next to our Block 2B is an interesting read ----- http://www.simbaenergy.ca/data/presentation/files/SIMBA-Presentation-Website%2011-13-14.pdf
Here we go again...
...paying for services by printing money, err... shares. Amounts to the same thing. Further dilution with I guess all of us hoping we'd be at least up to 1p by now... GLA, DYOR, HAVMC (Have a very Merry Christmas!)
New Oilprice article oilprice.com/Finance/investing-and-trading-reports/Kenya-Exploration-Strong-Despite-Oil-Price-Slump.html Kenya Exploration Strong Despite Oil Price Slump Despite falling oil prices, investors betting on the longer-term-and a price rebound-should be eyeing exploration and development in Kenya's massive eastern Lokichar and Anza basins, where the big winners will be those who dig in for the long-term game. While the recent slump in oil prices could hamper exploration on a global level, Kenya and its recent finds may be more immune than other areas. In fact, exploration and production companies are cutting costs in other areas in order to shift focus to Kenya, which is poised to become the key East African oil and gas hub. Kenya appears resilient to faltering oil prices, and stocks in Kenya (NSEASI) are up 9.4% since oil prices began falling earlier this summer-in sharp contrast to the 42% plunge in Brent crude. To top it off, the International Monetary Fund is forecasting 6.2% GDP growth in Kenya. Tullow Oil (TLW) announced in mid-November that it was implementing a plan to significantly reduce its overall exploration spending and capital costs in light of falling oil prices. But its Kenyan operations will be spared from the chopping block, according to Tullow's CEO Aidan Heavey. "Our overall exploration spending will be significantly reduced and will focus primarily on East Africa where we have major basin-opening potential," he said. Other optimistic explorers such as Taipan Resources, Inc. (TSX VENTURE:TPN) (OTCQX:TAIPF) and Houston-based ERHC have like minds and are moving full-speed ahead. Both have announced plans to persist with promising exploratory drilling plans in Lokichar and Anza-despite the falling oil prices. Lokichar and Anza are two of three basins that make up the East African Rift System. The Anza basin is the largest of the African rift basins-roughly 10 times the size of Uganda's Albertine basin and Kenya's Lokichar basin. Taipan-through its wholly owned subsidiary Lion Petroleum, and in conjunction with Premier Oil-has just announced plans to begin new drilling in the Anza basin with the Badada-1 well in Block 2B, and is on track to spud the well on 28 December. Greatwall Drilling Company has already been contracted to provide the land rig, and Norwell Engineering will manage the drilling operations. Drilling is set to start before the end of the year and the well will take around 70 days to drill at an estimated gross cost of $20-$25 million. Taipan has maintained a strong momentum in Kenya and there are high hopes for the Badada-1 well, the company's first in the Anza Basin. Why all the optimism for Badada-1? That is simple: Badada-1 is testing a Tertiary Rift play, which is analogous to the massive discoveries by Tullow in Kenya's Lokichar basin and by Heritage Oil in Uganda's Albertine basin. These discoveries put Kenya and Uganda on the global oil map, and t
interesting? next to us-- http://www.proactiveinvestors.co.uk/companies/news/75560/simba-energy-plans-2d-seismic-onshore-kenya-in-q1-75560.html
You can see why so many people are of the opinion that Aim company's are so corrupt. These companies need to be stress tested like the banks, are they run for the benefit of shareholders or directors. I also believe that the directors are working under American law because they have all taken the 5th amendment ON Namibia, this being they want say anything that might incriminate themselves. And for those that say it's time to move on they were obviously not invested during all the misleading statements surrounding the Namibia drill. The directors are also using well-tested strategies these being shareholders have short memories when you dangle a carrot, keep on giving them the mushroom treatment, and the best one of all there is one Sucker born every minute. God willing we will strike oil in Kenya because if we don't this gravy-train will implode with the weight of shares and wages.
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