HRN Oil Update

[Burn Notice]

HORN PETROLEUM UPDATES DRILLING

OPERATIONS IN PUNTLAND, SOMALIA

 

Vancouver, British Columbia, March 7, 2012 – Horn Petroleum

Corporation (“Horn Petroleum” or the “Corporation”) is pleased to

announce that the Shabeel-1 well continues drilling ahead on the

Dharoor Block in Puntland, Somalia and is currently at a depth of 2053

meters. The upper 1600 meters of section drilled to date includes a

thick section of Tertiary limestones and shales that appear to be a

regional seal as no oil or gas shows were encountered above this

depth. The well is currently drilling a 400 meter section composed of

interbedded sandstones and shales believed to be Upper Cretaceous in

age. Most of the sandstone intervals in this section have exhibited

oil and gas shows confirming the existence of a working petroleum

system. Determination of the quality of the reservoir and

prospectivity of any potential oil bearing intervals cannot be

determined until downhole electric logs and formation tests are

concluded.

 

The well has a planned total depth of 3800 meters and has yet to

penetrate the main reservoir targets in the Lower Cretaceous and

Jurassic. It is expected that the next electrical logging run will be

coincident with the running of the 9 5/8” casing at approximately 2400

– 2700 meters. Operations continue to run smoothly with no reported

security or operational incidents.

 

Horn President and CEO David Grellman commented “While we are

encouraged by the hydrocarbon shows in the well, there is still a

great deal of information which must be collected before we are able

to properly evaluate the results to date. We look forward to reaching

the main objectives and appreciate the continued support of the

Puntland Government and the local residents.”

 

The Shabeel well is targeting a large faulted anticlinal prospect and

is located on a Jurassic aged rift system which is part of the same

system that has proven to be highly productive in the Masila and

Shabwa Basins in Yemen that contain an estimated 6 billion barrels of

oil*. Source rocks are expected to be rich Jurassic Kimmeridgian

shales in the deep portion of the rift immediately down dip from the

Shabeel prospect. Reservoirs are expected to be sandstones and

carbonates of the Cretaceous and Jurassic systems analogous to

Yemen.

 

Horn Petroleum Corporation is a Canadian oil and gas company with

assets in Puntland, Somalia. The Corporation holds a 60% interest and

operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic

Rift Basin on trend and analogous to the large oil fields in Yemen.

The Corporation’s shares are listed on the TSX Venture Exchange under

the symbol “HRN”.

 

*Sourced from country and industry websites – not NI 51-101 compliant.

 

ON BEHALF OF THE BOARD

 

“David Grellman”

President and CEO

[Archdemos]

So what does this mean. Any geologists care to give a more detailed analysis of the above statement.

[Che -Guevara]

^Suspense mode I guess

[Archdemos]

What happened to Range Resources (Aussie i think), are they also drilling in different locations. They were pioneers in Puntland surely.

[Che -Guevara]

Shabeel - 1 spudded and is drilling to a planned maximum depth of 3,800 meters.

 

Drilling operations have also commenced on the Shabeel North-1

 

http://www.africaoilcorp.com/s/CurrentActivities.asp

[nuune]

^^ That is one a a heck deep down earth, hope they don't touch the earths crust, but that is 25 miles deep down which is 1600 degrees Fahrenheit, so not there yet

 

hadey sii qodaan waxaan ka yaabi iney Australia dhinaca kale uga dusaan.

[Che -Guevara]

LOL

 

It looks like they are doing exploration in Somaligalbeed too.

[Archdemos]

Does anyone know if these companies are being monitored so they don't create a disaster by contaminating the water table. It seems naive to think that they are operating in the same way as they would say in USA, one can only hope.

[nuune]

Arch, there is no Quality Control in Africa, and let alone Somalia, but at least even if they work the same way as in USA, that is welcome, otherwise the African way would be disaster where they throw every chemical on the streets and on the ocean.

 

 

Che, Somaligalbeed, in where, jigjiga, godey, wardheer, I am familiar with Wardheer and its surroundings, and it has oil and gas, folks there even said you don't even need to dig deep for oil, asagoo kuus kuusan oo madoow uu yaalaa bannaanka when you dig few meters only, this was confirmed by many people, the areas now are guided by Tigrey troops.

[Che -Guevara]

^You mean they could possibly be using our resources against us-dang it.

 

Didn't they explore the area way back in 50s and 60s?

[nuune]

They did, but in different areas, some places don't even need exploration as in the case I mentioned, just waiting to be refined lee.

 

 

As recent as last year, they were talking about dhuun dheer oo tuubo intey isticmaalaan and transport this oil to a region next to Somaligalbeed(anywhere safe), but they have failed, and then they talked about buying 250 tanker trucks that will ship the crude oil from that place to a refinery in Addis Ababa, that too failed, waxaa la yiri xoolo aadan laheyn hadaad u tashato adna waa laguu tashan, so while the Tigrey is talking about stealing our resources, then there is another unseen force that makes their whole planning go astray.

[Che -Guevara]

I wonder how the power dynamics if oil is actually found in Somalia. It should be an interesting moment in history.

 

You gotta give to the Woyanes, I am surprised they are holding this country together for this long, I guess long enough to suck all resources.

[General Duke]

Burn Notice;799925 wrote:

HORN PETROLEUM UPDATES DRILLING

OPERATIONS IN PUNTLAND, SOMALIA

Dharoor Block in Puntland, Somalia and is currently at a depth of 2053

meters. The upper 1600 meters of section drilled to date includes a

thick section of Tertiary limestones and shales that appear to be a

regional seal as no oil or gas shows were encountered above this

depth. The well is currently drilling a 400 meter section composed of

interbedded sandstones and shales believed to be Upper Cretaceous in

age. Most of the sandstone intervals in this section have exhibited

oil and gas shows confirming the existence of a working petroleum system

 

 

“David Grellman”

President and CEO

That line means they found Oil, working on how much. Thanks Burn Notice for the update..

[Burn Notice]

Cheers General...at least somone can read between the lines

[NASSIR]

It's better if they start drilling on Maroodi-1 near Galgala and Nogal block near Garowe. I believe the work would've been much easier, but that requires an environmental and resource allocation policy.

 

as

no oil or gas shows were encountered above this

depth.