November 19, 2013 // News in English, Warar Somaali
Range Resources has been focusing on its preparations for a seismic acquisition campaign on its Dharoor PSA onshore Puntland, where it is partnered with Horn Petroleum (operator). The seismic campaign will include a regional seismic reconnaissance grid in the previously unexplored eastern portion of the basin as well as prospect specific seismic to delineate a drilling candidate in the western portion of the basin, where an active petroleum system was confirmed by the recent drilling at the Shabeel?1 and Shabeel North?1 locations.
The focus of the Dharoor seismic program will be to delineate new structural prospects for the upcoming drilling campaign.
Based on the encouragement provided by these two Shabeel wells, the JV has entered into the next exploration period in both the Nugaal and Dharoor Valley PSCs which carry a commitment to drill one well on each block within an additional three-year term. The current operational plan would be to contract a seismic crew to acquire additional data in the Dharoor Valley Block and to hold discussions with the Puntland Government to gain access regarding drill ready prospects in the Nugaal Valley Block.
During June the company entered into a conditional agreement with the Puntland government with respect to obtaining a 100%-working interest in the highly prospective Nugaal Basin Offshore Block. The block is an extension of the onshore Nugaal Region which has the potential for deltaic deposits from the Nugaal Valley drainage system and comprises over 10,000 km.
The agreement is subject to a formal PSC being entered into and the receipt of all necessary regulatory approvals and given the current political situation in Puntland, Range does not expect it to take place during Q4.
Source: P.AFRICA
