by James Stafford, Oil Price:
Africa is becoming the top choice for North American oil companies looking to diversify, and the East African Rift is the hottest of the hot, with Kenya waiting on commercial viability, Angola and Ghana already on the road to rival Nigeria and two newcomers—Namibia and Zambia—where the doors have been thrown open for exploration. Getting in on Namibia and Zambia is an extremely expensive endeavour, but here’s a way to de-risk this adventure, keep your shareholders calm and strategically position yourself to take advantage of the next big find without footing the massive drilling bill: Buy up a ton of acreage and sit back and let others do the expensive exploration and drilling on territory adjacent to yours. Then strike and watch offers come in.
Alberta Oil Sands (AOS) CEO, Binh Vu … discusses:
• How to get in elephant-sized plays in the East African Rift
• How to save cash by piggy-backing on others’ expensive exploration
• Why Namibia could be a major oil monster
• What makes Zambia such an attractive oil venue
• Other African plays that are worth looking into
• Why it’s hard for juniors to compete in Africa
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