Africa Oil Begins Puntland Seismic Acquisition Programme

[RebelLion]

Range Resources Limited has been advised by Canada based Africa Oil that seismic recording in the Dharoor Valley of Puntland, Somalia commenced on July 9, 2008. Africa Oil holds an 80% interest in the Nogal and Dharoor blocks, with Range holding the remaining stake.

The Company plans to acquire approximately 2600 kilometres of 2D vibroseis data on the Dharoor Block before drilling 2 wells in each of its two Puntland concessions. In the Nogal Basin, Africa Oil has acquired all of the more than 4,000 kilometres of good quality 2D data, which was recorded in the late 1980's.

The concessions encompass two highly prospective hydrocarbon basins and cover an area of 81,000 square kilometres or more than 20 million acres. The two sedimentary basins were contiguous with the prolific Marib and Masila basins in Yemen during the Jurassic and Cretaceous periods.

Over 9 billion BOE have been discovered in Yemen but exploration has been limited to date in Somalia. Only 3 wells have been drilled in basinal settings in these concessions before operations ceased in the early 1990's. Those wells confirmed thick sedimentary sequences, encountered oil in Cretaceous sandstones and proved the presence of active petroleum systems in both basins.

Rick Schmitt, President and CEO of Africa Oil, commented, "We are very pleased with the progress made in our concessions and appreciate the excellent support received from both the Puntland Government and the Transitional Federal Government. Commencement of the seismic program has also reduced the logistical demands on our Puntland infrastructure and we are now working hard to reinstate the drilling program in order to commence drilling during 2008."

[FAH1223]

Somalis need to get atleast half of whatever comes out.

I wish drilling happened in the 60s, as my grandfather was part of some expeditions from Merka all the way up to Punt

[sheekh-Farax-zero]

is't this old news

[surrender]

Somalis need to get atleast half of whatever comes out.

I wish drilling happened in the 60s, as my grandfather was part of some expeditions from Merka all the way up to Punt

[RebelLion]

FAH

We'll see, with the right negotiators and leaders somali's will get their fair share.

Interesting about your grandfathers expedition, I didn't know there was oil exploration in the 60's. Most of the the exploration contracts were signed in the 80's, companies like conoco, amoco all had multi million dollar exploration contracts with the barre government. Things could have been good for somalia if the civil war didn't happen.


Surrendor

why are ya up so late? Isn't like 1 am in jolly old england?

Sheekh farax

Adiga everything is old to you, why does it matter how old it is? it's the latest update on the deal.

[FAH1223]

Somalis need to get atleast half of whatever comes out.

I wish drilling happened in the 60s, as my grandfather was part of some expeditions from Merka all the way up to Punt

surrender why the eye rolls?

rebel, there were some private expenditions, mineral testings in the 60s but the kacaan pretty much closed it up and put it on hold with everything being nationalized. But time was just not on our side, as it takes years to drill and build the adequate infrastructure for oil production. Iraq is so lucky wallahi, atleast the oil infrastructure is intact and whatever that hasn't been used since 03 can be used tomorrow with no problems.

i also read some things about it, but i totally forgot to save them

[Warsan_Star_Muslimah]

FAH

We'll see, with the right negotiators and leaders somali's will get their fair share.

Interesting about your grandfathers expedition, I didn't know there was oil exploration in the 60's. Most of the the exploration contracts were signed in the 80's, companies like conoco, amoco all had multi million dollar exploration contracts with the barre government. Things could have been good for somalia if the civil war didn't happen.


Surrendor

why are ya up so late? Isn't like 1 am in jolly old england?

Correction its 1:24

I wouldn't advise anybody in London to sleep now....Fajr comes in 1 hours time.

Wasalam to all

[Padishah]

Oil money in the hands of the TFG. This is going ot be disastrous, like Nigeria.