.

Sorry about the above but my great nephews are trying to teach me to send attachments and needless to say it did not work - will try it out on my friends and not this site, my appologies.

You have got to learn, do not worry. Try it on preview first, then you know it has worked . Good luck. Nothing rude i hope. lol

Hurry up and learn 3 monkies, then I can read what you have found out.

Should have reached 2500Mtrs + next week in the drill. Looking foreward to the Rns.
Any hydrocarbons found must be stated under ASX rules. Looking foreward to next week.

Hopefully news will come soon or these will probably go further down and that is not what we want. Every penny counts!!!!!!

It does now 3 monkies . Have a good weekend. The sun is out, what more do we want. lol. I know what I want.

Pleased the sun is out where you are, had that horrible stuff this morning and very overcast. Enjoy the sunshine and a good weekend to you.

SEP 23, 2011 - 21:06 ET
Africa Oil Corp.: Corporate Update

--------------------------------------------------------------------------------
View News Release in PDF Format VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2011) - Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or "the Company") announced on September 20, 2011 that it received 27,777,778 post-consolidation common shares of Horn Petroleum Corporation ("Horn") (formerly capital pool company Denovo Capital Corp.) in connection with a share exchange agreement whereby Horn acquired all of the issued and outstanding shares of Canmex Holdings (Bermuda) I Ltd., formerly a wholly owned subsidiary of Africa Oil. The Company also acquired 11,111,111 post-consolidation common shares of Horn upon the conversion of 11,111,111 previously issued Subscription Receipts ("Subscription Receipts"). The Subscription Receipts were issued in a private placement at a price of CAD$0.90 per Subscription Receipt. Each Subscription Receipt was converted into one post-consolidation common share and one post-consolidation share purchase warrant of Horn.

Africa Oil now owns and has control over a total of 38,888,889 common shares or approximately 51.4% of Horn's current issued and outstanding share capital.

Africa Oil relied upon the exemption provided for in Section 2.42 of National Instrument 45-106 in connection with the issuance of the 11,111,111 common shares and Section 2.13 of National Instrument 45-106 in connection with the issuance of the 27,777,778 common shares.

Africa Oil acquired the securities in Horn for investment purposes only and may, in the ordinary course of their business, acquire additional securities of Horn depending on market and other conditions.

Africa Oil's Certified Advisor on First North is E. man J:or Fondkommission AB.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Africa Oil Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
africaoilcorp@namdo.com
www.africaoilcorp.com

There is no doubt that buying oil stocks when the stock markets are weak and everyone is scared is tough psychologically. Contrarian trading always is! But extreme fear leads to the best bargains ever seen in the stock markets. The optimum time to buy low is when everyone else is selling, so blinded by their own fear that they cant imagine anything but the current selling extrapolated out into infinity. But are oil stocks going to remain deeply out of favor and oversold for the coming 6 months? Almost certainly not

Can see there being a big upside to the purchase of Horn shares with only 75 odd million.Horn and RMP have greater leverage than RRl. These two poss being sold off in the future.

Horn 75.6million Shares in Issue

RMP 147.6million Shares in Issue

RRL 1,706.9million Shares in Issue

Thanks to vsm on interactive ii





Re: Horn Petroleum - Shares - 75,652,890 verysensiblemike 2





OF and Disco you are forgetting the large amount of warrants which have been issued which can be called in by the company when the price exceeds $1.50
From memory there are 45 m warrants which would bring the total to 120m for horn
1st 2 drills could contain as much as 700m bbls recoverable which at $ 5 is worth $3.5bn
Options also increase the shares in issue for Range to 1.9bn or thereabouts
IMO the leverage would be as follows
HRN $2.1bn between 120m shares which is $17.5 or 17.5 times the current price
RMP $700m between 152m shares which is $4.60 or 15.3 times the current price
RRL $700m between 1.9th shares which is 37c or just over twice the current price

The analysis is simplistic as it considers only Puntland when RMP and RRL have additional assets. For RRL these additional assets provide a safety net as just NCR
and TT account for the current sp. In total the upside in RRL is to around 80p if we strike in Georgia and on the first 2 Puntland drills. Just over 7x with little or no downside in the medium term.
On the other extreme is Horn which has no underpinning but IMO would increase 20 fold
on two strikes in Puntland. Failure would leave the sp around the 10c level so the downside is 90%
And so this leaves the Emperor which arguably is the best of both worlds, well almost as I will explain. RMP,s other major asset is 20%stake in them Strait/RRL Georgia project.
The current drill is worth around 40p a share to RMP with the second drill worth a similar amount. Success in Georgia would underpin the RMP sp at around 80p if the 2 Puntland drills are successful then I can see the RMP sp around the 500p level which 25 times the current level.
Just to keep the analysis fair on Puntland success I would expect Horn to be worth in excess of $25 a share so the upside would be equal to that for RMP.
If we hit in G and spud P at the same time I would want to remain in RMP.
if we were to hit in G and then spud a week later the opportunity would exist to switch into HRN for the Puntland spud and then back to RMP during the drill.
The timings of events over the next couple of months is guesswork, the values assuming certain events are not, they are mathematical calculations.
The real answer is that IMO there will be plenty of opportunities to switch between the three players according to the sequence of events

I currently hold both RRL and RMP and will consider HRN as play developed
My own personal opinion based on the above is that there is currently no need to take on the extra risk in Horn when RMP offers similar rewards but with the risk spread across two projects. A strike in Georgia would be the trigger to start switching into Horn as the reward, but also risk , deminishes.

For the record I hold 65/35 RMP/RRL currently and would aim on Georgia success
To end up with something like 30/30/40 RMP/HRN/CASH in the run up to Puntland drill

Regards vsm

http://www.corporateinformation.com/ImageSvr/Chart.ashx?T=SS&C=C036K7730

Just looking at Tangiers petroleum share price. RRls holding of 5% has increased by
200% odd.


1 Week -6.1% 13 Weeks 115.6%

4 Weeks 228.6% 52 Weeks 762.5%

hi dc - yep tangiers pet was an excellent move from day 1 - well done pl

hrn - i'm not gonna add that to my pf - looks pretty good though - but i prefer my rmp / rrl status as is - and adding on weakness - rrl hit 10 range tomorrow will have another swoop - bumpy ride next week which is good imo especially at these bargain sps right now.....nerves of steel required....


& - a week or 2 old but worth keeping in mind...

Denovo Provides Update on Proposed Qualifying Transaction and Independent Assessment of Prospective Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Denovo Capital Corp. ("Denovo" or the "Company") (TSX VENTURE:DVO.P) is pleased to provide an update to its previously announced acquisition of all the issued and outstanding shares of Canmex Holdings (Bermuda) I Ltd. ("Canmex I") from Africa Oil Corp. ("Africa Oil"), which transaction (the "Transaction") is intended to constitute the Corporation's "qualifying transaction" under the applicable policies of the TSX Venture Exchange (the "Exchange"). The Exchange approved the filing of the Company's filing statement dated August 29, 2011 (the "Filing Statement") relating to the Transaction and the Filing Statement was filed on SEDAR on September 1, 2011. The Company has made its initial submission to the Exchange but has not received conditional approval of the Transaction. The Company expects to be in a position to close the Transaction in the next few weeks. Shareholders of the Company and Africa Oil are encouraged to review the Filing Statement which is filed under the Company's SEDAR profile at www.sedar.com.

Following the completion of the Transaction, the Company, among other things, will have consolidated its issued and outstanding common shares on the basis of one post-consolidation common share for every 0.65 pre-consolidation common shares, continued into the Province of British Columbia under the Business Corporations Act (British Columbia) and changed its name to "Horn Petroleum Corporation". For further information regarding the Transaction, please see the Company's press release dated August 11, 2011.

In connection with the transaction, Denovo is pleased to announce that it has received an independent evaluation of the prospective resources in the Dharoor Valley and Nugaal Valley Blocks in Puntland (Somalia) ("Resource Report"). The Resource Report, effective June 30, 2011, was prepared by Petrotech Engineering Ltd. ("Petrotech") and in accordance with the current guidelines outlined in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. A copy of the Resource Report may also be found under the Company's profile on SEDAR.

The Resource Report indicates that gross best estimate prospective resource in the Dharoor Valley and Nugaal Valley Blocks, including both prospects and leads, are in excess of 5.2 billion barrels of oil. A summary of the Company's gross and net share of the unrisked prospective resources (prospects) and the net present values from the profit oil revenue less the un-recoverable amount of funds from the production operation; discounted at 0, 5, 10, 15 and 20% before and after income tax are presented in the table below. The net cash flow is calculated at forecast prices and escalated costs on the prospective resources, to all future time and after deduction of the capital costs, royalties and before and after deduction of income tax. All cash flow data is in U. S. dollars.

Unrisked LM Oil Resources Before and After Tax NPV discounted @
Prospective
Resources (Prospects) 100% Co.'s
Gross
Share Co.'s
Share
of
Profit
Oil 0% 5% 10% 15% 20%
(Mbbl) (Mbbl) (Mbbl) (MM$) (MM$) (MM$) (MM$) (MM$)
Low Estimate
Dharoor 19,774 11,864 2,790 258 160 98 56 28
Nugaal 82,109 49,265 10,108 894 470 233 96 16
Total Low Estimate 101,882 61,129 12,898 1,152 631 331 152 43
Best Estimate
Dharoor 401,041 240,624 86,455 8,549 6,025 4,465 3,433 2,712
Nugaal 1,689,983 1,013,990 309,668 31,552 19,126 12,181 8,044 5,450
Total Best Estimate 2,091,024 1,254,614 396,123 40,101 25,152 16,646 11,477 8,162
High Estimate
Dharoor 3,459,660 2,075,796 755,041 75,450 52,679 38,905 29,930 23,725
Nugaal 12,208,497 7,325,098 2,314,341 241,402 140,508 86,866 56,089 37,353
Total High Estimate 15,668,157 9,400,894 3,069,382 316,852 193,186 125,771 86,020 61,078

Prospective resources (leads) are identified in both blocks and the unrisked resources at 100% and are as follows:

Total Unrisked Prospective Resources (Leads) - Dharoor Valley and Nugaal Valley

Estimates Low Best High
Petroleum Originally in Place (Mbbl) 1,044,887 16,012,157 66,301,497
Prospective Resources on Leads (Mbbl) @ 100% WI 156,733 3,202,431 16,575,374

The Company's Share of the Cost Oil and Profit Oil cannot be determined at this time until the leads can be upgraded to prospects together with the evaluation of production and economic forecasts.

Definitions and Cautionary Statements

Prospective Resources: those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective Resources are further subdivided in accordance with the level of certainty associated with recoverable estimates, assuming their discovery and development, and may be sub-classified based on project maturity.

Uncertainty Categories

Estimates of resources always involve uncertainty, and the degree of uncertainty can vary widely between accumulations/projects and over the life of a project. Consequently, estimates of resources should generally be quoted as a range according to the level of confidence associated with the estimates. An understanding of statistical concepts and terminology is essential to understanding the confidence associated with resources definitions and categories. The range of uncertainty of estimated recoverable volumes may be represented by either deterministic scenarios or by a probability distribution. Resource should be provided as low, best and high estimates as follows:

Low Estimate: This is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at least a 90 percent probability (P90) that the quantities actually recovered will equal or exceed the low estimate.
Best Estimate: This is considered to be the best estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the quantities actually recovered will equal or exceed the best estimate.
High Estimate: This is considered to be an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability (P10) that the quantities actually recovered will equal or exceed the high estimate.
This approach to describing uncertainty may be applied to reserves, contingent resources and prospective resources. There may be significant risk that sub-commercial and undiscovered accumulations will not achieve commercial production. However, it is useful to consider and identify the range of potentially recoverable quantities independently of such risk.

Significant Positive and Negative Factors Relevant to the Resources Estimates

This news release contains forward looking information including, but not limited to, estimated resources. The forward looking information is based on current expectations and is subject to a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to the following:

Risks associated with ever making a discovery

The estimation of prospective resource volumes for high-risk and poorly calibrated basins can be subject to large variation from the introduction of new information. The estimates presented herein are based on all of the information available; however, new data or information is likely to have a material effect on the resource assessment values. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that the discovery will be commercially viable to produce any portion of the resources. Given that a significant portion of the resources in the portfolio are in leads that require additional data to fully define their potential it is likely that significant changes to the resource estimates will occur with the incorporation of additional data and information.

Risk Associated with the Estimates

In the event of a discovery, basic reservoir parameters, such as porosity, net hydrocarbon pay thickness, fluid composition and water saturation, may vary from those assumed, affecting the volume of hydrocarbon estimated to be present. Other factors such as the reservoir pressure, density and viscosity of the oil and solution gas/oil ratio will affect the volume of oil that can be recovered. Additional reservoir parameters such as permeability, the presence or absence of water drive and the specific mineralogy of the reservoir rock may affect the efficiency of the recovery process. Recovery of the resources may also be affected by well performance, reliability of production and process facilities, the availability and quality of source water for enhanced recovery processes and availability of fuel gas. There is no certainty that certain mineral interests are not affected by ownership considerations that have not yet come to light.

Substantial Capital Requirements

The Company expects to make substantial capital expenditures for exploration, development and production of oil and gas reserves in the future. The Company's ability to access the equity or debt markets in the future may be affected by any prolonged market instability. The inability to access the equity or debt markets for sufficient capital, at acceptable terms and within required time frames, could have a material adverse effect on the Company's financial condition, results of operations and prospects.

Ability to Execute Exploration and Development Program

It may not always be possible for the Company to execute its exploration and development strategies in the manner in which the Company considers optimal. Execution of exploration and development strategies is dependent upon the political and security climate in the host countries where the Company operates. The Company's exploration and development programs may involve the need to obtain approvals from relevant authorities who may require conditions to be satisfied or the exercise of discretion by the relevant authorities. It may not be possible for such conditions to be satisfied.

Access to Infrastructure

The Company's ability to produce and market hydrocarbons from any potential discoveries will depend on its ability to access suitable infrastructure. The Company may also be affected by deliverability uncertainties related to the proximity of its potential production to pipelines and processing facilities and operational problems affecting such pipelines and facilities as well as potential government regulation relating to price and the export of oil and gas. Currently there is limited local infrastructure and markets for oil, natural gas and condensate and export infrastructure to enable other markets to be accessed. The Company will work with its partners and government authorities to evaluate the commercial potential and technical feasibility of any discovery made.

Additional Risks

Additional risks associated with the estimate of the prospective resources include risks associated with the oil and gas industry generally (i.e. financing; operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections related to production; costs and expenses; health, safety, security and environmental risks; and the uncertainty of resource estimates), drilling equipment availability and efficiency, the ability to attract and retain key personnel, the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with dealing with governments and obtaining regulatory approvals, and the risk associated with international activity.

Other Information and Updates

Denovo and Africa Oil will continue to provide further details in respect of the Transaction, in due course, by way of press releases.

Completion of the Transaction remains subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the Transaction will be completed as proposed or at all.

The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Forward-looking information included in this press release includes statements with respect to closing of the Transaction. This press release also contains forward-looking information relating to the intention of the parties to, among other things, complete the Transaction. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material factors and assumptions include the parties to the agreements underlying the Transaction being able to obtain the necessary director, shareholder and regulatory approvals; TSX-V policies not changing; and completion of satisfactory due diligence. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the TSX-V, the failure to obtain the required directors' and shareholders' approvals in respect of the Transaction and related matters; changes in tax laws, general economic and business conditions; and changes in the regulatory environment. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Hi gibby, good post, Hope for a not to bumpy week next week as we should be due news on the drill and loads more. Be good to start seeing the sp rise. Gl

cheers dc & agreed - one of the reasons i am looking to snap up some more - it is very hard to calculate bottom here right now - should not go below 10 - how high is as difficult to say right now - need some data tomorrow to calculate - gl

The bounce will come with the cra- interest rates being paid to savers. Just need this bad european news to go away. I think it is round about christmas which will be crunch time for greece, with more capital loans needed. Big question will they get the loan or be left .

Mid week some important figs come out, for the usa etc. Cannot see us going sub 10p
with the on going news from now on. You never know though. If they hit 9p I will be there too.lol You will soon be a top 10 shareholder. lol

indeed it will - i actually see the euro situ as a bonus - sorry to anyone who has lost of course but to anyone able to buy now - sky really is the limit - greece - hopefully will be left to sink - eyeties (italy) not far behind and one or 2 others - best thing to do is hit this mess head on then look forward - in the meantime the likes of you, me and others can buy cheap - fundamentals of these companies are no different then before this - in fact they are better as time and work has moved on nearer to the ultimate company goals - i feel a.............. kerrrrrrrrrchinnnnnnnnnggggggggggggggggg moment!! lol

Italy have said they will survive??????????????????????????????????????????????????