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[dreggspicker] 03/2/2014 08:17

could well be a exercise of booking a tax loss for the year, but of course when you do that it is seen by all,that is where it has backfired......... I can not believe Firebird would let this wither on the vine for the want of financing but we will see later .......

[dropside] 02/2/2014 12:14

The Kenyans are right, the finances look bad. But the odd thing is that Passin could put the money in to drill in 3A, Firebird have plenty of cash and Vanoil is really a vehicle for the Firebird fund. Maybe for some reason he has decided the license is not as prospective as was first thought. Could be due to results in neighbouring licenses. Bahasi on Block 9 was a dud and Africa Oil have said this (15 Jan) on Block 10A:

The partnership has elected not to continue into the next exploration phase in Block 10A in Kenya and the previously planned test of the Paipai well has been cancelled due to concerns over economic viability.


Vanoil may only be prepared to do it with farm-in partners and they in their turn may not be so keen. They may still hope to keep the license and sell it on for something.

If it really is not that prospective then they are right to recognise this and cut their losses. I'm just guessing, no idea really, there are so many things here that don't quite fit together so trying to find a story that would make them fit...

It looks like we may get something from Sam Malin on Monday, let's hope so.

[dreggspicker] 02/2/2014 11:42

oh no, my very worst fears do not really know what to say about this other than it is a disaster ........

[dropside] 02/2/2014 09:51

This doesn't look good - I hope Passin and Malin have some answers to this..

[dreggspicker] 31/1/2014 11:00

Have I seen this before, look at page 15-16 you will see the Madogashe site; In fact I really don't think it was there before????????

[dreggspicker] 30/1/2014 16:28

and back down again!

[dreggspicker] 29/1/2014 22:21

Price has perked up abit;;;;;

Time & Sales
Price Size Mkt Time Buy Sell
0.15 2,500 TSXV 15:53:21
007
027
0.14 36,000 TSXV 15:53:21
007
007
0.125 1,000 TSXV 15:53:21
007
039
0.125 4,000 TSXV 15:53:21
007
099
0.12 500 TSXV 15:53:21
007
001
0.12 1,000 TSXV 15:53:21
007
039
e 0.11 87 TSXV 15:22:08
059
033
0.11 500 TSXV 15:22:08
001
033
0.125 1,000 TSXV 13:30:21
039
099
0.125 5,500 TSXV 13:30:21
039
099
0.125 6,000 TSXV 13:30:05
039
001
0.125 1,000 TSXV 13:30:05
039
039
0.12 3,000 TSXV 12:24:14
001
002
e 0.12 235 TSXV 10:45:00
059
00

[dreggspicker] 29/1/2014 20:25

Afren the other day said the Seychelles was "on going"

Seychelles Areas A 75% Interpretation of Ongoing
& B 3D Seismic





Maybe Ophir drilling L9 at the end of this year; (we hold 10%)






But we need news, and money!


A532;


A532;

A532;



A532;



A532;




[napoleon111] 23/1/2014 11:33

hxxp://www.vanoil.ca/s/NewsReleases.asp?ReportID=620693&_Type=News-Releases&_Title=Vanoil-Announces-Settlement-Accord-with-the-Government-Of-Rwanda

[dreggspicker] 22/1/2014 17:28

This has just been put on Stockhouse, looks to me we have been paid off in Rwanda...




Onwards and upwards....

[dreggspicker] 18/1/2014 08:55

Errh, I sud hav said 2.8 Billion Barrels! NOT MILLION!

[dropside] 17/1/2014 22:32

Thanks dreggs, I think I had forgotten how big Seychelles was with all the focus on Kenya this last year.

Good prospects and good partners in Seychelles and 9a, and lets hope they add 3A good news soon..

[dreggspicker] 17/1/2014 21:41

Hi drops, 2.8mb is in Afrens August 2013 presentation so no change there.. alot of oil to aim for......

[dropside] 17/1/2014 20:39

From Afren's latest presentation, there's an awful lot of prospective oil in our Seychelles licence area. Sure I haven't seen these numbers before...

Country
Gross prospective
resources
(Pmean mmboe)
Net prospective
resources
(Pmean mmboe)
Ethiopia 344 103
Kenya 2,303 1,760
Seychelles 2,801 2,101

[dropside] 17/1/2014 12:40

Tullow's dissapointment in the Anza basin is a negative, and the fact they have elected not to drill the next well looks bad.

That is the narrative the market has picked up. An alternative narative is that there are at least two more wells to be drilled in the Anza in 2014 - Vanoil and Taipan. Tullow have enough on their plate developing elsewhere in Kenya so let others do the work, then see. As they said in the rns : "There is clearly scope for the development to be expanded if there is further exploration success in other basins." They may even be taking a share in Vanoil's well for best access to data, maybe why they have chosen to pass on their own well. I don't know which is right...just hoping... and waiting for news!

[dreggspicker] 16/1/2014 08:10

quite alot traded yesterday, 209k showing, back up alittle, still no news......

[kiwimonk] 15/1/2014 13:22

couldn't make it up could you

[dreggspicker] 15/1/2014 12:42

Just had it shown me on Afren bb that Tullow has thrown in the towel on 10A Kenya, that does concern me as it is in the same basin as Madogashe.. it is in the update from this morning,, sorry I missed it first time reading... that could explain our price weakness of late if there had been rumours.. Tullow does have more than enough to chew on at the moment, so probably do not want any more.. But it must harm sentiment.

[dreggspicker] 15/1/2014 11:06

oooohh Vauch, you are a cynic ... ( yes it is spelt that way)

[vauch] 15/1/2014 09:03

It will be after our options expire then it will move up.

[dreggspicker] 15/1/2014 08:16

Meanwhile we wallow in the dirt with the dogs...... how low do we go before we get any news??????????

[vauch] 10/1/2014 19:43

The options we have wont be worth a fart at this rate.
Have they spent all our money or is Flormin still a gower

[dreggspicker] 10/1/2014 08:43

well the small seller seems to have stopped yesterday, will they resume today, who knows; For what it is worth I purchased another 40k last week @15cts so I am not hoping for below 10cts.....

[napoleon111] 09/1/2014 11:33

this is looking dire at the moment :(
news is needed, or a bit of buying pressure to keep it afloat...not sure i can afford it but if we dip below 0.10 will pick up some more and try to accumulate a decent position at a healthy price