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Posted Sat Mar 16 2013: from Bloomberg:
Cradle of Mankind Offers Kenyans Three Centuries of Oil
The U.K.'s Tullow Oil Plc (TLW) and Canada's Africa Oil Corp (AOI). found crude at two wells last year and now plan as many as 11 more test wells in 2013. The valley could yield 10 billion barrels, Tullow estimates, enough to supply Kenya for three centuries or the U.S. for about 18 months.... With the continent's oil industry centered on Nigeria in West Africa, East Africa has been largely overlooked. Of the more than 30,000 wells drilled in Africa, fewer than 500 were in East Africa, according to Afren Plc (AFR), an oil explorer active in the region. "There was a giant under-explored hole on the map," Africa Oil Chief Executive Officer Keith Hill said in an interview in Nairobi. "Now the world has woken up to East Africa. I've never seen a basin of this magnitude."
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