.

Horns AGM this afternoon. sp up 3.5%

Horn down 10.27%

Horn down 1.16 0.11(8.66%)

Horn price 1.16 - down 0.11 - (8.66%)

Shabeel North spud any day now.

so why is Horn going down, surely this should be going up with the 2nd drill starting soon !

I'm at a lost of what PL is trying to do to this company ! It is obvious that there is a big seller out there at the moment when looking at the B vs S volumes last week. He can hide behind the sad story of the general market and short termers but he is the one who has created the environment by giving target which have not been met. Now investors are finding it difficult to knwo when to believe. Teh announcement in Australia about the Putland spin off is just amazing, if that doesn't cause panic then what will. He needs t oget his brains into gear before he loses his investors everything.

Was going to put more funds in next week to lower my average . Now I am thinking
this is going to drift lower . The trouble with Range now is what do you believe.
Pl in an email I have read has said the American institutions want Puntland hived off. In one way it will get the other assets valued, as Range has become all about Puntland and nothing else.
Again going back to what do you believe, will this be done for the benefit of share holders with greater leverage in Puntland after the hive off. Should be then like Horn RMP.
Or do they envisage not so pleasing oil finds in Puntland ?

Horn down 7.87%

Or indeed are finds going to be massive ?

sorry if finds are going to be massive, the SP would be going the opposite to waht it is doing today !

with Horn going down for 2 days on the trott, I have a feeling based on teh preformance of RNS over the last few months that the 2nd well is going to be delayed, nightmare!

Im lost like everyone else. I tend to think the the Horn games have back fired some
what. Now we all have doubts that may be unfounded. AGAIN TALK - rumour that it
(being the second Puntland drill) to be spudded this week.

Horn pulled backto 3% down

AFRICA OIL ANNOUNCES SPUD OF SHABEEL NORTH WELL

IN PUNTLAND, SOMALIA

June 5, 2012 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce the commencement of drilling operations on the Shabeel North well in Puntland, Somalia, the second well in the current drilling campaign. The well is being operated by Horn Petroleum Corp. (“Horn”) in which Africa Oil holds an interest of approximately 51%. Horn holds a 60% working interest in the Dharoor and Nugaal Valley Production Sharing Agreements (“PSA’s”) along with working interest partners Range Resources (20%) and Red Emperor (20%).

The Shabeel North well is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel well 3.5 kilometers to the south. Petrophysical analysis of downhole electrical logs in the Shabeel well indicated a potential pay zone in the Jesomma of up to 12 to 20 meters with an average porosity of 18 to 20%. It is planned to bring the rig back to the Shabeel location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed. The planned TD of the Shabeel North well is 2400 meters and drilling is expected to take 45 to 60 days to complete.

Horn President and CEO David Grellman stated, “The Shabeel North well will test the same reservoirs that appear to be oil bearing in the nearby Shabeel well. We would expect similar or better reservoir thickness and quality as we move deeper into the basin. The results of this well should help us confirm the extent of the petroleum system in the basin and, if successful, would be another step towards proving the economic potential of the basin.”

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia andMali as well as Puntland (Somalia) through its 51% equity interest in Horn Petroleum Corporation. 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. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".

ON BEHALF OF THE BOARD

“Keith C. Hill”

President and CEO

Lets hope the sp will now stabilise

HORN PETROLEUM SPUDS SHABEEL NORTH WELL
IN PUNTLAND, SOMALIA

Vancouver, British Columbia, June 5, 2012 – Horn Petroleum Corporation (“Horn Petroleum” or the “Corporation”) is pleased to announce the commencement of drilling operations on the Shabeel North well in Puntland, Somalia, the second well in the current drilling campaign.

The Shabeel North well is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel well 3.5 kilometers to the south. Petrophysical analysis of downhole electrical logs in the Shabeel well indicated a potential pay zone in the Jesomma of up to 12 to 20 meters with an average porosity of 18 to 20%. It is planned to bring the rig back to the Shabeel location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed. The planned TD of the Shabeel North well is 2400 meters and drilling is expected to take 45 to 60 days to complete.

Horn Petroleum President and CEO David Grellman stated, “The Shabeel North well will test the same reservoirs that appear to be oil bearing in the nearby Shabeel well. We would expect similar or better reservoir thickness and quality as we move deeper into the basin. The results of this well should help us confirm the extent of the petroleum system in the basin and, if successful, would be another step towards proving the economic potential of the basin.”

The well is being operated by Horn Petroleum which holds a 60% working interest in the Dharoor and Nugaal Valley Production Sharing Agreements (“PSA’s”) along with working interest partners Range Resources (20%) and Red Emperor (20%). Africa Oil Corp. holds an equity interest in Horn Petroleum of approximately 51%.

Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation’s shares are listed on the TSX Venture Exchange under the symbol “HRN”.

ON BEHALF OF THE BOARD

“David Grellman”
President and CEO

Horn up 10.8%

I just hope that this time, they provide timely updates on progress and if it's going to miss their dates just be honest and upfront. Don't delay RNS regardless of the news. Fingers crossed we do have a period of stabalisation.

Thanks to great room on ii


We have some new information slipped into the Horn rns.

When a well is determined to be non-commercial, it is often due to the sandstones having a low permeability and porosity. This is important as it is what effects the volume of oil and its ability to leave the spaces in the sandstone and flow up the hole.

The general minimum p&p is of 8% percent to be deemed successful (other factors exis, of course).

The p&p of Shabeel has averaged at 18-20%. This is clearly a good sign as it is one more hurdle we have jumped in our search for commerciality.

Also, in Keith Hill's Q&A in Stockholm he said of Shabeel-1 'if the well flows, which we expect it to...'.

Looking that much better tonight.

GR

Sadly "great room" does not know what they are talking about it seems.

Porosity is one thing - yes, the higher the porosity the more volume of oil a reservoir can contain.

Permeability is nothing to do with porosity, and permeability is the key thing to making wells flow oil.

Horn do not mention permeability and also the last well did not flow - guess that is where the problem is then do we not.

Porosity on its own means nothing.

I wonder why Great Room is trying to infer that permeability has also been mentioned and its ok - when in fact it has not.