Quick Update On Puntland Oil

[dagameison]

In Puntland, Horn Petroleum Corp. ("Horn") is currently in final preparations to commence a two well drilling campaign in the Dharoor Valley Block, with the first well (Shabeel-1) planned to spud in December of 2011. Drilling locations have been selected over two robust prospects targeting gross best estimated prospective resources of over 300 million barrels each, based on internal estimates. A contract has been awarded to Sakson Drilling and Oil Services who will provide a 1500 horse-power, top drive equipped rig. All drilling related third party service contracts have been executed. The Company has completed sourcing drilling related materials and the majority of materials are on site or on route to the drilling site. Site preparation including the drill site, air strip and ingress route construction have been completed. Water wells are currently being drilled to provide source water for drilling operations.

Horn has successfully raised the anticipated funds required for its planned two well exploratory drilling program in Puntland (Somalia). Spudding of the first well is anticipated before the end of 2011.

EAT THAT HATERS GAL-MUGDIGA WARYAA

[dagameison]

Guys its set. Welcome Puntland into the OPEC nations. Thats only two wells. We havent even talked about the other wells in those regions or mudug or sool. I am bit worried about production agreements with abdi-wahab I dont feel he deserves even half of it, Pland shud get the majority since its in our land and not yours. Secondly no production agreement should be signed at all with hamar untill a proper government that is federal based is established. Whats the points of giving them millions of dollars when they could just use it against us. Wa in laga firsada arintan plandow

[accident]

How much oil is Puntland estimated to have?

[dagameison]

How much oil is Puntland estimated to have?

Just in those two wells 300 million each but considering how many wells will be drilled after this one were talking billions

[dagameison]

1500 horsepower drilling rig which is what is being used in Puntland

[accident]

How much oil is Puntland estimated to have?

Just in those two wells 300 million each but considering how many wells will be drilled after this one were talking billions

It takes Saudi Arabia less than a month to produce 300 million barrels of oil. Saudi produces 4.5 billions of barrels/year. If Puntland has even a billion of it. It looks like it is insignificant.

[dagameison]

how many wells does saudi arabia have? I bet if u check two wells they wont even be able to muster what puntland is mustering. These are only two wells, theres going to be 20 wells in each state you have no clue these wells are just going to be use as proof oil exists its even called exploratory well. Once its explored and proven you know how many wells will be bought out by multi nationals? the state will then get the needed infrastructure to pipe the oil to the port infact they will probably have to create another port to handle to the exports.

[accident]

All of Somalia (yes, including Somaliland) is estimated to have around 4 billion barrels. Saudi Arabia produces that in one year. Are you competing with Saudi Arabia now?

[tightrope]

Guys its set. Welcome Puntland into the OPEC nations. Thats only two wells. We havent even talked about the other wells in those regions or mudug or sool. I am bit worried about production agreements with abdi-wahab I dont feel he deserves even half of it, Pland shud get the majority since its in our land and not yours. Secondly no production agreement should be signed at all with hamar untill a proper government that is federal based is established. Whats the points of giving them millions of dollars when they could just use it against us. Wa in laga firsada arintan plandow

PUNTLAND SOHULD GIVE A RED CENT TO THE FUFU-LOVING TUUG-FG!
PUNTLAND OIL MONEY STAYS IN PUNTLAND!

[tightrope]

How much oil is Puntland estimated to have?

In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys in 2011. These two exploration areas cover nearly 40,000km2 and have independently been assessed to potentially contain over 19.9 billion barrels of oil in-place. Red Emperor’s joint venture partner and PSA operator Africa Oil Corp. (TSXV: AOI) has signed a letter of intent with a drilling subcontractor and expects the first well to be drilled in Dharoor in Q3, 2011.

[dagameison]

20 billion in two wells that is an estimate of 2 trillion dollars trickling into our economy. Even if its 600 million barrells thats still 60 billion dollars trickling into our economy for infrastructure projects, road rojects, tourism projects and not to mention all the other investments. Remember we havent even still toughed mudug or sool and the offshore oil on the coastline and other crucial resources like gas.

Bro just admit it we have the best policy concerning our future then any other clan

[accident]

@ Clan.

Cool. Keep it up.

[dagameison]

Qatar has 25 million barrels of oil with a liftime of 70 years. Look at qatar today a population of 2 million



Inshalllah that will be bosaso who has probably up to 40-50 billion of oil when u consider mudug and sool. Anyways life is looking good im just worried how well it will be managed cuz thats the key to success. I think it will be ok if we can manage small projects here and there without to much corruption then the same can be applied to the oil. Puntland leaders know its in noone benefit to fight over oil so I doubt that will happen but that doesnt mean corruption wont exist but it wont be huge issue the good thing about pland is they know you gotta give the ppl a bit of candy which is development projects in pland to keep it at peace and nothing will change with the oil. They will build highways and say thats for u ppl, or build a railway and say look at that but take a few millions in their pocket lol

Its not as bad as hamar where they robbed the whole 1 million given to them to renovate hamar stadium, where-as olympic village being created in garowe is nearly completed

[dagameison]

@ Clan.

Cool. Keep it up.

Yes its all about clan and my clan is doing better yours. My clan will drive mercedes to work your clan a donkey. Thats what it will be like just watch it because no clan in somalia has any sort of future plans for their ppl. They just do few projects here and there and few diaspora investments but outside of that zilch. We do few projects here and there and our diaspora is starting to invest also but the big difference is we have a plan our kids will be safe for the next 100 years and im sre they will do the same and start investing into other areas like become a manfacturing state or service based state or both or tourist state the limits are endless. I suggest u get your puntland citizenship now

[accident]

Yes its all about clan and my clan is doing better yours. My clan will drive mercedes to work your clan a donkey. Thats what it will be like just watch it because no clan in somalia has any sort of future plans for their ppl. They just do few projects here and there and few diaspora investments but outside of that zilch. We do few projects here and there and our diaspora is starting to invest also but the big difference is we have a plan our kids will be safe for the next 100 years and im sre they will do the same and start investing into other areas like become a manfacturing state or service based state or both or tourist state the limits are endless. I suggest u get your puntland citizenship now

Is that why you copy and paste all those things day in and day out? Anyways, good luck. Hopefully you will move from Australia to Puntland soon and drive those Mercedes you speak of.