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Dr_Osman

Oil exploration in Puntland, Somalia

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Somalia   

Horn Petroleum finds oil in Somalia well

 

Thu May 17, 2012 1:50pm GMT

 

(Reuters) - Horn Petroleum Corp confirmed the presence of oil at its Shabeel well in the Dharoor Valley basin of Somalia's Puntland.

 

"We are highly encouraged with these early results which indicate oil bearing sands in possibly two zones," CEO David Grellman said in a statement.

 

Horn Petroleum operates the Shabeel well. It holds a 60 percent working interest in the Dharoor and Nugaal blocks in the Puntland region in Somalia.

 

Puntland is a semi-autonomous region in the northeast part of Somalia. Booming oil exploration in waters off East Africa has led to speculation about the potential for finding oil offshore Somalia in the Horn of Africa.

 

Horn said the well encountered additional potential net pay sands -- which indicate the presence of oil or gas in commercial quantity -- in the Jurassic Adigrat formation.

 

Shares of the company, which has a market value of about C$123 million, closed at C$1.62 on Wednesday on the Toronto Venture Exchange.

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Thanks to Almighty God. A change of life, demeanor and psyche of the Somali people is on the horizon.

 

May Allah make this blessing prosperous and one which positively transforms the lives of our poor people. Amin

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This is by far the best (positive) thing that have ever happened to us. May we benefit from it and not become a curse that puts us back.

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Dabrow   

Qandalawi;831209 wrote:
Thanks to Almighty God. A change of life, demeanor and psyche of the Somali people is on the horizon.

 

May Allah make this blessing prosperous and one which positively transforms the lives of our poor people. Amin

Well said!

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"We are highly encouraged with these early results which indicate oil bearing sands in possibly two zones," CEO David Grellman said in a statement.

 

.

Could you please explain other words

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Somalia   

Wiil Cusub;831287 wrote:

Could you please explain other words

I'll explain this to you.

 

1. Somaliland is not in the picture, never was in the picture and never will be in the picture.

2. Jealousy is a disease, seek help.

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