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some thoughts on possible timeline

  1. 676 Posts.
    Regarding drilling - of course there are numerous ifs & buts, but one scenario that comes to mind is based on the following:
    28/2/08
    "The contract ... covers the drilling of two wells with a two well option....Drilling will begin before the commencement deadline date of August 1st, 2008."

    and from 2/11/07
    "A drill program is also being planned for the Dharoor Block to follow the drill campaign at Nogal. The Company (Africa Oil) is scheduling a major seismic acquisition program over the Dharoor area and expects a seismic crew to be mobilized in early 2008."

    A seismic pgm was supposed to be concurrent with Nogal drilling (slide 21 of the 2/11/07 AGM presentation - also note other projections), but given the updated timeline I'm hanging out for the seismic contract to be awarded/announced - which I suspect is material to the 'two well option' clause in todays ann for back to back drilling of the Nogal, then Dharoor. Aside from all the other boxes that are regarded as needing to be ticked, iff seismic is acquired in time, once the drill bit hits the dirt I suspect we'll see 4 wells, one after the other (which also makes sense re securing rigs/mobilisation costs etc).
    Good news for the patient & wrt projected timeline (ist drill sometime July) forewarned is forearmed wrt trading/accumulating/slagging off at each other with each tick up or down ;)

 
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