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keep hold

personally i have a holding of arond 15 million at under 3p and more in the 8p to 13p so i know the company - my minimum sp is 80p out target 1.50 this is one of several multibaggers i have hence my inyerest in ggp soon - i know any share can blitz the only bit that concerned me was puntland however i flew out on holiday and busines thier government contacts are unique no one touches puntlamd i am just happy to come back in one piece but looked after

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DC, do you really believe RRL may have sought and gained approval from the LSE to disregard their legal obligation to report news that could have a material affect on the SP of a publicly quoted company?

Anyway, I thought you were happy that there wasn't a security issue and any concerns in that area were being handled by the SAS?

Taken from elsewhere, I assume it is genuine. Edit: Yep, posted on Africa Oil's website

Africa Oil Puntland Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2011) - Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide an update on drilling operations related to the two-well exploration program in the Dharoor Valley Block, located in Puntland (Somalia).

Drilling locations have been selected over two robust prospects targeting gross best estimated prospective resources of over 300 million barrels each, based on internal estimates. A contract has been awarded to Sakson Drilling and Oil Services who will provide a 1,500 horse-power, top drive equipped rig. The majority of the drilling-related third party service contracts have been entered into and all outstanding service contracts are expected to be completed before the end of August.

The Company is actively engaged in sourcing drilling related materials and early stage logistics including drill site and ingress route construction. A contract has been signed with a water well drilling company and water well drilling will commence in early September. Mobilization of required personnel and equipment is planned to allow for spud of the Shabeel-1 well during the fourth quarter of this year.

The Puntland Government and Dharoor Valley communities are fully supportive of the drilling project and have ensured they will do all that they can to allow the project to move forward safely and expeditiously.

Please refer to the Company's press release dated August 11, 2011, detailing a proposed transaction whereby the Company will transfer its interests in the Puntland production sharing contracts to Denovo Capital Corp. ("Denovo"). Assuming completion of the transaction and related financing, it is anticipated the Company will own approximately 50% of Denovo. A private placement of CAD$40.9 million has been closed by Denovo subject to final TSX Venture Exchange approval of the transaction which will allow the new combined company to fully fund the upcoming two well program.

Keith Hill, Africa Oil's President and Chief Executive Officer, commented, "We are very pleased to have signed a drilling rig contract and to have procured the required services to allow us to commence drilling operations in Puntland. With support from the local communities and Puntland Government, we are eager to drill the first exploration wells in Puntland in over 20 years, aimed at unlocking the resource potential of the area."

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Puntland (Somalia). Africa Oil's East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 300,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Albert Graben oil discovery in neighbouring Uganda. Similar to the Albert Graben play model, Africa Oil's concessions have older wells, a legacy database, and host numerous oil seeps indicating a proven petroleum system. Good quality existing seismic show robust leads and prospects throughout Africa Oil's project areas. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".

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pth did where did you used to work as a matter of interst - almost all work is by knowledge the fsa code is an inconveinece it just an gov quango of annoyance made by idiots in the past labour gov

however IMO rrl will continue to do well for me and my clients
tc

There will be a RNS to declare the well has spudded, if AOI want to release a RNS for a blow by blow account of how the plan is proceeding that is entirely up to them. A waste of money if they do.

So spud fourth quarter, could be next year then before results of the drill are known.

dc dont worry nothing would stop that - iwent out for a sarnie just seen this post now i have to say sorry to pth as i think i was a little rude i did not read his post well there is nothing to worry about rrl security

pth sorry rrl have been very clever on their board of execs are ex somalia molitia and officials the packets of used notes alrady gone and in constant supply monthly and they dont cost much - and listen quietly - just an expense of company acs!
gl

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Every RNS costs money to issue, I have no idea how much, however, a sensible company won't squander shareholder funds on releasing nugatory information.

dc just a small holding fo me - if the sp defaltes i will add - i know rrl due to work and meetings - its funny everyone is looking to trade them down but running out of ideas because they are a great company
so everytime same scenario - lets drop the pice a spot or two - guess what private investor esp on stop losses run and flee, my colleagues on their screens laugh - big orders are in and snap up unwanted shares then the traders make the money i see it every day but i dont laugh anymore as i think it has ruined peoples lives and have stopped going out with certain people because it does not agree with me to fleece people
however i will share with honesty what i can or am allowed to

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pth / dc - just to help an rns average depending on compexity normally around 250 to 1500.00 just depends on its content - then of course legal and admin fees on top

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