinary success in Kenya with the discovery of two new large oil fields in their most recent two exploration wells. The discovery of these two new fields make it seven discoveries in seven exploration wells in Kenya. A perfect record. Although we have seen that the oil industry is… Continue Reading

Platinum Group Metals (PTM:TSX) is set to resume trading this morning after announcing yesterday that it would be completing a $175 million bought deal financing led by BMO Capital and GMP Securities.  The stock has performed well this year, up over 50% YTD thanks to successful development of their Western Bushveld Joint Venture where they… Continue Reading

Africa Oil (AOI:TSXV), the east African oil explorer and Lundin Group Company, has found a fifth consecutive oil discovery in Kenya.  The Agete-1 exploration well in block 13T (50% non-operated working interest, Tullow Oil is 50% operator), has discovered and sampled movable oil with an estimated 100 metres of net oil pay in good-quality sandstone reservoirs. The… Continue Reading

East African oil and gas explorer, Africa Oil (AOI:TSXV) has shutdown two significant oil blocks; Block 10BB and Block 13T.  According to the release, AOI’s operating partner, Tullow Oil has agreed to shutdown activities at these two blocks in Kenya due to local protests surrounding employment issues.  The release notes that this is a precautionary… Continue Reading

Lukas Lundin’s Africa Oil (AOI:TSXV) announced a $450 million brokered private placement.  The company is issuing 56.5 million shares at $8.25 per share and will be placed on a best efforts basis through Citigroup, Dundee and Pareto Securities.  The company claims to have good support for this financing with its existing shareholders as well as… Continue Reading

Lundin Group company, ShaMaran Petroleum (SNM:TSX), received good news on the development of its Atrush block located in the Kurdistan region of Iraq.  The company and its partners received approval from the Kurdistan regional government for the first phase of development there.  This approval allows for a 25-year development license which allows SNM, TAQA and… Continue Reading

THE CALANDRA REPORT: Subscribe Concordia Resource Corp. – one of Canada’s most puzzling metals equities – is gaining a DRC Congo nickel, copper and cobalt property and another, copper and gold, in Australia. Concordia (CCN in Canada) explains that pending shareholder approval it also shall distribute shares of a new Argentina-focused explorer to shareholders. That’s… Continue Reading

The Lundin Group’s Africa Oil (AOI:TSXV) announced this morning that it has discovered oil on its Block 13T in Kenya, which indicate a potential pay zone of 60-100m.  This further derisks and represents the fourth consecutive significant oil find in the East African Rift Basin.  The company holds a 50% working interest with operator Tullow… Continue Reading

This morning Keith Hill’s Africa Oil (TSXV:AOI), which is developing oil discoveries in the East African Rift Basin System, said that the company suffered no injury during the weekend’s mall attack in Nairobi. We join Africa Oil in extending our prayers to those who remain affected by the tragedy. Read: Africa Oil Reports on Security Situation in Kenya… Continue Reading

Yesterday Stockwatch reported that well known Canadian financier Frank Giustra was rolling back his public shells. These are the vehicles he has historically used to launch new natural resources ventures. Frank Giustra’s Royce Resources Corp. (ROY), last at 1.5 cents, will ask shareholders at its AGM on Oct. 17, 2013, to approve a 1:10 rollback. The shell… Continue Reading