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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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bonzoonfmb Champion Author Florida Posts:1,757 Points:640,400 Joined:Feb 2010	Message Posted: Feb 26, 2012 7:29:21 PM Ignore bonzoonfmb Report Abuse More supply to be held hostage.
honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Feb 26, 2012 7:22:14 AM Ignore honda0105 Report Abuse whole region if plagued by corruption. Gonna be just as much a problem it has been before.
Anddy_viper888 Sophomore Author New York Posts:195 Points:10,545 Joined:Feb 2011	Message Posted: Feb 24, 2012 1:51:13 PM Ignore Anddy_viper888 Report Abuse good for them
numbers Champion Author North Dakota Posts:2,801 Points:850,040 Joined:Aug 2004	Message Posted: Feb 23, 2012 6:47:13 AM Ignore numbers Report Abuse Good
tomok Champion Author Portland Posts:32,917 Points:2,341,510 Joined:Aug 2006	Message Posted: Feb 23, 2012 2:07:37 AM Ignore tomok Report Abuse There is more oil in Liberia to be discovered. There is more oil in the US and more oil in the world yet to be discovered. Get the oil out of the ground and to market. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation to help lower your cost. The price of fuel at the pump is too high! 12/22/2012!
tidalwave3 Champion Author Tallahassee Posts:1,294 Points:1,460,075 Joined:Jun 2008	Message Posted: Feb 23, 2012 1:38:15 AM Ignore tidalwave3 Report Abuse And just across the The Big Pond! No Straits of Hormuz or Suez Canal to worry about :)
Dodge_Me Champion Author Atlanta Posts:2,214 Points:553,230 Joined:Mar 2006	Message Posted: Feb 23, 2012 12:40:04 AM Ignore Dodge_Me Report Abuse wonder how long it will take to start producing
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: Feb 22, 2012 11:52:06 PM Ignore LostToo Report Abuse OHHHHH Now we got alot more oil to pump and refine. Wierd how we have access to more oil than anytime in history. But we have to pay through the nose to get it. It is high time the goverments went after the price gougers and shut them down. I don't care if that just leaves BP or Shell. It's time to fix a broken system and fix it now.
granitestater Champion Author New Hampshire Posts:8,800 Points:1,426,750 Joined:Oct 2008	Message Posted: Feb 22, 2012 11:31:39 PM Ignore granitestater Report Abuse Not suprising. Angola (Cabinda) and Nigeria have great reserves of oil...
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Feb 22, 2012 11:29:18 PM Ignore tedjm1 Report Abuse Go get it so Liberia can take over & corrupt everything, like most other contries with plenty of oil.
southrob Champion Author Tucson Posts:3,585 Points:685,150 Joined:Mar 2011	Message Posted: Feb 22, 2012 11:25:31 PM Ignore southrob Report Abuse we discovered lots of oil here in america only our govt will not let us get it.
heartbroken2010 Champion Author Ottawa Posts:4,324 Points:893,535 Joined:Aug 2010	Message Posted: Feb 22, 2012 11:23:27 PM Ignore heartbroken2010 Report Abuse must be a slow day today , saw this yesterday .
BooHooMI Champion Author Michigan Posts:1,556 Points:344,610 Joined:Sep 2010	Message Posted: Feb 22, 2012 11:18:47 PM Ignore BooHooMI Report Abuse Yahoo!
jkpsr Champion Author New Jersey Posts:4,069 Points:1,099,105 Joined:Jun 2005	Message Posted: Feb 22, 2012 11:17:58 PM Ignore jkpsr Report Abuse Any additional supplies will help.
umitb Champion Author Indianapolis Posts:3,653 Points:839,440 Joined:Apr 2010	Message Posted: Feb 22, 2012 11:14:17 PM Ignore umitb Report Abuse ok
MidNJ Champion Author New Jersey Posts:7,536 Points:1,169,685 Joined:Sep 2009	Message Posted: Feb 22, 2012 11:07:30 PM Ignore MidNJ Report Abuse Question, We have heard the mantra, "Drill Baby Drill" since September 2008. Question, Is "Drill Baby Drill" really the answer?????
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Feb 22, 2012 11:05:01 PM Ignore CPGas1815 Report Abuse The supply of crude oil is not the problem. There are Trillions of Barrels of crude oil just waiting to be harvested and brought to market. Unfortunately the geo-political forces of greed and loathing are hell bent on addicting us to their products for which there are no other current practical alternatives.
kgbellman Champion Author Ann Arbor Posts:2,693 Points:727,840 Joined:Mar 2011	Message Posted: Feb 22, 2012 11:00:49 PM Ignore kgbellman Report Abuse interesting
seenmany Rookie Author Salt Lake City Posts:25 Points:450,950 Joined:Aug 2011	Message Posted: Feb 22, 2012 11:00:46 PM Ignore seenmany Report Abuse Bring it on.
MidNJ Champion Author New Jersey Posts:7,536 Points:1,169,685 Joined:Sep 2009	Message Posted: Feb 22, 2012 11:00:04 PM Ignore MidNJ Report Abuse 62 votes ??? Interesting, VERY VERY -- interesting!!!
kgbellman Champion Author Ann Arbor Posts:2,693 Points:727,840 Joined:Mar 2011	Message Posted: Feb 22, 2012 10:59:26 PM Ignore kgbellman Report Abuse interesting
gumbyrex Champion Author Fresno Posts:3,281 Points:755,290 Joined:Mar 2011	Message Posted: Feb 22, 2012 10:58:01 PM Ignore gumbyrex Report Abuse Great, now just get it out of the ground and on the open market.
nztyraider Champion Author Nevada Posts:2,268 Points:690,750 Joined:Apr 2009	Message Posted: Feb 22, 2012 10:56:12 PM Ignore nztyraider Report Abuse Push for more oil to lower gas prices.
bcok Champion Author Los Angeles Posts:2,102 Points:1,540,290 Joined:Oct 2005	Message Posted: Feb 22, 2012 10:54:21 PM Ignore bcok Report Abuse With good direction this should be a great thing for their economy and hopefully ours.
bif65 Champion Author Virginia Posts:1,023 Points:194,880 Joined:Jan 2011	Message Posted: Feb 22, 2012 10:53:41 PM Ignore bif65 Report Abuse ok
carman11 Champion Author North Carolina Posts:3,308 Points:687,500 Joined:Jun 2011	Message Posted: Feb 22, 2012 10:49:49 PM Ignore carman11 Report Abuse Where are the Geen People. This will kill all the fish in the world oh MY!! America would never alow this to happen....
Tanner_1 Champion Author Virginia Beach Posts:1,536 Points:455,290 Joined:Nov 2011	Message Posted: Feb 22, 2012 10:47:22 PM Ignore Tanner_1 Report Abuse Now to get it in the supply line in a timely manner.
Saturn93 Champion Author Salt Lake City Posts:7,292 Points:1,640,885 Joined:Oct 2006	Message Posted: Feb 22, 2012 10:45:00 PM Ignore Saturn93 Report Abuse While it is years away from commercial development, this is good news for world oil markets. Just don't leg BP mess things up again.
DEG Champion Author Las Vegas Posts:17,605 Points:3,491,680 Joined:Jul 2003	Message Posted: Feb 22, 2012 10:41:25 PM Ignore DEG Report Abuse Big Oil, Big Government, and speculators are all to blame. Obama is a big part of the equation.
02SilverStroke Champion Author Dallas Posts:2,013 Points:1,341,145 Joined:Aug 2005	Message Posted: Feb 22, 2012 10:40:30 PM Ignore 02SilverStroke Report Abuse Hopefully this will help lower prices.
judgemobile Champion Author Ohio Posts:7,550 Points:2,441,135 Joined:Nov 2005	Message Posted: Feb 22, 2012 10:39:23 PM Ignore judgemobile Report Abuse BIG new supplies usually mean lower prices. I guess the greedy speculators don't care about us common folk.
johnnyg1200 Champion Author St. Louis Posts:4,106 Points:640,470 Joined:May 2011	Message Posted: Feb 22, 2012 10:37:32 PM Ignore johnnyg1200 Report Abuse No better than the Middle East. Some of the countries in Africa have no government or ones that are barley functional. The countries that have governments are ruled by corruption. Civil war and border disputes are the normal instead of the exception. Only a fool would invest in that part of the world and only the king of fools would depend on energy from that continent.
abcdMA Champion Author Worcester Posts:7,902 Points:1,570,980 Joined:Nov 2008	Message Posted: Feb 22, 2012 10:36:54 PM Ignore abcdMA Report Abuse more supply is good
skybiker Champion Author South Carolina Posts:7,272 Points:1,555,415 Joined:Jul 2008	Message Posted: Feb 22, 2012 10:35:33 PM Ignore skybiker Report Abuse We have yet to discover even half of the existing oil reserves.....
shopnshop Champion Author Dallas Posts:1,125 Points:329,080 Joined:Aug 2008	Message Posted: Feb 22, 2012 10:35:30 PM Ignore shopnshop Report Abuse good news
clermont40miles Champion Author Cincinnati Posts:10,543 Points:1,767,935 Joined:Apr 2008	Message Posted: Feb 22, 2012 10:34:35 PM Ignore clermont40miles Report Abuse Good. Produce. Don't let the greenies find out!
skyking19 Champion Author Little Rock Posts:1,995 Points:1,695,970 Joined:Jan 2007	Message Posted: Feb 22, 2012 10:31:45 PM Ignore skyking19 Report Abuse That's great, but it doesn't change short term retail gas prices.
ScottE Champion Author Orange County Posts:4,352 Points:2,195,905 Joined:May 2002	Message Posted: Feb 22, 2012 10:27:17 PM Ignore ScottE Report Abuse YES ON OIL PRICES, BUT THE AREAS HAS BEEN UNSTABLE FOR MANY YEARS. ANGOLA IS THE BIGGEST EXPORTER IN THE DARK CONTINENT. LATIN AMERICA AND SOUTHERN ASIA IS CORRUPT BUT AFRICAN GOV'T. TAKE THE CHEAT THEIR PEOPLE CARK.
luwachris Champion Author Los Angeles Posts:1,082 Points:224,370 Joined:Jul 2011	Message Posted: Feb 22, 2012 10:23:32 PM Ignore luwachris Report Abuse Will it make gas prices more sane?
serrog Champion Author Nova Scotia Posts:5,544 Points:1,508,130 Joined:Oct 2008	Message Posted: Feb 22, 2012 10:11:48 PM Ignore serrog Report Abuse good
Blue48 Champion Author Illinois Posts:7,285 Points:1,633,945 Joined:Feb 2007	Message Posted: Feb 22, 2012 10:11:24 PM Ignore Blue48 Report Abuse CONSERVE AMERICA CONSERVE!
ty58 Veteran Author Akron Posts:320 Points:481,530 Joined:Jun 2011	Message Posted: Feb 22, 2012 10:05:31 PM Ignore ty58 Report Abuse so how does this help the world and us oil prices
LegoVasavouchi Champion Author Oklahoma Posts:1,659 Points:114,390 Joined:Apr 2011	Message Posted: Feb 22, 2012 9:55:23 PM Ignore LegoVasavouchi Report Abuse Fascinating.
BKool Champion Author Michigan Posts:5,243 Points:1,896,305 Joined:Aug 2005	Message Posted: Feb 22, 2012 9:52:44 PM Ignore BKool Report Abuse Good for the Aussies.
nvwarped All-Star Author Corpus Christi Posts:893 Points:451,500 Joined:Sep 2011	Message Posted: Feb 22, 2012 9:52:28 PM Ignore nvwarped Report Abuse ok
Ray_10589 Champion Author New York Posts:4,926 Points:1,178,985 Joined:May 2009	Message Posted: Feb 22, 2012 9:48:44 PM Ignore Ray_10589 Report Abuse Hopefully it will help the US....
WillyG Champion Author Cincinnati Posts:3,533 Points:902,090 Joined:Aug 2005	Message Posted: Feb 22, 2012 9:47:22 PM Ignore WillyG Report Abuse What's in it for us ?
mstearno Champion Author Dayton Posts:8,043 Points:1,727,235 Joined:Jan 2008	Message Posted: Feb 22, 2012 9:44:56 PM Ignore mstearno Report Abuse what about us?
a_lu_vasile Champion Author Maryland Posts:1,254 Points:773,875 Joined:Jul 2008	Message Posted: Feb 22, 2012 9:43:14 PM Ignore a_lu_vasile Report Abuse ok
woodeye55 Champion Author Gary Posts:7,339 Points:1,853,505 Joined:Mar 2006	Message Posted: Feb 22, 2012 9:41:12 PM Ignore woodeye55 Report Abuse Viva, Liberia.