Dooxada Nugaaleed: Up to 10 billion barrels of oil.

[QabiilDiid]

We have to say to Cadde Muse: stop it, stop it. The Somali national resources should come under the jurisdiction of the Federal government. Cadde’s private club and a couple of Australian high school dropouts can not rob the Somali people blind. In this day and age, even uncultured village boys (tuulajoog) understand the value of any discovered oil and gas resources and will fight to death if their share and the share of their community are not indisputably paid in advance. How would some one make them understand it is o.k. that some Swedish, Australian, Kuwaiti and U.A. E. nationals have to be given 99% of any income from any discovered oil and gas in their habitat because someone wrote that in a piece of paper?

I think the Australian investors are not being given the true picture of the political risk factor of investing their hard earned dollars in the northeast of Somalia. The only possible way to exploit the natural resources in Somalia is through a comprehensive plan administrated by a central or federal government and agreed by all the sectarian communities in the country. Otherwise wherever someone digs with the permission of another person there will be someone else who will make a claim on the land being dug.

 

-----------------------------------------------

Andrew Trounson

Tuesday, September 25, 2007

 

 

IT is hard enough to have promising oil exploration in strife-torn and chaotic Somalia, but it doesn't help when it is situated in a region named Puntland.

 

It is no surprise then that Peter Landau, a director at Perth-based Range Resources, likes to pronounce it "Poontland".

 

And it is a punt that Range is keen to make given some theories that the rich oil and gas resources just across the Gulf of Aden in Yemen also extend into the horn of Africa where Puntland lies.

 

Range, and its Swedish-backed Canadian-based partners Africa Oil, are closing in on drilling in January their first well in the prospective Nogal Basin of Puntland. That would mark the restart of exploration drilling since oil majors such as Amoco, Chevron and Conoco fled the country in 1991 as civil war broke out.

 

But in the lead-up to drilling finally starting, Range is having to weather fresh uncertainty over the surety of its concessions in Somalia. The relatively stable semi-autonomous province of Puntland is in a political dispute with the Ethiopian-backed titular Transitional Federal Government in Mogadishu that is battling an Islamist insurgency.

 

At the centre of the dispute is TFG Prime Minister Ali Mohamed Gedi's move to bring in a national oil law that risks overturning Puntland's own agreements with Range.

 

The stand-off has weighed on Range shares, which have virtually halved since late July from about $1 to 52c. That values the explorer at about $92 million.

 

In Range's favour, the Puntland Government is refusing to countenance the proposed oil law, and could threaten to secede. Unlike the neighbouring Somaliland province to the west that has declared its independence from the TFG, Puntland has so far maintained that it wants to eventually remain part of a newly constituted Somalia and with it its potential oil wealth. Nevertheless, some big interests are at stake. Mr Gedi has enlisted Kuwait Energy Co to help draw up the new law and is planning to establish a national oil and gas company in which KEC and Indonesia's PT Medco Energy Internasional would share a 49per cent interest.

 

It is unclear how the new law would affect Chinese state oil giant CNOOC's agreement in July to explore in the Mudug region of Puntland.

 

Range's partners Africa Oil meanwhile are negotiating to bring in third partner, RAK Gas of the United Arab Emirates.

 

According to Mr Landau, the more companies that become involved in Somalia, the more likely that agreements and rights will be respected.

 

"We want as many people as possible because the more vested interests in there the better," he told The Australian.

 

Nor is Range letting the dispute get in the way of its plan to take out a listing on London's Alternative Investment Market, which it said on Monday was on track for the end of October.

 

Range has a 20 per cent stake the Nogal exploration effort, with Africa Oil farming in for 80 per cent by spending $US45 million ($52.1 million) to drill four wells. Mr Landau said any stake granted to RAK would come from Africa Oil's holding.

 

Somalia has no proven oil reserves but is rated as highly prospective. Range believes the Nogal Basin has the potential to host 2.2 billion to 10 billion barrels of oil.

 

Brokers Intersuisse last week rated Range a speculative buy.

 

Source: Australia Business, Sept 25, 2007

 

[ September 25, 2007, 10:27 PM: Message edited by: Nayruus ]

[General Duke]

Nayruus, dont be alarmed this is all about exploration, exploitation will take time. Range, CNOOC and others should be welcomed to come to Somalia, we need the interest. Our cash straped nation needs a healthy injection of cash..

[QabiilDiid]

You are talking about money and investments. I think unless this issue is left for the Federal Government to handle, we will get death and destruction. Somalia is weak and bleeding and doesn’t need any more tangled and complicated clan disputes that will come from resources exploitation unless it is administered wisely.

[General Duke]

^^^Of course the TFG should be responsible for the deals. But the TFG should also respect and empower when an a state makes a posative deal, like the Range deal.

 

I also do not get who will fight over this? The locals will get employment, money and opportunity, Puntland state will get its cut and so will the TFG.

 

Those who do not wnat any development, and I know you are not in that group, will complain out loud.

 

The UAE has proved that a confederacy could make deals in terms of investment whihc could benefit the whole.

[QabiilDiid]

That depends on Geed. If Geed and the parliament o.k. of what Cadde is doing, I think the law of the law is respected. But if Cadde hauls himself into Dubai hotel room and entertained by colorful slides produced by Aussi crooks with ratios to him it is “madmadoowbe Alla ku yaaqna”, that is not the interest of Somalia and he is unknowingly leading Somalis to death and destruction

[General Duke]

^^^You are right. The Oil Law should be implemented..

[Thankful]

that is not the interest of Somalia and he is unknowingly leading Somalis to death and destruction

Where the heck have you been the last 16 years????

[Miskiin-Macruuf-Aqiyaar]

Where is 'art'?

 

Mention Range Resources in a thread and 'art' will be there in a supersonic speed.

 

It also seems on SOL, a certain other individual will only surface out from the lurking, in order just to defend the indefensible Cadde Muuse. It seems a bit tad of being a cult worship. He doesn't care whatever else happens in Bari or Soomaaliya, but the corrupt Cadde Muuse u daran difaacidiisa.

[Thankful]

Isn't that the kettle calling the pot black? Let me guess you're demands to get Shabeelle back on the air (and anything pro "southerners" i.e clan courts) is because of it's journalism? All I see on SOL is every single person defending his or her own. Name me one person that praises a different side accomplishment. Atheer I know where you hail from and whom you support from your posts!

 

Also I find it pointless to defend anymore, too much hate!! I find there's less hate in Somalia when I was there then with people in the West!

[General Duke]

^^^Brother dont mind the nonsence. Some people always defend the like of Sharif Xasan Adan, former Qad merchant who was a tool of warlord Qaynyare and Sudi when he was suppose to be the speaker of Parliment. These same people attack other personalities.

 

Typical Somali hypocracy.

[NASSIR]

Originally posted by Nayruus:

You are talking about money and investments. I think unless this issue is left for the Federal Government to handle, we will get death and destruction. Somalia is weak and bleeding and doesn’t need any more tangled and complicated clan disputes that will come from resources exploitation unless it is administered wisely.

Even Federal Government is still in a weak position to undertake such projects. Only permanent government can and I hope things run smoothly for the TFG until the election of 2009.

 

The TFG has clear mandates only to restore peace to the country and build the institutions of the state and get ready to hold the general election by 2009.