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Australian Oil Explorer Announces Liberia Discovery, Latest In West Africa

Dow Jones Newswire --
Australia-listed African Petroleum Corps. (AOQ.NW) has announced a "significant" oil discovery in Liberia, confirming investor hopes that West Africa's atlantic coast could possess a wealth of off-shore oil.

In an online statement, the exploration driller said it had located "good quality oil" in an 250 square kilometer undersea field, four times the size of Manhattan. The statement added that the finding suggested commercially viable oil throughout its two petroleum blocks, which cover 7,135 square kilometers off the coast of Liberia, still struggling to recover from a 14-year-civil war.

The announcement marks the latest hint of an oil boom in West Africa's Gulf of Guinea, where drillers have enjoyed a light, sweet grade of crude that North American refineries prefer.

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Submitted Feb 22, 2012 By: RENEGADEGAS

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a_lu_vasile Champion Author Maryland Posts:1,254 Points:776,950 Joined:Jul 2008	Message Posted: Feb 22, 2012 7:43:14 PM Ignore a_lu_vasile Report Abuse ok
woodeye55 Champion Author Gary Posts:7,371 Points:1,858,705 Joined:Mar 2006	Message Posted: Feb 22, 2012 7:41:12 PM Ignore woodeye55 Report Abuse Viva, Liberia.
gd83goldwinger Champion Author South Bend Posts:1,428 Points:504,980 Joined:May 2011	Message Posted: Feb 22, 2012 7:40:17 PM Ignore gd83goldwinger Report Abuse Ok.
Kaiyne Champion Author Chicago Posts:2,344 Points:473,690 Joined:Feb 2011	Message Posted: Feb 22, 2012 7:36:02 PM Ignore Kaiyne Report Abuse Good for them!
cateyes8264 Champion Author Tennessee Posts:2,957 Points:643,365 Joined:Jul 2011	Message Posted: Feb 22, 2012 7:33:40 PM Ignore cateyes8264 Report Abuse Hope Liberia gets some benefit from it, and use it for their people.
B_550i All-Star Author Seattle Posts:720 Points:192,945 Joined:Aug 2011	Message Posted: Feb 22, 2012 7:33:09 PM Ignore B_550i Report Abuse K
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Feb 22, 2012 7:30:46 PM Ignore cmsense Report Abuse Both political parties are bought and sold by BIG OIL, while Speculators are laughing their ass off all the way to the bank.
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Feb 22, 2012 7:29:25 PM Ignore EmperorsFinest Report Abuse Good for them!
kymechanic All-Star Author Kentucky Posts:909 Points:574,745 Joined:Mar 2011	Message Posted: Feb 22, 2012 7:27:40 PM Ignore kymechanic Report Abuse It won't help the poor, the rich will just get richer!
FrankTA2 Champion Author New York Posts:4,298 Points:1,096,285 Joined:Jun 2007	Message Posted: Feb 22, 2012 7:25:01 PM Ignore FrankTA2 Report Abuse Excellent!!!
gmcgas Champion Author Atlanta Posts:5,958 Points:1,715,145 Joined:Mar 2004	Message Posted: Feb 22, 2012 7:20:21 PM Ignore gmcgas Report Abuse fine.
sillywagon Champion Author New York Posts:14,899 Points:1,442,320 Joined:Oct 2008	Message Posted: Feb 22, 2012 7:20:07 PM Ignore sillywagon Report Abuse The more oil the better. But as many posters have stated, we economically need some limited commodity speculation reform.
ericbcire Champion Author Nevada Posts:4,530 Points:1,268,685 Joined:Aug 2009	Message Posted: Feb 22, 2012 7:20:03 PM Ignore ericbcire Report Abuse Speculators ignore this information.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 22, 2012 7:16:27 PM Ignore tippybuddy Report Abuse new oil and still the prices go up...come on let's get a break
hcivic Champion Author Virginia Posts:3,859 Points:2,266,690 Joined:Aug 2005	Message Posted: Feb 22, 2012 7:14:56 PM Ignore hcivic Report Abuse very good
The_DR Champion Author New Jersey Posts:2,790 Points:586,040 Joined:Aug 2011	Message Posted: Feb 22, 2012 7:10:11 PM Ignore The_DR Report Abuse Lets go down under
bevmill Champion Author Georgia Posts:2,587 Points:602,270 Joined:Apr 2006	Message Posted: Feb 22, 2012 7:09:42 PM Ignore bevmill Report Abuse ok
DrCashFlow Champion Author Massachusetts Posts:7,074 Points:1,628,200 Joined:Jun 2008	Message Posted: Feb 22, 2012 7:08:58 PM Ignore DrCashFlow Report Abuse Hopefully, Liberia has a decent leader who won't plunder it's resource assets
katmandue Champion Author Detroit Posts:8,076 Points:2,135,095 Joined:Jul 2006	Message Posted: Feb 22, 2012 7:07:04 PM Ignore katmandue Report Abuse yad yad yad!
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Feb 22, 2012 7:04:37 PM Ignore MadTraveler Report Abuse Tired of all this - - - -
Bleeder Champion Author Virginia Posts:8,038 Points:1,700,375 Joined:Jan 2008	Message Posted: Feb 22, 2012 7:03:27 PM Ignore Bleeder Report Abuse Africa is the new hot spot for oil. I hope it will help the people of Africa.
hoffbeck20 Veteran Author Minnesota Posts:283 Points:63,095 Joined:Dec 2011	Message Posted: Feb 22, 2012 7:02:27 PM Ignore hoffbeck20 Report Abuse Significant finds will run out
Dsin44 Champion Author Abbotsford Posts:1,272 Points:273,185 Joined:Apr 2011	Message Posted: Feb 22, 2012 7:01:45 PM Ignore Dsin44 Report Abuse gas 6 bucks a gal...
lowpet All-Star Author Texas Posts:527 Points:86,915 Joined:Dec 2008	Message Posted: Feb 22, 2012 6:59:53 PM Ignore lowpet Report Abuse And prices still go up!?!?
Vitobug Champion Author El Paso Posts:1,955 Points:641,435 Joined:May 2011	Message Posted: Feb 22, 2012 6:58:15 PM Ignore Vitobug Report Abuse interesting
LSU_TIGERS_dmb Champion Author Louisiana Posts:1,715 Points:622,415 Joined:May 2011	Message Posted: Feb 22, 2012 6:57:58 PM Ignore LSU_TIGERS_dmb Report Abuse We hve enough oil in USA just not a president that will drill. Doesn't want lower oil or make his tree buggers friends mad
IUVidiot Champion Author Indiana Posts:3,595 Points:710,410 Joined:Jun 2011	Message Posted: Feb 22, 2012 6:56:59 PM Ignore IUVidiot Report Abuse hmmmmm
vtroger Veteran Author Vermont Posts:284 Points:561,970 Joined:Mar 2011	Message Posted: Feb 22, 2012 6:55:51 PM Ignore vtroger Report Abuse wtf
Bagtag Champion Author Georgia Posts:1,449 Points:1,828,965 Joined:May 2006	Message Posted: Feb 22, 2012 6:54:13 PM Ignore Bagtag Report Abuse Hey camaro_man, is that a you got, "wow?" How about something original like "omg" or "wtf?"
blitzntj Champion Author Jacksonville Posts:4,684 Points:945,055 Joined:Dec 2007	Message Posted: Feb 22, 2012 6:50:33 PM Ignore blitzntj Report Abuse Cool
Thomtec Champion Author Nashville Posts:2,475 Points:610,095 Joined:May 2011	Message Posted: Feb 22, 2012 6:48:18 PM Ignore Thomtec Report Abuse There is plenty of oil but tightly controlled.
hank1326 Champion Author Los Angeles Posts:8,919 Points:1,734,785 Joined:Jun 2008	Message Posted: Feb 22, 2012 6:44:15 PM Ignore hank1326 Report Abuse Good news! More energy options the better.
camaro_man Champion Author Kitchener-Waterloo Posts:2,237 Points:612,020 Joined:Jun 2010	Message Posted: Feb 22, 2012 6:42:45 PM Ignore camaro_man Report Abuse wow
craigsfrank Champion Author Arkansas Posts:2,203 Points:841,405 Joined:Jun 2010	Message Posted: Feb 22, 2012 6:38:50 PM Ignore craigsfrank Report Abuse Here's another market so we don't have to worry about or support Iran oil.
575Racing Sophomore Author Akron Posts:177 Points:133,845 Joined:Jan 2011	Message Posted: Feb 22, 2012 6:35:46 PM Ignore 575Racing Report Abuse drill, drill, drill!!
raj_fl Champion Author Trenton Posts:3,214 Points:728,980 Joined:Oct 2010	Message Posted: Feb 22, 2012 6:35:36 PM Ignore raj_fl Report Abuse lets stick it to opec and the speculators
raj_fl Champion Author Trenton Posts:3,214 Points:728,980 Joined:Oct 2010	Message Posted: Feb 22, 2012 6:34:38 PM Ignore raj_fl Report Abuse drill baby drill
30mpg80 Champion Author Lexington Posts:10,045 Points:1,488,830 Joined:Nov 2008	Message Posted: Feb 22, 2012 6:32:26 PM Ignore 30mpg80 Report Abuse Drill it and pump it
heysailor Champion Author Pittsburgh Posts:9,592 Points:2,334,620 Joined:Mar 2006	Message Posted: Feb 22, 2012 6:28:25 PM Ignore heysailor Report Abuse Good news - don't foul the ocean. And conserve.
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Feb 22, 2012 6:20:47 PM Ignore TDIdave Report Abuse hmmm.
JagXKR Champion Author British Columbia Posts:3,169 Points:1,093,330 Joined:Dec 2009	Message Posted: Feb 22, 2012 6:18:45 PM Ignore JagXKR Report Abuse That's all that a pre-civilized nation needs, tons of money. Oil will not help people who's culture is centuries behind the rest of the world.
DustyHorse Champion Author Virginia Posts:6,093 Points:1,393,120 Joined:Oct 2008	Message Posted: Feb 22, 2012 6:18:03 PM Ignore DustyHorse Report Abuse I sure the speculators will simply ignore this information.
puckheadmn Champion Author Twin Cities Posts:1,258 Points:1,129,050 Joined:Jul 2008	Message Posted: Feb 22, 2012 6:17:54 PM Ignore puckheadmn Report Abuse Whatever.
kobes1 Champion Author Florida Posts:2,502 Points:559,560 Joined:Aug 2011	Message Posted: Feb 22, 2012 6:17:25 PM Ignore kobes1 Report Abuse yea yea yea
AKmailman Champion Author Alaska Posts:5,643 Points:1,559,515 Joined:Jul 2004	Message Posted: Feb 22, 2012 6:13:19 PM Ignore AKmailman Report Abuse that's a gold mine for them, cheap labor and no EPA [Edited by: AKmailman at 2/22/2012 9:13:51 PM EST]
walkingtall Champion Author Toronto Posts:4,004 Points:1,122,655 Joined:Nov 2004	Message Posted: Feb 22, 2012 6:12:35 PM Ignore walkingtall Report Abuse Australian oil explorer announces Liberia discovery,latest in West Africa.Don't get your hopes up,it's still in the ground.
naiiawah Champion Author Boise Posts:2,400 Points:691,050 Joined:Mar 2011	Message Posted: Feb 22, 2012 6:07:47 PM Ignore naiiawah Report Abuse When it is on the market driving down retail gas prices, then we'll care about it.
dollarwatcher Champion Author Wisconsin Posts:7,950 Points:1,536,195 Joined:Mar 2007	Message Posted: Feb 22, 2012 6:04:02 PM Ignore dollarwatcher Report Abuse Don't go getting all excited, it ain't out of the ground yet.
danreino Champion Author Twin Cities Posts:8,358 Points:1,541,705 Joined:Mar 2008	Message Posted: Feb 22, 2012 6:01:22 PM Ignore danreino Report Abuse Another one of those fraudulent Liberian money making scams ? LOL Why doesnt Australia drill their own oil and say to he99 with the Opeckers ?
mrbee Champion Author Little Rock Posts:3,764 Points:2,467,630 Joined:Oct 2005	Message Posted: Feb 22, 2012 6:00:40 PM Ignore mrbee Report Abuse Will it help?
Bubba44612 Champion Author Ohio Posts:7,401 Points:1,878,055 Joined:Aug 2005	Message Posted: Feb 22, 2012 5:59:15 PM Ignore Bubba44612 Report Abuse And prices continue to rise.
jdc17327 Champion Author Pennsylvania Posts:2,560 Points:198,015 Joined:May 2009	Message Posted: Feb 22, 2012 5:56:46 PM Ignore jdc17327 Report Abuse okay