LMAO...you and BinLaden are the funniest keep it up...i'm in stiches

"Hope is what motivates us to work hard and get things done. It's the idea that something better will happen in the future because of what we do." - George Anderton We have noted with interest the furore from investors - approaching almost maniacal levels – surrounding oil drilling activities in Puntland, Northern Somalia. This drilling is being conducted by Horn Petroleum (the Operator), where two of the companies we follow, Range Resources and Red Emperor Resources, each have a 20% working interest. Recent announcement from the Operators have highlighted the discovery of hydrocarbons and a working petroleum system; and this has heightened excitement levels further. So what’s it all about? Well simply put, such is the scale of prospectivity here that, should a real commercial discovery be made, it could have the potential to be one of the biggest oil finds in recent times. The well partners have undertaken to drill two wells back-to-back, with one well already progressed and the other ‘ready to go’. Drilling a well of this magnitude is a rarity, drilling two back-to-back is a definite bonus. So people, it would seem, are well aware of what a discovery in one well would mean and what that may also imply when looking at the likelihood of finding oil elsewhere across the licences. This activity hasn’t been lost at a local level either, with Puntland and Somalian websites drawing attention to the drilling and, in some cases, feeding back a whole array of rumours and speculation. Whether any of these rumours hold any substance is unclear and only formal announcements from the well partners should really be relied on. We too are excited, because MiningMaven works on the principle of only engaging with sponsoring companies where their business model is compelling enough that we would invest materially in our personal capacity - hence we hold an interest here as well and have done so for quite some time. So the stakes are indeed high and none more so than for the biggest stakeholders of all - the people of Puntland/Somalia. Poverty and internal strife have been a running constant in this part of the world for as long as most can recall. But hope may now be afforded, not by means or charity or external aid, but by the remarkable possibility that the Country may be sitting above some of the richest oil fields on the planet! And should oil be discovered in the manner many expect, the potential will exists to transform the lives of millions and generate conditions where the people of Somalia and Puntland may materially benefit from this new found source of wealth. Oil revenues generate wealth, and can channel investment into desperately needed programmes, such as health and education. Significant building programmes could be launched providing sound homes and utilities to bring power, water and sanitation. Investment in infrastructure building roads, public transport systems and commercial enterprise will help population mobility and provide jobs with real incomes so that people may take control of their own lives. Oil revenues can also provide the resources to build police services and armed forces. How much more can people achieve when they know their security is safeguarded, lives protected and their right to a peaceful existence pre-determined? But we often hear of countries, where substantial natural resources have been discovered, only to find that revenues are being channelled inappropriately, into the hands of selected individuals or groups. From what we have seen to date, should oil be found in Puntland, we would hope this would not be the case here; with stated good intentions and a seeming desire to ensure that all people across Puntland and Somalia share the benefits of the oil revenues with proper systems of governance and controls in place. http://bit.ly/puntland190312 We appreciate that some may consider such theorising as idealistic, and we are not making any assumptions here. Its far too early for that. But when your starting point is one of hope, then its only fair to at least give that hope a chance of being born out. Of course the ability to generate oil revenues requires foreign investment and this was forthcoming from Range Resources with their evident commitment to the development of Puntland oil opportunities. This required considerable focus and determination (and no small degree of risk appetite!), which resulted in the commitment of time and financial resources. That commitment was further enhanced with the involvement of Africa Oil, Horn Petroleum and Red Emperor Resources. All these companies have staked a significant proportion of their financial and human resources on the success of the Puntland oil exploration, as have the myriad of investors backing each company with money and time devoted to research and investigation. It has been a dangerous venture from the start and will probably remain so for some time to come. To identify drillable targets required material effort, over a number of years. Navigating the geopolitical challenges of in-country operations is never easy and this programme has also been fraught with difficulty; security concerns have required immense planning and resources. But with the vision of local leaders, the companies were able to commit to the drilling programme we now see in operation. And should an oil discovery be confirmed, evidence of oil revenues being fairly distributed and the ability of foreign companies to operate securely in-country will be vital for ongoing development. Many other foreign oil exploration companies will no doubt be following developments closely, and their willingness to engage and follow these pioneers with investment to expedite further oil discoveries, will very much depend on how things pan out for the first movers in terms of development and production. So, as investors we are in a unique position; that of being able to support a drilling campaign, the results of which could dramatically improve the lives of a local population whilst we also stand to benefit from a significant amount of upside should drilling prove successful. One note of caution however: whilst for investors, the excitement is palpable and the potential enormous, the stock market is not a valuation mechanism - certainly not at this stage of the game. It is simply a place to buy and sell shares. Almost inevitably, excitement on this level can lead to rather stretched overvaluations, especially should a major oil discovery be confirmed. The simple fact is that, whilst many investors are reluctant to buy when shares are lowly rated, they will desperately try to buy when excitement is running at fever pitch and the share has exhibited a rocketing uplift in price. As events unfold we will be interested to see what the market’s reaction is. Undeniably a major discovery will be a game changer for all companies involved, and further continuing drill success will build blocks of value that few other oil companies could look to match. And of course it’s not just us who are watching; with the world’s major oil companies hovering, a material discovery, and demonstrable evidence of the ability to work in-country,will surely attract a diverse range of interests. http://www.miningmaven.com/k2/news/blog/hope-in-east-africa/

Carafaat;805862 wrote: I blame Burnt Notice and his Madoff scheme LMAO...you crack me up Carafaat... u should go on the road with that kind of comedy

Carafaat;805425 wrote: What a nonsense. Your logic: Int community is involved because of the oil, the oil is discovered by Range and you are owner by Range. Now you should be thanked by all Somali's. Loooool Conoco, Philips and other big multinational and real oil producing companies already discovered oil back in the 80's. But facts dont seem to matter with some folks. Sure am...happy proud and excited Investor Thanks for the incoherent reply..now go back to school and learn how to construct a sentence that we can all comprehend

General Duke;804895 wrote: Puntland should provide water and electricity to every village in the State. Implement Cuban style education system. Every child should go to school. Construct a network of roads that connects all the regions and specially the Indian Ocean Coast. Develop the Fishiries industry. There should never be any talk of welfare or handouts. The focus should be how to develop jobs and educate the population. Excellent thread Duke isn't it far better to be discussing the positive potential of Somalia instead of the famine and war that has wrecked the country for the past 20 years!!! AfricaOil/Range have already contributed to building airports, hospitals and other community programs puntland hotels are full and puntland contractors are working on the project and securing it...and the international community is focused on getting Somalia back on its feet all because of THE OIL make no mistake this is only the begining and I have no doubt the people we ensure the massive benefits that will come will be shared with ALL to make Somalia strong again

care of Dafy our resident Geologist All good news but the fat lady hasn't sung yet. Oil and gas shows are good, progress is painfully slow but that's not really an issue. If they're running LWD they'll have a pretty good idea what the quality of those sands and shales are already but will confirm with the wireline logs. 9-5/8" shoe is a normal planned depth with one or two liners following and we should know soon what the first proper target reveals. Positive RNS but doesn't really justify the RMP response. Suspect they're being cagey with their info and JR seemed to know the 400m thing too soon for them to be giving us latest news. I always suspect they are deeper than they profess. They said it's an anticline which is basically a big domed sequence so a very typical trap with apparently no migration into the upper soils. Good update but it doesn't mean it's a winner quite yet but all the signs are good. I must stress that the biggest bonus is no problems and I'll be happy when they get that production casing in and cemented. Not long to wait now but keep the champagne cork in, maybe just take the wire off in preparation.

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

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

The Hermet;798936 wrote: I just discovered after reading the website: Somaliland Border Police "Excuse me...We dont know who africa oil is...we waiting for EXXON MOBIL Son" lol...keep waiting oh yeah, remember the Exxon Valdez??? they have a great safety record....though not as bad as BP

Freedom;798257 wrote: I just enjoy it lool I bet your veins are popping out Schadenfreude

The Hermet;795873 wrote: hhaaahahahahahahahhahahahahahahahaha.....please do continue while i wipe away the tears of laughter....halarious people. The girl is right, when you fuel up...have you ever heard of Range Resources??? no.... therefore the real companies as the lady put it are the real power brokers, they will never invest in Somalia without the insurance and proper security concerns settled, not to mention the infrastructure in place. This is no where in sight. Range resources as the owners of these basins can sell the rights to it for whatever they want considering they own the rights to it, also considering the secrecy concerning the oil rights in regards to the local admin there is a reason for the secrecy and im no sherlock holmes but secrecy usually involves something someone is not proud of. so all in all you digging a big hole, to sell the rights to a mickey mouse company no one has ever heard of only to not get the big companies because of politics, geography and insurance restrictions.This will actually be an impedement for other companies in the future. but please do continue.......:cool: LMAO...watch this space dude the big boys only come in once the little guys have done all the ground work don't stress you'll give yourself a heart attack...not long to wait now

good to see everyone pitching in and helping Somalia get back on its feet...i wonder why...couldn't be the oil could it ??? can't be ...oil is a curse lol ROYAL DUTCH SHELLA : Joint industry contribution to support community projects in Somalia On February 25, 2012 · In Cargo Incidents, Community, Featured ....Shell, BP, Maersk and the Japanese shipping industry today announced a joint initiative aimed at supporting community and job creation projects in the coastal regions of Somalia. This initiative is designed to make a contribution to the rebuilding of a stable and prosperous Somalia and, in so doing, reduce the risk of piracy to seafarers transiting the Indian Ocean. Each company will contribute around US$500,000 over a period of two years. Grahaeme Henderson, Head of Shell Shipping, said today, “Ending piracy lies in part in helping the people of Somalia, and providing education and alternative livelihoods. Shell is proud to have contributed to the broader counter-piracy effort. We very much hope that others in industry will join us.” “Piracy is a problem at sea, which must be addressed by the international community, and requires a long-term sustainable solution on land. We are willing to contribute to the solution, which is why Maersk supports this initiative,” said Hanne B. Sorensen, CEO of Maersk Tankers, on behalf of the A.P. Moller – Maersk Group. John Ridgway, Chief Executive of BP Shipping said: “This is a major issue which affects the safety and security of people working in global trade. We are pleased to support this initiative which will provide material help and opportunities for communities in the region.” The announcement coincides with the London Conference on Somalia being held today (23rd February) and hosted by the Prime Minister, the Rt. Hon David Cameron MP. Leaders from more than 50 countries and international organisations are focussing on seven key issues, including terrorism, piracy, humanitarian assistance and, crucially, what Somalis could do after the transitional government’s mandate expires in August. http://www.maersknews.com/?p=1705

NASSIR;794978 wrote: Totally agree. It will be a big time game changer. I am surprised at the high level of interest shown to the prospect of oil discovery. Somalia is no longer an irrelevant "ungoverned space". how long have i been saying that Nassir my old mate??? westerners don't give charitiy for nothing in return

and some people on here said there would be no benefit to the people in Somalia "The most important part of the 'whole story,' perhaps, is that even if Conoco finds oil in significant amounts, there will have to be additional steps and much more investment before Somalia can benefit. The first prerequisite will be that Somalia achieve internal peace. [President of Conoco Somalia Raymond] Marchand explains to [somali government] officials that if there is no peace, then neither Conoco nor anyone else will be able to get the oil out. A pipeline, pumping station and terminal would cost in the neighborhood of UDS 500 to 800 million..." http://www.cod.edu/people/faculty/yearman/somalia.htm

Libaax-Sankataabte;794878 wrote: ^^This high number probably includes the Indian Ocean estimate as well. Bingo

LMAO

Agreed, nice posts Dr O IF anyone is interested in the Kurdistan blocks in Iraq check out (GKP) Gulf Keystone Petroleum..they drilled the blocks there which targeted the same OIP as the blocks in Puntland

NASSIR;784894 wrote: BurnNotice, Definitely if oil is found, it would mark the end of history for Somalia. Relax Nassir...don't be such a drama queen Have a little faith

Carafaat Don't concern yourself with Range, they will be fine with or without Puntland but like Timur said they do deserve some credit for persevering with this project Yes some high profile somali's have a financial interest in range and will make a small fortune when they strike oil but with good governance the whole of puntland and the greater Somalia can prosper..especially those most in need The worlds attention is now on Somalia ..the US and UK are showing a lot of interest and I can tell you its alll because of the oil

General Duke;784837 wrote: Well said. Agreed, one of the best threads I have read on CMT Thanks to the positive contributors

Carafaat;784495 wrote: Burn Notice, tell us how much you earned so far on your big ponzi scheme here. Keep hating dude..let the envy consume you What have YOU done to help your people back home? Rhetorical question so don't bother answering as I doubt very much apart from being a cyber hero on these sites

General Duke;784414 wrote: ^^^^Its weird. But hey I love the new angle. Now its all about the "people". The same people the Al shabaab supporters here wanted to blow up. The secessionist supporters call "pirates" and "defeated lot" and who's regions they want to occupy. The same people that the fake nationalists nostalgics claim their houses are bigger than and so on... Adeer we shall not wait, nor procrastinate on our god given right to better ourselves. You can wait for your recognition, for your just government, we shall not wait any longer, not a second more to take what is ours... Magnificent posts GD Thank you for taking the time for sharing with us...& enlightening the others

Carafaat;783977 wrote: Brother Chimera is one the most constructive and enlightened folks around here. Have enjoyed every single of his threads here. Therefor an apology would be suitable in this case then. Unless you want the 9******* star Nomad opposing you for real. if Chimera believes what Bilan wrote has merit then it is as deluded. I will write an email to all the oil companies and tell them to stop throwing away millions of dollars on siesmics and just use Google earth to find the oil lol Messi rules

uchi;783447 wrote: Trust me, I read the previous contract Range signed with Cade, it was beyond his teams comprehension, they were ripped off, but it's a lot different now, a number of conditions were put in place & other parties were invited. Range only stuck around because they didn't want to hand out the data they gathered during Cade's time. perhaps MMA could have lent them a satellite to pin point the oil LOL

PS Congratulations...YOU won the ***** of the day award