Pat: Your usual pragmatic analysis please: 1) Vanoil Energy and Simba Energy: Your thoughts about these early-phase companies exploring in Africa. I think one of them is partnered with Tullow Oil, if I’m not mistaken. 2) Also more generally your opinion about the prospects for natural gas prices. As well, the future for NGLs and your best recommendations to profit from NGLs.
A: Vanoil Energy, $0.35, symbol VEL on Toronto (Shares outstanding: 30.9 million; Market cap: $10.8 million; www.vanoil.ca), holds oil and gas assets in Kenya and Rwanda.
Blocks 3A and 3B, which cover 29,412 square kilometres, are in Kenya. Vanoil also has an exclusive licence to 1,631 square kilometres of oil and gas properties in the East Kivu Graben in Rwanda. This area is at the southern extension of the Albertine Graben, where Heritage and Tullow Oil made major discoveries in neighbouring Uganda.
Simba Energy, $0.08, symbol SMB on Toronto (Shares outstanding: 110.1 million; Market cap: $8.8 million; www.simbaenergy.ca), is exploring for oil on what it sees as overlooked properties in Africa, including parts of Liberia, Mali, Ghana, Guinea, Kenya and others.
Neither Vanoil or Simba have a direct relationship with major U.K.-based oil producer Tullow Oil plc.
Vanoil holds cash of $1.5 million. Simba has cash of $1.9 million. That gives the two companies funds to continue their exploration without selling shares at today’s…
Privacy Policy and Terms of Use
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Changes to this Policy
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