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

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

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

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 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

Africa Oil (AOI:TSXV) announced its second quarter results and an update on exploration and operations. The company expects to have a fourth Tullow Oil and Africa Oil JV rig drilled and tested on the 10BB and 13T Blocks in Kenya in October 2013. AOI has also secured a fifth rig for Block 9 in Kenya… Continue Reading

Lundin Group oil junior, Africa Oil (TSXV:AOI) depended the hole of its Etuko-1 target to penetrate the Lower Lokhone formation and has hit 50m of potential net pay.  The company already hit 40m of net pay in the Auwerwer and Upper Lokhone reservoirs, so this increase in depth will be flow tested later this year… Continue Reading

“One drill hole changes the game. It’s very hard to decide who gets to make it and who doesn’t. It’s a big gate, and yet very few make it through. But you have to let them try.” — Lukas Lundin “Did you know you were getting the better end of that deal with Kinross?” I… Continue Reading