Range resources on Somali oil hunt [go Puntland]

[me]

So the Yemani basin contains excess of 9 billion barrels of oil? Current capacity is 400.000 barels a day.And Somalia is part of that basin? and these folks are selling it for what peanuts? 12 million dollars? Are they on crack? If this SOMALI treasure is well managed we can rebuild our country with it. This is not qabiil X or qabiil Y's or some crooked politicians land its for the whole Somali nation and it should be defended by all Somalis.

 

Come onnnn 9 billion barrels with the oil price of 60/70 dollars a barrel and rising.

[me]

Originally posted by Sophist:

Me: This really makes me livid! throwing away the resources of our country like this. This Canmex Minerals is a minning company has nothing to do with Oil; I will speak to a canadian friend of mine of is securities lawyer and perhaps a file a request about info on this.

 

This is outrage.

This is beyond outrage, I do not appreciate being ripped of like this. We are not Papua New Gunia or Angola or Congo. This is insult to the whole Somali Nation.

 

Keep us updated man.

[Sophist]

I will insha Allah. These guys approached many respectable Oil companies and they were all turned down for the the farm ins! Now they found themselves with another Minning company is forging for 50 mill! DAY LIGHT ROBERY.

[Thankful]

Some good news coming out of Somalia. Rather then the non-stop talk of imminent war.

[Paragon]

^^ Sxb it is a day light robbery and Cade would make this robbery good through force. A superiority over the folks whose land is sold in international pirate markets for peanuts. If necessary Cade would not hasitate to secure this lands by total capture. 'Power corrupts, absolute power corrupts absolutely', and Cade is shopping for the very tools of power needed to subjugate his fellow kinsmen for few pennies. Would they accept such utter disrespect? I wonder.

[Ms DD]

When will we ever stop talking and start acting?

What we need is is transparency and accountability from this weak government. How are we going to acheive that? I trully get depressed of the sad state of affairs in our country.

 

Someone said that the findings are a curse. This curse could make a large contribution to alleviating poverty and misery of our people. Probably a bit too much to ask from our leaders.

 

You dont have go further from Africa to countries that are rich in natural resources which are often poor because exploiting those resources takes precedence over good transparent government. It is about time oil and mining companies and their governments stop dealing with these regimes.

This has bred corrupt and repressive governments and armed conflict. In Africa, civil wars have devastated resource-rich countries such as Congo, Angola and Sudan. As somalis, shouldnt we learn from the past mistakes of these countries? Now would be the worst time to exctract natural resources as we are in the middle of civil war.

 

Lets look at what is happening Chad, Angola and other African and ME countries. By right those poor people should have a share of the loot, instead ordinary people have seen nothing.

 

I was reading in the Guardian that Chad's original oil deal gave the country 12.5% of the royalties (a deal that was reached 15yrs ago when oil was about $15 a barrel). Now it is about $60. Chad's President complains that Chad has received only $500m in the three years the oil has been flowing, compared with the $5bn banked by the oil companies. Now these companies get $5bn whilst the whole country get only $500m. Is this the path Cadde Musse is leading to us?

 

Our best hope is the diaspora Somalis that are particularly well-equipped and well-positioned to take charge and lead efforts to interrupt these dealingsand foil any efforts to rip the ordinarry people off. But how is the question?

 

I honestly think that it is baout time Somalis step up to the challenge.

[me]

How about we start an organization that investigates and focuses on how to high light these matters?

 

 

SOL Friends of Somalia?

 

Anyone willing to rise above the cyper persona?

[Paragon]

^^ Not a very bad idea Cambaro and me. Actually I am going to post a little history of how many deals that were entered between the Somali Democratic Republic and oil exploration companies from 1986 to 1990. This may give us an idea of how today's contractual agreements between Puntland and Range Resources et al. share a similar pattern to those deals made between the SDR and other companies. Heck, it may be possible that some of those who brokered the deals then are now involved in current deal making- may be they created a career in shady dealing without the necessary Foreign Investion Law knowledge and experiance? Possible.

[General Duke]

^^^lol. people lets be happy Puntland is making some strides towards development. Insha Allah it will all work out. I see the experts here [sophist has some knowledge, old man give me a ring] but the rest here are just the ususal..

 

more info..

 

Xasan Alloore oo sheegay in shirkad Canadian ahi dhowaan shidaal ka qodi doonto Puntland

 

 

Garoowe:-Agaasimaha Macdanta iyo Shidaalaka ee maamulka Puntland, Hassan Osman Allore, oo dhowaan General Cadde Muuse jagadan u magacaabay ayaa sheegay in shirkad dulaal ahayd oo lagu magacabi jiray Range resources ay ku guulaysatay inay heshiis bilow ah la gasho shirkad Canadian ah oo lagu magacaabo Canmex.

 

Shiradan Comex ayaa la sheegayaa inay iyadu tahay Shirkad leh awood dhaqaale iyo khibrad xagga qodista macdanta iyo shidaalka, waxayna ay horay uga soo shaqaysey sida la sheegayo isla dalka Soomaaliya, Libya, Bariga dhexe, Sudan, papua new guinea, Malaysia,dalka Igiriiska, Vietnam iyo Rushka.

 

 

Warar ku dhow dhow heshiika labda shirkadood ayaa waxay sheegayaan in shirkada Comex ay ka howlgayso gobolka Nugaal iyo halka lagu magacaabo Darin oo iyana Bariga ku taal, Waxayna labdan meelood ay shirkadu ka qodaysaa afar ceel oo ah kuwo shidaal laga baarayo,waxaana ay gelin doontaa baa la yiri dhaqaale gaaraya 50$ Million doolar inta ay qodista wadaan.

 

Labadan shirkadood oo midna la sheegay inay shidaalka qodayso midna dulaalayso ayaa waxay mudo afar todobaad ah ku soo diyaarinayaa xeerka iyo qaabka ay u qaybsanayaan faa’iidada soobaxda.

 

Maamulka Puntland ayaa lagu waramayaa in iyana ay arinta heshiiska ka wada hadli doonaan kolkii ay labada shirkadood soo heshiiyaan.

 

Waxaa jiray shirkada tuugo ah oo horay ugu soo qamaamay gobolada Puntland, lana sheegay inay maamulka halkaas ka jiraa ay ka qaateen lacago xoogan, oo si gaar ah loo siticmaalay iyada oo aan haba yaraatee dalka iyo dadka midna waxba dib loo gelin.

 

Waxaa jira musuq maasuq iyo maal abuuris shaqsiyeed oo ku baahday madaxda maamulka Puntland , waxaa gobolku noqday mid u shageeya shaqsiyaad fara ku tiris ah.

 

Waxaa iyana lagu hungoobay balan qaadyo uu horay u sheegay Cadde Muuse inuu wax kaga qaban doono musuq maasuqa, waxaa hadda jira warar soo baxaya oo sheegaya in isaga laftigiisu uu xubin ka noqday xagga musuqa.

 

Si kastaba ahaatee haddii arinta shidaal qodistu dhab noqoto si wanaagsan loo maamulo,waxaa ka soo bixi kara dadka oo shaqo ka hela iyo wadanka oo dib u dhis iyo dhaqaale wanaagsan yeesha,waxaase dad badani durbaba ku hadaaqayaan inaysan kuwii hore wax badan dhaami doonin,hadaan caqli iyo wadaninimo lagu maamulin

Wararka Waayaha.net

[General Duke]

Heshiis ku saabsan baarista khayraadka Puntland oo dhexmaray Shirkadaha Ranges iyo Canmex, oo taageero buuxda ka heley Dowlada Federaalka Somalia iyo Dowlad Goboleedka Puntland.

Posted to the Web Oct 13, 19:16

 

 

 

Puntland: ( pp) - Agaasimaha Guud ee Macdanta iyo Shidaalaka ee Dowlad Goboleedka Puntland, Hassan Osman Mohamud (Allore), ayaa wuxuu maanta saxaafada u sheegay in Range resources oo in muda ah ka shaqaynayey sidii loo soo saari lahaa khayraadka puntland ay ku guulaysatay inay heshiis bilow ah la gasho shirkad Canadian ah oo lagu magacaabo Canmex.

 

 

 

Canmex waa Shirkad leh awood dhaqaale iyo khibrad dheeraada oo ah dhinaca baarista iyo soo saarka shidaalka, waxayna horay uga soo shaqaysey , Somalia, Bariga dhexe, Libya, Sudan, papua new guinea, Malaysia, Vietnam, United Kingdom, Russia.

 

 

 

Heshiika labda shirkadood wuxuu tibaaxayaa in shirkada Canmex ay ka howlgayso Nugaal iyo Darin, Waxayna labdaa goobood ka qodaysaa afar ceel oo shidaal baaris ah, kuwaas oo ay gelinayso dhaqaale dhan $50Million Xiliga baaritaanku socdo.

 

 

 

Labada shirkadood waxay mudo 4 asbuuc ah ku soo diyaarinayaa xeerka iyo qaabka faa’iido wadaaga waxsoo-saarka, Markaas oo ay Dowlad Goboleedka puntland iyo shirkadaha maal gelinta samaynaya ay kawada xaajoonayaan saamiyada iyo xeerarka wada shaqaynta.

 

 

Isafgaradka labada shirkadood waxaa taageero buuxda siiyey, Madaxwaynaha Dowlada Federalka Somalia Abdullahi Yusuf Ahmed iyo Madaxwaynaha Dowlad Goboleedka Puntland Mohamuud Musse Hirsi.

 

 

Daabacaada: Puntlandpost.com

[General Duke]

Canmex Signs MOU to Acquire Interest in Two Oil and Gas Prospects in Puntland, Somalia

 

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 11, 2006) - Canmex Minerals Corporation ("Canmex" or "the Company") (TSX VENTURE:CXM - News) is pleased to announce that it has signed a non-binding Memorandum of Understanding ("MOU") to acquire an 80% interest in licenses covering the highly prospective Nogal and Al Medo/Darin basins in the state of Puntland in northern Somalia. The Nogal and Al Medo/Darin basins are considered world-class exploration plays with a petroleum system identical to and formerly contiguous with those within the Republic of Yemen. To view map please click on the following link:

 

http://www.ccnmatthews.com/docs/CXM1011.jpg.

 

 

The Yemeni basins, after 20 years of exploration and development drilling, are known to contain in excess of nine billion barrels of oil equivalent reserves with current production of over 400,000 barrels of oil per day. Most production has been from Lower Cretaceous Qishn sandstone reservoirs sourced by Upper Jurassic Madbi Shales. In Yemen, between 1994 and 2006, there was an average discovery size of 96 MMBOE recoverable reserves with a discovery success rate of 23%.

 

Somalia, part of the same land mass as Yemen prior to rifting in the Gulf of Aden, is a virtually unexplored territory, with only 60 wildcats in some 580,000 km2 of sedimentary basins, 11 oil and gas discoveries, and a wildcat success rate that is comparable with the best oil provinces in the world. Mature, oil-prone source-rocks combined with multiple reservoir rocks and structures occur in a variety of geological settings. The sedimentary basins within the acreage covered under the MOU are identical to the productive oil basins of Yemen.

 

 

The MOU has been signed with Range Resources Ltd. ("Range"), a public company listed on the Australian Stock Exchange. Canmex and Range are at arm's length. Pursuant to the MOU, Canmex has the right to acquire an 80% interest in the licenses and operatorship thereof in exchange for: (i) the financial commitment over an initial four year period of US$50 million in exploration expenditures; and (ii) the payment to Range of an additional US$3.5 million upon commencement of commercial production. Completion of the transactions contemplated in the MOU is conditional upon: (i) the successful completion of technical and legal due diligence by Canmex; (ii) negotiation and finalization of definitive binding agreements between Canmex and Range, including a Joint Operating Agreement and binding agreements among Canmex and Range and the Ministry of Energy of Puntland, including a Production Sharing Agreement; and (iii) all requisite governmental, regulatory and other consents including those required in Puntland and the Somali Republic.

 

 

The acreage that is covered by the MOU is currently licensed to Range under a Contract of Work (CoW) issued under the authority of the Puntland State Government and includes both hydrocarbon and mineral rights. The Transitional Federal Government ("TFG") of Somalia recognizes the State of Puntland and has recently endorsed the Range CoW and the proposed Range/Canmex partnership. Discussions have commenced with the Puntland State Government to agree upon terms for a Production Sharing Agreement over the Nogal and Al Medo Basin hydrocarbon concessions.

 

 

Forward-looking statements: This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and management's capacity to execute and implement its future plans. Actual results may differ materially from those projected by management.

 

 

ON BEHALF OF THE BOARD

 

 

J. Cameron Bailey, Director

[General Duke]

[Paragon]

^^ I was reading this article on Dhahar online and what made me laugh was its headline 'Cade Muuse oo Wali wada riyadii shidaal ka qodista Woqooyi Bari'. I say they got it right, the old man is dreaming - and Range Resources is selling off blocks on paper because in practical terms I doubt if any real exploration would take place. Unless, that is, Cade grows clever all of a sudden and consults with the people of the land.

[me]

Hahahahah General Duke trying to flood the thread with non sense. waa isla caadi Herr General, meesha ay ku gaadhsiiso ha la arko.

[NASSIR]

There are strategic, environmental, and financial flaws of these deals. Dr. Salah Fatah and Omar M. Abdi write, "we strongly believe that the approach and leadership with which Puntland administration has handled this agreement was debilitated by ineptitude, greed, lack of vision, and was beset with arrogance and inflated egos. We identified three major flaws of the deal."

 

In their article, now available at Dhahar.com has some corroborating documentation supporting their assesment. [elipsis in original]