Oil in West Africa: A Mirror or a Mirage?
Sep 2nd 2013 10:00AM
Updated Sep 2nd 2013 10:02AM
The pre-salt formation off the coast of Brazil has many speculators wondering whether there's a mirror-image formation on the West African side of the Atlantic, and several companies are taking a deeper look in hopes of finding massive quantities of oil opposite Brazil's Santos Basin. So far, the results of the exploration program haven't been as successful. BP's exploration program off the coast of Namibia was a dud, but companies looking further north have had more success.
Since this region is still very much in the exploration phase, investing here should be considered a rather high-risk play, but there are some other ways to invest in the region if you believe in its potential. Tune in to the following video, where fool.com contributor Tyler Crowe looks at whether the mirror theory has legs and how you can play this trend.
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The article Oil in West Africa: A Mirror or a Mirage? originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter: @TylerCroweFool. The Motley Fool recommends Petrobras, Seadrill, Statoil, and Total. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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