Garowe: Oil exploration phase

[General Duke]

 

 

[General Duke]

 

[General Duke]

 

 

[General Duke]

 

 

[Che -Guevara]

Here is one of their quarterly reports from 2006 web page

 

And they are listed on TSX web page under symbol AOI.

 

The TSX Venture Exchange used to be called Canadian Venture Exchange. It was a merger between Vancouver Stock Exchange and Alberta Stock Exchange. It basically listed that companies that don't have enough assests, and hence he couldn't be listed on Toronto Stock Exchange. Both TSX venture group and Toronto Stock Exchange are now owned by TSX Group Inc. TSX venture lists new emerging companies which includes alot of mineral and oil exploration companies. The Africa Oil Company happens to be one of those companies. It looks like they would need a third party probably a venture capitalist to bankroll their operations in Puntland.

[General Duke]

^^^A small company from Texas named Hunt did the same thing in 80s in Yemen. Many people thought it was crazy. They can take more risks and if they do find it they will have the multinationals coming in as happened in Yemen.

 

Anyhow lets hope things work out we need the cash injection and one must note this is a long term project.

[General Duke]

Allsanaag.com has made a detailed report with great pictures.

 

Wafdi aad u ballaaran oo uu saaka hogaaminayey wasiirka macdan iyo shidaalka Xasan Cusmaan Maxamud Aloore oo ay kamid ahaayeen injineero ka socdey shirkada AfricaOil Corp ayaa saaka u anbabaxey deegaankaasi halkaasi oo lixda bilood ee sooscota laga baari doono.

 

Kulan gaaban oo ka dhacey meesha laga baarayo ayaa waxaa halkaasi ka soo qeyb galey qaarka mid ah isimada deegaankaasi iyo odayaashii oo iyagu si weyn u soo dhaweeyey arintan.

 

Wasiirka macdanta iyo Shidaalka oo halkaasi ka Hadley ayaa sheegey inuu aad ugu faraxsan yahay sida weyn ee loogu soo dhaweeyey deegaankan iyadoo maantana ay tahaye bilowgii waxqabadka balse ay ka faa’iideysan doonaan bulshoweynta reer Puntland.

 

Mr Kin Watson oo isna halkaasi ka Hadley ayaa mahad ballaaran u soo jeediyey odayaashii sida weyn ugu soo dhaweeyey halkaasi waxaana uu sheegey iney bulshada degen deegaankaasi ay ka caawin doonaan inta ay joogaan dhinaca caafimaadka iyo biyaha oo uu sheegey in iyagu ka caawin doonaan dadka ka agdhow.

 

Beldaaje Cali Faarax oo isna halkaasi ka Hadley ayaa ugu mahadnaqey madaxda shirkada iyo waliba masuuliyiinta Puntland waxaana uu sheegey in ay maanta Puntland ku tallaabsatey horumar weyn loona baahan yahay in laga faa’iideysto.

 

Isku soo wada duuboo maanta ayaa waxaa halkaasi la geeyey qalab aad u tiro badan oo ay ku shaqeyn dooonaan shaqaalaha ajanibaga ah ee gaaraya ilaa 65ta oo isugu jira Yurub iyo American.

[Che -Guevara]

^Might not be bad idea to buy their shares

[General Duke]

^^^Not bothered about that, my concern is development for that vast empty land of ours.

[Baashi]

Political stability is prerequisite for mature industry such as O&G to take root and succeed. Clearly that is not the case.

 

Logistics, local suppliers, and nuts and bolts of the trade are all lacking. Folks are not positioned to take advantage of the exploration effort.

 

The other thing is folks involved in finalizing the deal are not up to the task. I know some of the personalities involved. Allah help them.

 

In any event, I wish them luck.

[Che -Guevara]

Originally posted by General Duke:

^^^Not bothered about that, my concern is development for that vast empty land of ours.

Tying your personal interest to the development of the region ain't bad idea mate.

[General Duke]

Bashi -its important that these types of steps are taken. Our gulf brothere were even in worse shape when the Americans & Europeans came and changed their fortunes. Waiting for a political deal with the clowns of Asmara wont change a thing.

 

Anyhow great things ahve been achieved by average joes, thus good luck to them, this is just a small step nothing major.

 

Che- Its true but my interest lies elsewhere than purchasing shares of these companies. I just want to go back and live in Somalia for good.

[General Duke]