Kenya gives up oil to Africa Oil, Tullow

May 14, 2013 at 6:28 AM
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VANCOUVER, British Columbia, May 14 (UPI) -- A Kenyan oil prospect said to hold more than 200 million barrels of oil is a bright spot for explorer Africa Oil Corp., Chief Executive Officer Keith Hill said.

Africa Oil Corp., which has headquarters in Vancouver, said operator Tullow Oil started drilling in the Etuko prospect onshore Kenya. Drilling targets a new play in the Lockichar basin, the site of more recent discoveries. Tullow encountered about 100 feet of net oil pay in the Lockichar basin last year.

The company said the reserve could hold as much as 231 billion barrels of oil and take about 60 days to drill and evaluate.

Hill said more work was planned for Kenya if the drilling operations prove successful. He said there are three active rigs and three more en route to the site.

"The Etuko prospect is one of the most attractive prospects in our portfolio and has the potential to open up a new play fairway on the eastern side of the already proven Lockichar basin," he said in a statement.

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