Congratulations, You Won

[uchi]

Trust me, I read the previous contract Range signed with Cade, it was beyond his teams comprehension, they were ripped off, but it's a lot different now, a number of conditions were put in place & other parties were invited. Range only stuck around because they didn't want to hand out the data they gathered during Cade's time.

[Burn Notice]

uchi;783447 wrote:

Trust me, I read the previous contract Range signed with Cade, it was beyond his teams comprehension, they were ripped off, but it's a lot different now, a number of conditions were put in place & other parties were invited. Range only stuck around because they didn't want to hand out the data they gathered during Cade's time.

perhaps MMA could have lent them a satellite to pin point the oil LOL

[NGONGE]

Nothing shady about Range Resources (RR). It's a known and respectable company and its shares are sold and bought in the open market. This is not eedo Xaawo going to sell diricyo to PL, people. This is proper stuff and RR are taking a considerable risk for a proven resource. Bilan meeshan ma maqaaxi bay mooday?

[NGONGE]

^^ Background check, guru? Did I ever tell you about my line of work?

[Peace Action]

NGONGE;783484 wrote:

^^ Background check, guru? Did I ever tell you about my line of work?

Ouch. Your guru many times here in these boards confuses facts with opinion.

[Chimera]

Valid points by Bilan.

 

Burn Notice;783466 wrote:

perhaps MMA could have lent them a satellite to pin point the oil LOL

Excuse me, but that kind of technology exists, and is used for exploration purposes in various countries around the world. In-fact it has multiple benefits, just recently an entire Ancient Egyptian city with seventeen Pyramids was uncovered beneath the soil of a desert through sat-technology.

 

http://www.satimagingcorp.com/svc/exploration.html

[NGONGE]

Guru, without giving too much away, let me tell you that I get my info from seasoned Investment Analysts and they have told me (on more than one occassion) that RR is as kosher as can be (I mean you knew that this was one question I would ask over and over again, didn't you?).

[Chimera]

Burn Notice;783438 wrote:

there is no point sitting on large reserves of natural resources potentially worth billions while thousands die of drought and famine...do you want puntland/somalia to help itself or leave YOUR people to live in misery & desperation?

 

Where is the evidence that when the billions actually arrive in terms of revenue that the ordinary Puntland civilians, let alone the entire Federal Republic, will see a single shilling or dollar? What happened to the 600 thousand Range Resources fund for the Garowe Airport? Why is Kuwait footing the bill instead, after that money went missing? Majority of the current multi-million dollar development projects center around Garowe and Bosaso while the Indian Ocean regions gets a measly 1 million dollars; that would not even support a small street in London, let alone hundreds of thousands of people, and their pursuit of happiness.

 

Yet here you are trying to emotionally blackmail us with the fantasy that Faroole will be the saviour of Somalia, and the Somali people, when he displays all the characteristics of the clowns that lead oil-blessed countries like Equatorial Guinea. whose people are in utter poverty despite the illusion of a high GDP per capita, and where the first family is busy buying real-estate in France.

 

What Bilan and I, and every single self-respecting Somali not living in cloud 9 - wants is transparency and accountability. Plenty of oil-producing countries still have millions of people living in poverty or dying of famine, from Nigeria to South Sudan, so relatively speaking it matters not whether these resources stay beneath Somali soil or are pumped out because in Somalia's case famine and poverty are a consequence of war, not a lack of resources as Somalia is capable of feeding its population several times over if only its breadbasket wasn't plagued by conflict. Having seen the prima-donna nature of Faroole, be it with the Mogadishu government or with Puntland ministers, he's no Sultan Al Nahayn, nor does his policies with regards to equal development, the progress of democracy or free media reassure any observer of the situation.

[Naxar Nugaaleed]

We don't know everything but this much is true, lady knows not what she speaks of. What source Of information is available to her that is not available to the companies that she says do this for a living. It's very simple to know the availability of oil and major companies will hoodwinked into buying something that does not exist are to statements that make no sense.

[Chimera]

People are being intentionally ignorant or are ignoring these valid points on purpose because they were already picturing highrise buildings and getting fat on oil-money, and so any individual that crashes these dreams must be dubbed "a hater" but this is another form of "running away during a debate" let me re-iterate her points:

 

When it comes to production, who determines the cost and under what economy, the Australian or the Puntland region? When that has been determined, who will oversee the minimum cost? Usually, these companies make huge profits by taking advantage of poor countries, and in this case a region where one man controls, the President of Puntland and Australian citizen, Abdurahman Farole.

This is a valid question. The deal is an utter cloak of darkness, only minuscule details have been revealed, nothing else.

 

My Last but certainly not least question is how and who will oversee the environmental impact of this oil? Certainly the local government has not established a organized environmental protection agency. The threat of a catastrophic oil spill can be very dangerous to human, animal, and plant life. We all witnessed the oil spill in 2010 in the Gulf of Mexico, eleven crew members died during the explosion and it took more than 80 days to contain the spill. It cost British Petroleum Billions of dollars in clean-up cost and fines mandated by the government. Their effort to contain the oil leaks were due to the demand and outrage of the US government and it’s citizens. I don’t know who will have Puntland’s back if there is such a disaster

An even more important point, Somalia cannot suffer more environmental destruction on top of what its currently going through. The small companies currently leading the oil-exploration and potentially production do not have the economic capital to pull off a BP-Gulf of Mexico, no an oil-spill in Somalia would see them pack their bags and leaves us swimming in oil, and dying from it.

 

Furthermore extracting commerciable oil in a foreign country requires:

 

1. A recognized government, which can negotiate on behalf of it's people and environment.

2. A recognized elected Parliament, which represents the people of the land that can rectify the deals and contracts between the government and oil companies.

3. Huge Investment, which requires a peaceful country with a recognized government that can sign deals on behalf of it's people

4. Banks which are recognized by IMF and International Banks, to be able to conduct financial transactions and L/C (letter of credit)

5. Infrastructure and strong educated labor force.

Puntland and Somalia as a whole are lacking all these requirements, therefore no genuine company will consider spending a dollar to explore oil in Somalia. If anything, it all sounds like we have a scam on our hands folks and we cannot afford to fall for it.

These five points are what "make or break" an oil-blessed country into becoming a "Norway" or a "Equatorial Guinea". Don't bring Kurdistan or South Sudan for their infrastructure, expertise and international connections originate with well established central governments, they are just continuing this legacy, which Puntland does not have.

[NGONGE]

^^ Yours is a better argument than Bilan's, Chimera. Bilan does come across as slightly uninformed and hurried (might be her opposition to the suspected exploitation).

 

At any rate, RR is not an 'unknown' company as she claims. They've worked in many parts of the world and governments (including in the US). They're also well known in the oil and energy sectors.

[Peace Action]

Oodweyne;783490 wrote:

^^

Peace Action

,...

 

Hey, pirates, perhaps, it's your wont (or any rate the your political profession) to think, that others can easily be fobbed off with all manner of talk about what a wonderful place that fiefdom of yours is.

Just bitter with no facts and biased opinion. You don't get it. Give it up and listen to your fellow NG for once.

[ElPunto]

Chimera;783510 wrote:

 

This is a valid question. The deal is an utter cloak of darkness, only minuscule details have been revealed, nothing else.

Is the deal an utter cloak of darkness? What specifically would you like to see that you haven't seen? What is missing from this agreement that is standard practice in well run developed countries? Fill in the blanks.

 

Let's assume for your sake that this deal is an utter cloak of darkness. Is it important at this juncture - when we have no idea whether there is oil there if RR gets 95% and PL gets 5% or vice versa? No - any deal terms are purely hypothetical at this point since we don't know what we're dealing with.

 

An even more important point, Somalia cannot suffer more environmental destruction on top of what its currently going through. The small companies currently leading the oil-exploration and potentially production do not have the economic capital to pull off a BP-Gulf of Mexico, no an oil-spill in Somalia would see them pack their bags and leaves us swimming in oil, and dying from it.

This is more than a little ridiculous. How can you suffer environmental destruction when you are not even producing oil and when you've no idea if you even have oil. How can the government make an environmental protection agency or contigency plan if they don't know what they're even dealing with? How can you be bringing this up when we haven't even reached the starting line?

 

Before raising this point - which is so premature - did you find out whether Range Resources has a good environmental record in other places it operates? Or what sort plans and procedures it generally has with regard to environmental protection? If you haven't examined those aspects - to raise this point at this stage is completely without merit.

 

One more point - you and her keep bringing up the BP disaster. This is has nothing to do with how the oil, if we have any, would be extracted. In PL - it is on land - and with BP in the Gulf of Mexico - it was from the bottom of the seabed. These 2 different locales have entirely disparate environmental risk. It's not an appropriate comparison even if Somalia was extracting oil.

 

These five points are what "make or break" an oil-blessed country into becoming a "Norway" or a "Equatorial Guinea". Don't bring Kurdistan or South Sudan for their infrastructure, expertise and international connections originate with well established central governments, they are just continuing this legacy, which Puntland does not have.

These five points are moot. Make or break an oil-blessed country?? Damn - you don't even know if you are an oil blessed country or in what quantities. People raising objections at this point are simply illogical. Their thinking is - we have no idea what we have but we shouldn't even look to see if we have anything because we're afraid of x, y and z. What is more appropriate is to find out what it is we have and then demand transparency and accountability. Even if we don't get the latter fully - to extract and sell oil is better than the current situation.

[Qandalawi]

So now the environmentalists are speaking miyaa kkk

 

What more excuses do you have to oppose this venture? Environmental damage, no central government, you are getting ripped off, shady company i.e. Range R. What else, C'mon I expected more!

[Somalia]

LOL@Concern for the "environment".

 

Next you'll be telling us the wind is too strong for an oil rig.