Africa Oil says secures rig for Puntland drilling (Everything in Place for Historic October Drill)

[Fiqikhayre]

Africa Oil says secures rig for Puntland drilling

Thu Aug 18, 2011 1:07pm GMT

 

NAIROBI (Reuters) - Canadian oil and gas explorer Africa Oil Corp has signed a contract for a drilling rig for two exploration wells it plans to sink in Africa's Puntland with it partners.

 

Earlier in the year, Africa Oil said it planned to drill up to eight exploratory wells in blocks it holds interests in across east Africa, two of which will be in the semi-autonomous Puntland region in Somalia.

 

"We are very pleased to have signed a drilling rig contract and to have procured the required services to allow us to commence drilling operations in Puntland," Keith Hill, Africa Oil president and chief executive, said in a statement late on Wednesday.

 

The company said it had awarded a contract to Sakson Drilling and Oil Services for a 1,500 horsepower rig.

 

The two wells will be drilled in the Dharoor Valley Block, in which it has a partnership with Range Resources and Red Emperor to drill on areas targeting gross best estimated prospective resources of over 300 million barrels each, Africa oil said.

 

"The majority of the drilling-related third party service contracts have now been entered into ... which is expected to allow for the spudding of the first well during the fourth quarter of this year," Range Resources said in a separate statement.

 

Gas discoveries in Tanzania, and significant proven oil reserves along the border between Uganda and Congo have encouraged interest in the region, which had been largely overlooked.

[Fiqikhayre]

With the signing of the drilling contract by Africa Oil the foundations have been laid for the drilling of the first prospective oil producing well to be spud at the start of the fourth quarter of this year in October.

 

The first well to be drilled will be Shabeel-1 that has significant Oil reserves as projected by the Seismic Survey done in the Exploration phase.

 

What will happen now is that after signing the drilling contract Sakson Drilling and Oil Services will provide and bring a 1,500 horsepower rig to Puntland in order to commence the drilling for Africa Oil under it's newly formed Horn Petroleum Company and Partners such as Range and Red Emperor Resources.

 

The drilling and spud of the first oil well will take place in the Dharoor Valley in the autonomous region of Puntland in Somalia.

[AYOUB]

Keep updating us.

[Fiqikhayre]

 

With the drilling now there will be work available for many people whether they live in the Dharoor community, Puntland, Somalia or rest of the World.Many people will find work and riches and the diaspora is likely to profit from it, if their expertise lie within the Oil sector or related ones. I certainly would up-date my CV.

[General Duke]

Insha Allah khair the Oil will be a game changer.. Drill baby drill

[Fiqikhayre]

Ayoub Inshaallah I will update all of you to the progress of Shabeel-1 and it's expected estimates in Oct/Nov this Year.

[Fiqikhayre]

Duke it's at a crucial and last stage now with the rig in place the OIL will be flowing inshaallaah. This announcement late last night by Africa Oil is indeed a game changer, the exploration has been done, all the assessment and contract's signed. What was missing was the Equipment now Sakson Drilling and Oil Services will provide these equipment.

 

Expect to be arriving it soon inshaallah, then there will be only one thing left the actual drilling and then hopefully the Huge Oil Reserves we have been so eagerly anticipating for so long. Drill Sakson Drill oh Yes.

[Fiqikhayre]

Africa Oil Clinches Rig for Puntland Program

 

Africa Oil Corp.|Thursday, August 18, 2011

 

Africa Oil provided an update on drilling operations related to the two-well exploration program in the Dharoor Valley Block, located in Puntland (Somalia).

 

Drilling locations have been selected over two robust prospects targeting gross best estimated prospective resources of over 300 million barrels each, based on internal estimates. A contract has been awarded to Sakson Drilling and Oil Services who will provide a 1,500 horse-power, top drive equipped rig. The majority of the drilling-related third party service contracts have been entered into and all outstanding service contracts are expected to be completed before the end of August.

 

The Company is actively engaged in sourcing drilling related materials and early stage logistics including drill site and ingress route construction. A contract has been signed with a water well drilling company and water well drilling will commence in early September. Mobilization of required personnel and equipment is planned to allow for spud of the Shabeel-1 well during the fourth quarter of this year.

 

The Puntland Government and Dharoor Valley communities are fully supportive of the drilling project and have ensured they will do all that they can to allow the project to move forward safely and expeditiously.

 

Please refer to the Company's press release dated August 11, 2011, detailing a proposed transaction whereby the Company will transfer its interests in the Puntland production sharing contracts to Denovo. Assuming completion of the transaction and related financing, it is anticipated the Company will own approximately 50% of Denovo. A private placement of CAD$40.9 million has been closed by Denovo subject to final TSX Venture Exchange approval of the transaction which will allow the new combined company to fully fund the upcoming two well program.

 

Keith Hill, Africa Oil's President and Chief Executive Officer, commented, "We are very pleased to have signed a drilling rig contract and to have procured the required services to allow us to commence drilling operations in Puntland. With support from the local communities and Puntland Government, we are eager to drill the first exploration wells in Puntland in over 20 years, aimed at unlocking the resource potential of the area."

[Fiqikhayre]

"Mobilization of required personnel and equipment is planned to allow for spud of the Shabeel-1 well during the fourth quarter of this year"

If that is you Apply.

[Fiqikhayre]

Keith Hill, Africa Oil's President and Chief Executive Officer, commented:

 

"We are very pleased to have signed a drilling rig contract and to have procured the required services to allow us to commence drilling operations in Puntland. With support from the local communities and Puntland Government, we are eager to drill the first exploration wells in Puntland in over 20 years, aimed at unlocking the resource potential of the area."

[Fiqikhayre]

I like this one as well:

 

A contract has been signed with a water well drilling company and water well drilling will commence in early September.

[Fiqikhayre]

The Company is actively engaged in sourcing drilling related materials and early stage logistics including drill site and ingress route construction

[Fiqikhayre]

Further

 

The Puntland Government and Dharoor Valley communities are fully supportive of the drilling project and have ensured they will do all that they can to allow the project to move forward safely and expeditiously.

[General Duke]

Open a resturent/Cafe in the drilling area. That would make a nice return.

[Fiqikhayre]

Duke that is a possibility or better why not build even a modest abode or rent out your heavy good vehicle. The possibilities are endless for making money as I am sure all those personnel/workers need somewhere to stay/eat.