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Message: AOI news re: Canaccord ...

Attention, everyone: Paipai.

That is all. Africa Oil announced that it has spudded its Paipai-1 exploration well in Block 10A onshore Kenya. The well is planned to drill to a total depth of 4,112 m and will test Cretaceous and Jurassic sandstone targets.

The well is operated by Tullow Oil, who hold a 50% working interest. AOI holds a 30% working interest in the Block, while Afren PLC holds the remaining 20%. Elsewhere in Kenya, the company and its partner Tullow continue drilling operations at the Twiga South-1 well site located in Lokichar sub-basin onshore Block 13T and results of this well are expected before the end of October.

AOI also announced that in onshore Ethiopia, Tullow is finalizing plans to mobilize the OGEC-75 rig for the exploration drilling campaign that is planned to commence with the Sabisa-1 well in the South Omo Block near the end of this year.

The announcement of the spudding of the company’s Paipai-1 well appears to be earlier than the market anticipated, as most thought the well would spud in late October.

From Canaccord morning coffee this am.

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