Burn Notice

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  1. No problem PA...only timeline is that they must drill one well in each block to satisfy PSA

     

    Given how long it took last time to Dharoor they'd have to get cracking soon if they are going to do 3d seismics ...as for Nugaal the targets are drill ready...only political issues holding things up as it is so close to the "disputed" regions

     

    Hopefully ALL parties can come to an agreement as there is a s#%# load of oil on the old ConocoPhillips block ;)

     

     


  2.  

    Kilimanjaro Announces Somalia Exploration Program

     

    BELIZE CITY, BELIZE--(Marketwired - May 27, 2014) - The directors and management of Kilimanjaro Capital (GXG:KCAP)(OTC PINK:KIMJF) are pleased to announce its exploration program for the Company's interest in Somalia where Kilimanjaro Capital currently has a 5% interest in the Amsas-Coriole-Afgoi (ACA) Block of 1,161,400 acres with a prospective oil resource of 21 million barrels and 130 billion standard cubic feet of sales gas (Bscf) according to an independent NI 51-101 Evaluation of Prospective Resources. The 112 page report is available in its entirety online and conservative estimates that the value for Kilimanjaro Capital's share is approximately $187.5 million USD with an overall contractor group net present value of $3.75 billion USD for the entire ACA Block.

     

    Kilimanjaro has obtained partners to provide security and logistic solutions for the exploration block. The company has progressed into deep discussions with partners to carry out the drilling operations and is excited about the plans to drill the first test well in 2014. "This is an exciting time in Somalia with majors such as Shell, Conoco-Phillips, Chevron and others are entering one of the last untapped frontier regions. For Kilimanjaro to be a part of the rebuilding effort that is going on in Somalia through the exploration of natural resources is a wonderful opportunity for the company to cement its position in Africa as natural resource leader," says CEO Zulfikar Rashid about the exploration program.

     

    The block sits only 30-50 kilometers from Mogadishu in a strategic region in which African Union peacekeepers are operating. Kilimanjaro has recently proposed to the World Bank that a joint development project in the ACA Block along with the Somalia Government which owns 51% of the block could ensure peace and stability in that region.

     

    The ACA Block was original drilled by Somal Sinclair Oil in the 1960s and found to be extremely promising. The block was nationalized by the Somali government in the 1970s and drilled in the 1980s with World Bank financing. The Somalia civil war intervened and in the Transitional Somalia government assigned the ACA Block to Amsas Pty. in 2008. Kilimanjaro signed a farm out agreement with Amsas in 2013.

     

    In other news the company intends to withdraw its listing from the GXG Markets effective June 11, 2014. The company will continue to trade on the OTC Markets.

     

    FORWARD-LOOKING INFORMATION

     

    Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

     

    Kilimanjaro Capital Limited

     

    35 New Road, P.O. Box 198

     

    Belize City, Belize

     

    +44 (0) 20 3239 1362

     

    info@kcap.biz

     

    www.kcap.biz

     

     


  3. Kilimanjaro Moves Forward With Somalia ACA Block-Proven Probable 20 Millions Barrels of Oil: Kilimanjaro is Petitioning World Bank to Continue Funding

     

    BELIZE CITY, BELIZE--(Marketwired - Apr 2, 2014) - The directors and management of Kilimanjaro Capital (GXG:KCAP)(OTC PINK:KIMJF) are pleased to provide an update on the Company's interest in Somalia where Kilimanjaro Capital currently has a 5% interest in the Amsas-Coriole-Afgoi (ACA) Block of 1,161,400 acres with a prospective oil resource of 21 million barrels and 130 billion standard cubic feet of sales gas (Bscf) according to an independent NI 51-101 Evaluation of Prospective Resources. The 112 page report is available in its entirety online and conservative estimates that the value for Kilimanjaro Capital's share is approximately $187.5 million USD with an overall contractor group net present value of $3.75 billion USD for the entire ACA Block.

     

    The block sits only 30-50 kilometers from Mogadishu in a strategic region in which African Union peacekeepers are operating. Kilimanjaro has recently proposed to the World Bank that a joint development project in the ACA Block along with the Somalia Government which owns 51% of the block could ensure peace and stability in that region.

     

    The ACA Block was original drilled by Somal Sinclair Oil in the 1960s and found to be extremely promising. The block was nationalized by the Somali government in the 1970s and drilled in the 1980s with World Bank financing. The Somalia civil war intervened and in the Transitional Somalia government assigned the ACA Block to Amsas Pty. in 2008. Kilimanjaro signed a farm out agreement with Amsas in 2013.

     

    Kilimanjaro is requesting the Washington DC based international organization, World Bank; reactivate their position in a new mega project. According to Kilimanjaro's CEO Zulfikar Rashid: "Kilimanjaro Capital believes the development of the ACA Block is vital to not only to the national economy of Somalia but its security. Extremism can only be prevented through economic opportunity." In addition Kilimanjaro is negotiating with a security firm, seismic and drilling companies to carry out the project.

     

    Rashid's vision is that the ACA Block can fuel the Somali economy's recovery: "The commercial potential of the ACA Block is not just as an export resource but also as an inexpensive source of natural gas for local industry. Kilimanjaro envisions that a Somalia Free Trade Zone could be built around the presence of this abundant, affordable and clean energy resource. This type of project which equally emphasizes local development and export revenue will be appealing to both the World Bank and Somali government."

     

    Kilimanjaro Capital is a Belize company conducting business in Africa in conjunction with its stakeholders and affiliates. The Company is listed on the Danish GXG Exchange and has obtained a secondary listing on the US OTC Markets exchange as a foreign issuer under the ticker symbol KIMJF


  4. in the mean time...the more the merrier ;)

     

    http://www.thesundaytimes.co.uk/sto/bus ... 361815.ece

     

    AN oil explorer headed by a former leader of the Conservative party has raised $50m (£30m) from a Russian oligarch to look for oil in pirate-infested waters off the coast of Somalia.

     

    London-based Soma Oil & Gas will be the first company to look for crude in the country since it disintegrated into a failed state in 1991.

     

    The company is chaired by Lord (Michael) Howard, who led the Tories for two years before making way for David Cameron in 2005. Basil Shiblaq, a former investment banker turned oil tycoon, founded the business last year.

     

    Soma’s new $50m investment is believed to have come from a vehicle controlled by Alexander Djaparidze, the billionaire founder of London-listed Eurasia Drilling.

     

    Soma will use the cash for an ambitious three-month programme to collect geological data over 122,000km2 of seabed.


  5. Somali play set for revival

    By Barry Morgan - Upstream Oil & Gas

     

    17 January 2014 00:00 GMT

     

    FINANCIAL moves are under way that could see exploration return to a Somali play that has not seen the drillbit since the 1960s but is now operated by Australian energy consultant Amsas Consulting.

     

    Anticipated capital expenditure on the Amsas Coriole-­Afgoye (ACA) block during 2014 and 2015 is estimated at $20 million for geochemical analysis, 1000 kilometres of 2D line seismic and an additional 600 square kilometres of 3D seismic.

     

    That figure should include the cost of drilling and completion on the first Coriole well later this year, with limited production scheduled for 2015, according to an ACA project evaluation report by Calgary-based consultant Chapman Petroleum Engineering.

     

    The real challenge lies in what the report, which was prepared for Amsas partner Kilimanjaro Capital, sees as a $545 million commitment from 2024 to drill and tie in producers to a dedicated pipeline.

     

    Even a lower cost development estimate is pegged at $280 million.

     

    Resource volumes are pegged as at least 23 million barrels of total prospective recoverable oil.

     

    Belize-registered Kilimanjaro is scheduled to fund 100% of developing the Coriole-­Afgoye block in return for an assigned 49% participating interest and share of production profits on a sliding scale from 45% to 90% for oil and 60% to 90% for gas.

     

    Kilimanjaro will earn an additional 5% non-operating stake in exchange for sourcing finance, further reducing Amsas’ existing 44% working interest, originally assigned under a Somali government farm-out deal.

     

    The initial exploration period of the 11-year licence expires at the end of 2014, before which Amsas hopes to negotiate a three-year extension.

     

    Regarding the Afgoye gas prospect, Chapman said the most likely total prospective recoverable resource estimate is 157 billion cubic feet.

     

    http://kcap.biz/dl/712362-Kilimanjaro_Somalia_51101.pdf


  6. Hi Libaax,

     

    Wow that interesting regarding the Aussie connection and plans for 2015... If 2 drills are not done by Oct 2015 then the Jv's forfeit the agreements ...when Nugaal is drilled it will be a discovery as ConocoPhillips previously hit oil but had to pack up in 1993

     

    Still can't believe how gracious Prez Faroke was in defeat...really is a credit to him and PL

     

    Look forward to the PL Oil thread ;)

     

    ATB my friend


  7. Wiil Cusub;987198 wrote:
    Che and burn: different between sl and pl oil exploration is. PL they make already conclusion and they ware talking about billions of barrels, before they make any Seismic data collection. Without seismic operation 2D or 3D how can you talk about nr of barrels.

    In Somaliland they are talking about exploration and they never said we found oil
    ;)
    just watch 1 min this video

     

    Wiil

     

    Africa oil conducted extensive seismics of the Dharoor prior to drilling....you dont just spend $100 million on exploration by guessing where to drill :(

    Depending on the election results in Jan, further seismics will be completed in the Dharoor in2014 now that theyhave identified an active petroleum system ...the targets in the Nugaal are drill ready as ConocoPhillips discovered oil here just prior to the outbreak of the civil war in 1993


  8. Che -Guevara;987194 wrote:
    lol@Burn Notice Are you saying the oil exploration in Sland is a scam like many senior landers on SOL alleged about Puntland:p

     

     

    Oodweyne Don't spend it all unless we are talking about Kaleeji oil type.

    Not saying that at all...just saying how hypocritical some posters are and how their opinions change 180 deg when it's their blocks that are being drilled by foreign companies ;)

     

    Very amusing...go read the BS being posted during the Puntland drilling campaign ...people were screaming blue murder

     

    Suddenly oil exploration is going to be the panacea for all of SL's ills

     

    Do your homework...the oil is in the Nugaal block so who ever drills there will be the big winner

     

    Good luck to Genel..the more companies drilling the merrier :)


  9. Oodweyne;987117 wrote:
    Wiil Cusub (New Boy),

     

    Thanks for this post, it really is deeply revealing about the extend others would go to stop Somaliland's reaching her goal of producing her God-given wealth to benefit her citizens. Furthermore, like the tenous realationship between Kurdistan and Baghdad, we will continue to hear all maner of daily scream and endless bluster from Mugadishu's governmental outfit, but so long as we control our land by our force, then, we will continue to develop our oil, regardless.

     

    And, of course, to have some one like Mr Tony Hayward, who is not afraid of some tin-pot little government that is on life-support, such as the one that screams daily for attention from Mogadishu, also helps tremendously in here.

     

    All in all, I say drill away, baby, and when we find the "black-gold", then we will settle acount with all comers, particularly with the "big-powers" in the West, who wouldn't want, presumably, to leave Somaliland's oil in that eventual time, to the likes of the Chinese of this world.

    Lmao...will we also hear how oil exploration is a curse like you raved on about when Puntland drilled for oil? ;)

     

    ...and then you wonder why no one takes you seriously

     

    Good luck finding oil ...doubt you will have any success but as always time will tell


  10. Oodweyne;987117 wrote:
    Wiil Cusub (New Boy),

     

    Thanks for this post, it really is deeply revealing about the extend others would go to stop Somaliland's reaching her goal of producing her God-given wealth to benefit her citizens. Furthermore, like the tenous realationship between Kurdistan and Baghdad, we will continue to hear all maner of daily scream and endless bluster from Mugadishu's governmental outfit, but so long as we control our land by our force, then, we will continue to develop our oil, regardless.

     

    And, of course, to have some one like Mr Tony Hayward, who is not afraid of some tin-pot little government that is on life-support, such as the one that screams daily for attention from Mogadishu, also helps tremendously in here.

     

    All in all, I say drill away, baby, and when we find the "black-gold", then we will settle acount with all comers, particularly with the "big-powers" in the West, who wouldn't want, presumably, to leave Somaliland's oil in that eventual time, to the likes of the Chinese of this world.

    Lmao...will we also hear how oil exploration is a curse like you raved on about when Puntland drilled for oil? ;)

     

    ...and then you wonder why no one takes you seriously

     

    Good luck finding oil ...doubt you will have any success but as always time will tell


  11. Alle-ubaahne;980898 wrote:
    Sxb seismic studies doesn't mean drilling. Plus, who said the activity is expensive? Do you know the average size of the companies that perform seismic activities comparing to actual corporations that specialize real petroleum drilling and productions?

     

    Haye bal wax noo sheeg, Mr. Petroleum Expert, adigoon ciridka kor u taagin! LOL

    Seriously last reply to you as you have NFI

     

    You need to do seismics to determine where to drill...2D is expensive while 3D is super expensive

     

    No company in the workd would do seismics and then allow another company to do the drilling...the 2 wells drilled in Puntland last year cost over$100m...Genel are to spend$40m to undertake seismics next year

     

    The big oil majors only move in once the smaller companies have mitigated risk by dealing with the sovereign risk and confirming oil in commercial quantities

     

    Good luck in life...you'll need it


  12. Alle-ubaahne;980833 wrote:
    You are assuming here that SFG represents only one party, is that correct? If so, why do we have representative ministers and officials in the SFG that hail across every parts of Somalia? Signing the Soma OIL and GAS has nothing to do with the petroleum law because SOMA will only perform seismic activities that are necessary before conducting actual petroleum explorations with real productions and so forth.

    Lmao...so conducting expensive siesmics doesn't count as actual petroleum exploration!!! That's comedy gold...I think you need to post on another thread as you are clearly out of your depths here :(


  13. Giant water reserves found in desert-dry region of Kenya

    • by: AAP & STAFF WRITERS

    • From: AAP

    • September 13, 2013 9:46AM

    The newly discovered reserves, holds 900 per cent more water than Kenya's current reserves.

    SCIENTISTS have discovered a number of giant underground water reserves - or aquifers - in a remote region of Kenya so large they could meet the country's demands for the next 70 years.

    Two aquifers have been identified in the Turkana region of Kenya by using satellite exploration technology, meaning what was once a drought-ridden territory may soon be flush with water. The reserves hold 900 per cent more water than Kenya's current reserves.

    This discovery could change the face of Kenya, forever.

    Three other aquifers have been detected but need to be confirmed through drilling.

    Of Kenya's 41 million people, 17 million lack access to safe water, and 28 million do not have adequate sanitation, according to UNESCO. Violence over scarce natural resources frequently break out in the Turkana region.

     

    The underground lakes were discovered by Radar Technologies International, which said its survey found that the two confirmed Turkana aquifers hold a minimum of 250 billion cubic meters of water, finds it said could boost Kenya's share of available water by 17 per cent.

    RTI said the three other unconfirmed aquifers could hold another 30 billion cubic meters of water. Drilling will confirm the existence of those three masses of water.

    Judi Wakhungu, the Cabinet secretary for Kenya's Ministry of Environment, Water and Natural Resources, said that the "newly found wealth of water" opens doors to a more prosperous future for the people of Turkana and the nation.

    "The news about these water reserves comes at a time when reliable water supplies are highly needed," Wakhungu said in a statement.

    "We must now work to further explore these resources responsibly and safeguard them for future generations."

    The discoveries were made near Lake Turkana, the world's largest permanent desert lake and largest alkaline lake. The region has produced a string of ancient palaeontological finds connected to humans' earliest days millions of years ago.

    "This groundwater raises the prospect for improving the livelihoods of the Turkana people, most of whom live in poverty and have limited access to basic services and clean water," said RTI, which detects water using satellite data, oil exploration technologies and conventional hydrogeological techniques.

    The finding demonstrates how "science and technology can contribute to industrialisation and economic growth, and to resolving real societal issues like access to water," said Gretchen Kalonji, UNESCO's assistant director-general for natural sciences.

     

     

    Read more: http://www.news.com.au/world-news/giant-water-reserves-found-in-desertdry-region-of-kenya/story-fndir2ev-1226718081792#ixzz2ejWcQSGf


  14. MOGADISHU, Somalia, Sept. 6 (UPI) - There are growing concerns that a groundbreaking oil exploration contract between the Western-backed transitional government of war-torn Somalia and a British-registered company could further destabilize the East African country.

     

    East Africa is experiencing a major oil and natural gas boom that will transform the economies of a half dozen states on Africa's Indian Ocean coast, so the prospects of striking oil in Somalia are rated highly.

     

    But, as U.N. investigators warned this year, the worry is that oil exploration across the shattered state, torn by clan wars and Islamist insurgency since 1991, risks "exacerbating clan divisions and therefore threaten peace and security."

     

    "Oil companies should cease and desist negotiations with Somali authorities," the U.N. Monitoring Group cautioned the U.N. Security Council in July.

     

    Soma Oil and Gas Exploration, headed by Lord Michael Howard, a former leader of Britain's ruling Conservative Party, signed Somalia's first deal with an international oil company, albeit an untested one, Aug. 6. The agreement gives Soma, formed in July, the right to apply for as many as 12 oil blocks in an area the Financial Times says oil majors consider "one of the final frontiers for the commodity."

     

    Soma is expected shortly to launch a seismic survey of onshore and offshore locations.

     

    The signing in Mogadishu, Somalia's war-scarred capital, took place as the country appears headed for a new round of violence, as the Islamist al-Shabaab organization, with links with al-Qaida, was showing signs of reviving a long-running insurgency after a series of military setbacks in 2011-2012.

     

    It's not clear yet why the government of President Hassan Sheikh Mohamud, installed only a few months ago with Western and United Nations backing, went ahead with the exploration deal since it had earlier voiced fears that the country was too fragile to risk an oil race.

     

    But the government, which many observers suspect will turn out to be as corrupt as previous Somali administrations since 2006, appears to have been persuaded to change tack.

     

    Abdirizak Omar Mohamed, Somalia's minister for natural resources, told the Financial Times Lord Howard's status and high profile - he was Britain's home secretary, or interior minister, in 1993-97 and leader of the Conservatives in 2003-05 - had a lot to do with the Mogadishu government's switch.

     

    Howard argued allowing oil exploration would increase stability by boosting state revenue for a government that's totally dependent on foreign handouts.

     

    "We realized we had to take a different approach," Abdirizak said.

     

    The British have been pushing for oil exploration for some time, along with Turkey, Norway, Qatar and others seeking to drill in Somalia and its waters in the Indian Ocean.

     

    London has succeeded in edging out key competitors like Norway, while prospects in Somalia grew as major strikes have been made further south in the past few years - mostly offshore, mainly off Mozambique and Tanzania - in geological strata that appear to extend along the whole Indian Ocean coastline.

     

    The Soma deal has made waves in the oil industry, which had expected a public licensing round for the oil blocks.

     

    Some majors, like Anglo-Dutch Shell (NYSE:RDS.B, Stock Forum) and France's Total (NYSE:TOT, Stock Forum) - which had signed up for blocks during the 1980s but never proceeded with them because Somalia collapsed into perpetual warfare following the ouster of dictator Mohammed Siad Barre in 1991 - have put them on ice until "conditions allow."

     

    Some oil has been found in the breakaway semi-autonomous regions of Somaliland and Puntland in northern Somalia. This has encouraged expectations that strikes can be made in other regions, and possibly in neighboring Ethiopia as well.

     

    Somaliland and Puntland have largely escaped the violence that has torn Somalia apart, but the dozen or so oil companies drilling there have to be protected by militias or private forces.

     

    In some cases, exploration blocks awarded by the two regions overlap, as with Norway's DNO International (OTO:DTNOF, Stock Forum) and the Canadian-listed Africa Oil Corp (TSX:V.AOI, Stock Forum).

     

    "Potentially, it means that exploration and operations in these blocks, conducted by both DNO and Africa Oil under the protection of regional security forces, allied militia or private forces, could generate new conflict between Somaliland and Puntland," the U.N. report warned. "It is alarming that regional security forces and armed groups may clash to protect and further Western-backed oil companies' interests."

     

     

    Read more at http://www.stockhouse.com/news/natural-resources/2013/09/09/rush-for-somalia-oil-may-destabilize-fragile-gover#3irwf1bSPOyLlxcA.99


  15. Carafaat though i agree in part, if we were to wait for that to happen it could be 2033.

     

    Under the Federal system states should be able to manage thier resources with a proportion of royalites going to the federal governement. I can't speak for the Genel contract but the Puntland govt managed to get a very equitable (in comparison to other PSA's around the world) agreement with Range/Africa oil. They managed to drill two wells without an issue and i still believe the results have been "hidden" pending resolution on who has authority.

     

    Ultimately i think that oil revenues will flow back down to the people through jobs, infrastructure, security, school, hospitals etc though good governance is necessary to ensure it isn't siphoned away :(