Puntland: seismic programme [Oil] update

[General Duke]

Range Resources seismic programme starts Puntland

Posted to the Web Jul 16, 07:29

 

Range Resources (AIM: RRL, ASX: RRS) announced that Africa Oil Corp, its 80% joint venture partner for the company’s two onshore oil and gas concessions in Puntland, started seismic recording on July 14th.

 

Africa Oil already has more than 4,000 kilometres of good quality 2D data for the Nogal Basin Block in Puntland, Somalia. The plan is to acquire approximately 2,600 kilometres of 2D seismic data on the Dharoor Block before drilling two wells in each of its two Puntland concessions.

 

The concessions encompass two highly prospective hydrocarbon basins and cover an area of 81,000 square kilometres or more than 20 million acres.

 

President and CEO of Africa Oil, Rick Schmitt, commented:

 

"We are very pleased with the progress made in our concessions and appreciate the excellent support received from both the Puntland Government and the Transitional Federal Government. Commencement of the seismic program has also reduced the logistical demands on our Puntland infrastructure and we are now working hard to reinstate the drilling program in order to commence drilling during 2008."

 

Source: Proactiveinvestors

[General Duke]

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