Hi Pat: Because of you and your team’s advice, my portfolio has actually shown a gain in the three years of this turbulent market. In some cases I’m up 600%! I would like your opinion on Africa Oil and Cabo Drilling. As always, your pearls of wisdom are very insightful and greatly appreciated. You are the standard by which the competition is judged! Cheers and thank you.
Africa Oil, $1.68, symbol AOI on Toronto (Shares outstanding: 212.0 million; Market cap: $356.2 million; www.africaoilcorp.com), is a Canadian oil and gas exploration company with interests in properties in Kenya, Ethiopia, Somalia and Mali.
Africa Oil plans to drill seven to 10 wells over the next 18 months. The company holds cash of $118.0 million, or $0.53 a share, so it will have no trouble funding this exploration.
Africa Oil’s east African properties are in the same geological formation as the Albertine Graben, where two U.K.-based firms, Heritage Oil and Tullow Oil, made major discoveries in neighbouring Uganda.
In addition, Tullow has agreed to help Africa Oil develop some of its properties in Kenya and Ethiopia. Tullow is the leading independent oil producer in Africa, with two major projects in Ghana and Uganda. The company also has assets in Europe, southern Asia and South America.
Africa Oil is in the very early stages of exploration. As well, it operates in countries with very high…
Privacy Policy and Terms of Use
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
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Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
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