Tullow Oil is yet to confirm the commercial viability of the oil found in Ngamia-1 Well in Kenya’s Lokichar Basin, intelligence shows.
However, this announcement will come at a time when Tullows activities on the drilling site have been threatened.
Strategic Intelligence and other media reports on problems faced by Tullow Oil in Kenya, particularly, the Turkana tribe threats to sabotage its drilling activities has worried investors with a stake in the British company.
Tullow Oil has a great record in exploration activities with various success reports in East Africa, hence investors have a right to worry about the progress and downs of the company.
Discussion between investors in stocks forums and investor discussion boards show a jittery community and an alarmed caboodle of investors worried about the outcome of the Turkana threat to Tullow Oil exploration activities in the oil rich Lokichar basin.
However, the government of Kenya under President Mwai Kibaki has goodwill and is quite capable of achieving a longstanding solution to these problems besides providing adequate/maximum security to the facilities being used by Tullow Oil.
The objective of the Turkana community is to secure jobs available on the drilling site, besides entering into agreements with the government on revenue sharing once production and export of oil is confirmed.
These strategic objectives by this tribe are not illegal though making threats was out of order and alarmist.
Tullow Oil activities have not stopped rather the company is making progress in its efforts to authenticate commercial viability of the oil found in the area.
