Final Oil Drilling Equipment Lands in Bossaso

[Dr_Osman]

The oil is a reality boys your just all devastated that Puntland will progress while your left behind however rather then hating get yourself a Puntland Citizenship!!!

 

Puntland Resource Map

 

Puntland Resource Map Detailing Offshore. Notice how bigger the land the offshore oil sits on compared to the onshore oil!!! If the onshore oil has 19 billion barrells then its safe to assume the offshore is double that cause the exploration land is four times the size!!!

 

Range Resource on-going bari projects include silver at qandala, coal at dhurbo, minerals at majiyahan

 

Older PICS

 

Oil Pipes Boys!!!

 

Water Tanks

 

Containers

[Beer-Gaal]

the whole project is very secretive and underground operation which ordinary Punts knows by nothing or little about it , that is the reason why the Dr ka is unable to post any pics, but as far the rumors goes the drilling equipment has arrived Bosaso and consequently transported to the site that is waa sheekada suuqa Bosaso. I'm pleased to say though the project hired my own leela calaawi and guess what they pay me twice the market price per month, so God bless Range resources and Faroole for that matter.

[Jacaylbaro]

the project hired my own leela calaawi and guess what they pay me twice the market price per month, so God bless Range resources and Faroole for that matter.

[uchi]

http://www.asx.com.au/asxpdf/20111206/pdf/4233214dnnz8hn.pdf

 

Accept agreement > Scroll to pages 25-27.

 

Estimated 3.6 Billion Barrels located onshore. Let's hope the agreements are done in a way to minimize environmental impact, naturally our drinking water is also found underground.

 

Maybe someone screenshot the pics & upload them here?

[Dr_Osman]

Uchi, do you struggle reading? the report says 3.6 billion attributable to range its their share 20% of 19 billion barrels of oil which works out to be 3.8 billion. Stop downplaying the oil as if only 3.6-3.8 billion barrels are in place on-shore and stop misleading the people. Thats Range resource slice of the pie and they even say it in brackets twice!!!

[Dr_Osman]

Under the agreement with Puntland will received between 4% and 12% royalty on all production and a 50% share in profits for any oil and gas discovered onshore.

Please note that all the investment, exploration, studies and so forth Puntland hasn't paid a cent, so the production agreements first must pay off all the costs the resource companies paid into the project which Puntland will still get its royalties but the real cruncher begins after the initial costs is paid off and were talking profit oil that is where the real money is!!!

 

In the quote above thats what cade muse signed, but farole amended it saying Puntland was getting ripped off because in general production agreements with other nations after the initial cost of oil is recovered and paid back to the resource companies they sign 80-20 agreement on any profit oil with other governments. I think that what farole signed in the re-signing of the production agreement. He might of amended the royalties a bit higher but I doubt it will be that high untill the initial costs are paid off.

 

Either way on bad deal which was cade signed that was the statistics I posted and Farole said he wanted a better deal so it's only going to get better but as of yet their is no information available on what exactly those figures are!!!

 

So put it this way the initial exploration, drilling, production assets will probably total 250 million after all is said and done. Puntland will recieve a royalty of 10% while that is happening and after those assets are paid off and we enter the profit oil margin we will have 80% of whats recovered!!!

 

So 19 billion barrels in place you can imagine how quick 250 million will be paid off and how much money will still be left over for Puntland

[Fiqikhayre]

It says 'Opec' on top

 

Photo taken today 28-12-2011 in a location somewhere in Bosaso.

 

[uchi]

Sorry I was tired when I posted that, my mistake Doctor...can you ever find it in your heart to forgive me?

[Som@li]

Dr_Osman;768239 wrote:

Please note that all the investment, exploration, studies and so forth Puntland hasn't paid a cent, so the production agreements first must pay off all the costs the resource companies paid into the project which Puntland will still get its royalties but the real cruncher begins after the initial costs is paid off and were talking profit oil that is where the real money is!!!

 

In the quote above thats what cade muse signed, but farole amended it saying Puntland was getting ripped off because in general production agreements with other nations after the initial cost of oil is recovered and paid back to the resource companies they sign 80-20 agreement on any profit oil with other governments. I think that what farole signed in the re-signing of the production agreement. He might of amended the royalties a bit higher but I doubt it will be that high untill the initial costs are paid off.

 

Either way on bad deal which was cade signed that was the statistics I posted and Farole said he wanted a better deal so it's only going to get better but as of yet their is no information available on what exactly those figures are!!!

 

So put it this way the initial exploration, drilling, production assets will probably total 250 million after all is said and done. Puntland will recieve a royalty of 10% while that is happening and after those assets are paid off and we enter the profit oil margin we will have 80% of whats recovered!!!

 

So 19 billion barrels in place you can imagine how quick 250 million will be paid off and how much money will still be left over for Puntland

And how long will it take for the initial production cost to be paid with interest by Puntland? before Puntland gets more than 4%? Dr Osman?

[Dr_Osman]

uchi yes the plan is 10% royalty when the production of oil begins, we will still get only 10% untill all the costs associated with drilling, exploration, infrastructure is paid off. We can assume the cost of all the debt wont be above 250 million tops because at the exploration stage its at $150 million mark right now as we speak, I doubt the infrastructure, pipes, dedicated port, so forth will be above 100 million so if you combine both were looking at 250 million after all is said and done and were in production mode.

 

So 10% to keep us going untill we pay off the 250 million, after which 80% of the revenues is ours, 20% for the companies. You can imagine 19 billion barrels x $100 current market price were talking 2 trillion dollars revenue and if u take away the initial costs of 250 million so from 2 trillion till 1.7 trillion mark we will be getting 10%. After the 1.7 trillion mark is reached all our debts are paid off and thats when the 80% of revenues kick in. we still have 80% of 1.7 trillion we get 1.3 trillion in revenues.

 

Then you have the tfg which most likely will get a slice of the pie or an oil excise around the 60-40 mark!!! pland will get 60% from 1.3 trillion we still walk away with 800 billion dollars in revenue after all tfg-resource companies are paid off. Knowing farole he will probably bargain even harder with the TFG to make sure puntland gets the majority since it is in our land!!! It will really depend on who the president of Puntland is when the negiotations with the TFG begins.

 

Please note the good thing is, thats just bari-nugaal oil getting a clear $ 800 billion or more. We haven't touched our offshore which is double the exploration size of the onshore, plus the iron ore, gas, coal, minerals such as silver, zinc, and the mudug oil remember abdullahi yusuf and the chinese company negiotating that. Dude were set up for life

[Dr_Osman]

Somali how we are paying off the debt? dude dont you read? we only getting 10% of the revenue the majority of the oil profits at the initial stage goes to the resource company so we can pay off our debt. After our debt is over its 80-20 mark. How quick the debt will be paid depends on production I am assuming thousands of barrels of oil will be produced daily 90% going to the resources company, 10% to puntland.

 

even we produce 1000 barrells a day which is very minimal thats still 100k but I assume it will be producing alot more then that 170,000 barrels a day and they only 9 billion puntland is double that on our onshore oil let alone our offshore. 170,000 x 100 barrels is 17 million a day. Plus u will need to go read the range resources on how much oil we will produce but its very high our debt will be paid off very quick!!!

[Som@li]

250 million so from 2 trillion till 1.7 trillion mark we will be getting 10%. After the 1.7 trillion mark is reached all our

2 Trillion -250 million ???

 

Anyway, the debt is without interest? and if there is interest? how much?

[Peace Action]

Xaaji Xunjuf;768121 wrote:

There are no images because it didn't happen it's just crazy propaganda aka fake news

When the oil is flowing I am sure you will explode with envy. Just for that reason I am hoping oil would be found in quantities that are commercially viable.

[Dr_Osman]

Som@li;768304 wrote:

2 Trillion -250 million ???

 

Anyway, the debt is without interest? and if there is interest? how much?

The companies are getting the money through shareholders, they have farmed out with a number of companies. They already have the capital needed hence why why we are moving into the drilling phase!!!

 

As for interest against Puntland no. The production agreements clearly state that we get 4-12% royalty untill the debt is paid off after which it is 50-50 deal that was the Production Agreement signed under cade and farole sign another one saying we were being ripped off so the figures are higher then that and im assuming it will be 10% royalty rate untill the debt is paid off after which it will be a 80-20 arangement in puntland favor but thats just me guessing as we don't know what the production agreements are farole signed and which parliament passed also!!!

 

So as far as I know there is no interest, were paying our debts off by taking smaller slice or a royalty fee and giving the majority to the resource companies to pay off those debts!!! Thats the arrangement and they still walk away with 20% stake in the profits of the oil after that debt is paid off so I guess you could call that their interest which will make them billionaires!!!

[Xaaji Xunjuf]

Peace Action;768320 wrote:

When the oil is flowing I am sure you will explode with envy. Just for that reason I am hoping oil would be found in quantities that are commercially viable.

No envy at all my friend i just like to see pictures and as you said we shall wait and see how this deal ends