Can anyone give a brief summary in English? Thanks P

Mintid Farayar - more rubbish! Admin, this poster has started a number of threads which seek to push a personal agenda.

http://english.horse edmedia.net/news/133 71.shtml Somalia: Puntland President discusses oil explorations with former leader Wednesday, March 25th, 2009 at 12:37 am Hussein Farah Horseed Media Dr.Abdirahman Farole, Puntland’s President who is currently on an official visit in neighbouring Djibout, met with former Puntland leader Gen.Ade Musse and foreign contractors, on Monday. The President’s office did not release any information regarding the closed meeting, but sources close to the President of Puntland confirm the meeting focused on the continuation of the foreign investment on some of the major development projects in Puntland. The two men also discussed in ways to carry on the oil exploration deals which were signed by Gen.Adde’s administration with Australian and Canadian African Oil company. There were also a number of Business men from the U.A.E who accompanied Gen.Adde in the meeting with President Farole. Source: Horseed Media

Young somali's need to make a change, by firstly examining their own set of values and principals. The Puntland Gov has an opportunity to show true leadership and wise judgement as it supports an exploration program which will benefit all. Somali's can view themselves as victoms or can embrace the future. No doubt, there will always be challenges associated with new found wealth.

In my dealings, I have found the Chinese people to be very nice on the whole but their human rights abuses are well known. At least most Western countries, adhere to an international code of conduct which protects basic human rights.

No offence meant, but you're very ill informed.

Not correct - that was seismic equipment! Seismic data was successfully collected and interpreted. A new farm in partner is being negotiated prior to commencing the drill program.

Yes, according to historical data! This time around, drilling is yet to commence, but AOC have reported positive seismic data.

The terms of the PSA are very favourable to the Puntland Gov/ People when compared internationally • The royalty rate for produced crude oil is set as a sliding scale with following rates: Table 3: Royalty rate sliding scale from (bopd) to (bopd) royalty rate - 25,000 4.0% 25,000 - 50,000 5.0% 50,000 - 75,000 7.0% 75,000 - 100,000 9.0% 100,000 and above 10.0% Source: Range Resources • Cost oil: after deduction of royalty, up to 70% of the gross income in each year will be put towards unrecovered capital and operating capital and operating expenses • Profit oil: after deduction of royalty and cost oil, profit is split 50% to the Puntland government and 50% to other parties • Taxes: any and all taxes that may in the future be imposed on petroleum operations shall be paid by the Puntland government on behalf of all parties out of the Puntland government’s share of profit oil

Someone with an axe to grind! and http://www.youtube.com/watch?v=19qI_vncg6U