Puntland Oil Update Expected Within a Week

[kingofkings]

 

Exploration companies in conjunction with Puntland state authorities are expected to update the public on the Shabeel-1 well this week, according to our source with Dharoor joint-exploration firm Africa Oil Corporation.

 

 

Our contact tells us that oil presence, and in a sizable quantity, has been encountered at the Shabeel-1 well, signifying a major potential yield for the greater Dharoor Valley basin. He told us that the Puntland Minister of Petroleum Issa Farrah is expected to address not just the local public, but the entire Somali public on the findings at the current stage, and that it is one with a significant impact. We were told that this can be expected within days.

 

Last week, our source stated that a public address was to be expected from Faroole during that 7-day block though it did not materialize as expected, but an announcement is on the horizon very soon, he stated, either from Puntland or the exploration companies, if not both.

 

Additionally, our source in Bari Province tells us that Puntland figureheads stated that exploration had for the most part ended, and that extraction is the next phase. We’ve been told that on top of this current well, programs for other wells will continue into the next two years in order to maximize Puntland’s petroleum-bearing potential.

 

Puntland leader Abdirahman Mahamud is currently situationed in the town of Qardho, roughly at the halfway point between the state capital Garowe and the Dharoor Valley drilling site.

 

(updates from Dissident Nation fill follow progress)

 

DissidentNation

[kingofkings]

so, this would probably explain as to why Faroole is staying in Qardo rather than heading back to PL's capital, Garowe. :cool:

[peasant]

hmm you are probably right why he is now in Qardho and not in Garowe..

[Wiil Cusub]

Range Resources' (LON:RRL) chances of a big oil find in Puntland, Somalia increased significantly with yesterday’s drilling update, according to broker Panmure Gordon.

 

The news was encouraging given the frontier nature of the exploration, added the broker, which has adjusted its estimate of

the chance of success to 40% from 12%.

“This newsflow de-risks somewhat this frontier play and we have upped our chance of success to 40%. We have accordingly adjusted our target price to 18p. We retain our Buy recommendation,” it said..

40% not even 50/50 chance why all this bla bla

[nuune]

^^ Xaasidnimada waxey nusqaamisaa iimaankaaga, marka hadii la dhahey 40% oo from 12%, taas soo war lagu farxo ma ahan, mise you are praying in aan waxbaba la helin, the work is going on as we speak, so you might hear that 50% anytime, and it will go up, so tartiib and walaalahaa u horseed wanaaga iskana dhaaf xasadka, waa talo intaas, and to those others who hold same opinion about the progress that is happening down there.

[peasant]

Somalidu hadii ay dhamaan sama ka talis ahaan lahayd wadankuba waa hore ayuu dhibka ka bixi lahaa.

 

Dhibka jira ah in midba midka kale hoosta fataxo uga maro si usan karin karin ugu kabin!

[Che -Guevara]

With all this suspense, there better be oil:D

[nuune]

^^Otherwise, jiq ay dad badan ku noqonee, well Soomaalida dhan ay jiq ku noqonee but the likes Sheikh Oil Dr Osman waxaan ka yaabi in la waayo meel uu cirib iyo jaan dhigey.

 

 

Peasant, xididka xasadka waa in nalaga wada siibaa, horumar baan gaareenaa kadib.

[Che -Guevara]

lool@ditoore

 

all of this talk, qofkastaa hunguri galey

[Wiil Cusub]

nuune;803563 wrote:

^^ Xaasidnimada waxey nusqaamisaa iimaankaaga, .

Faanka badana isagaa kiciya ama u yeedha xaasidnimada. Waxa la naga badiyay batrool iyo show la matalayo taasaa keentay inaan xaqiiqada ay soo qortay shirkadii wadatay hawshan inaa soo gudbiyo if rangers said 40% than reality is longway to go.

[NASSIR]

Batrool in la helo waqti buu qaadanayaa. Oil exploration takes years. You have to be patient.

[nuune]

Wiil Cusub;803620 wrote:

Faanka badana isagaa kiciya ama u yeedha xaasidnimada. Waxa la naga badiyay batrool iyo show la matalayo taasaa keentay inaan xaqiiqada ay soo qortay shirkadii wadatay hawshan inaa soo gudbiyo if rangers said 40% than reality is longway to go.

I know what you mean, Inshaa Allaah Ilaah kheyr haka dhigo, hadduu kheyr ku jiro ha noqdo mid ummada kheyr u soo wado.

[General Duke]

Good news..Its only been two months so far and there has been good progress on the ground...