Africa oil announces spud of shabeel north well

[Somalia]

How can one spin facts, disprove what I just wrote.

[MoonLight1]

Somalia;838677 wrote:

How can one spin facts, disprove what I just wrote.

“What we’ve seen is Trinidad doesn’t get valued because all the punters trade Range on Puntland. So let’s take Puntland out, give (Range investors) the free stock, and have a separate AIM-listed stock,” he said.

If they know there was commercializeble oil they wouldn't release this statement. lets put emotions aside, it seems they explored and found no commercializeble oil in Shabeel1. The purpose of Puntland exploration was nothing other than two things, 1) to sell the license to the highest bidder since AO don't have the "resource" to extract and export oil. 2) To over value its shares in the stock market, imagine the digits and the value added to its shares after those BBC and Aljazeera coverages in early January.

[faarah22]

it takes 7 years from exploration till oil is finally gotten out. so why are you huffing and puffing? typical somali skinny with ADHD.

[MoonLight1]

^

am I talking to a typical infidel with STD.

[General Duke]

The second Oil well has Sartre to be drilled. This is great news, remember this project was to drill four wells, two in Dharoor & two in Nugaal.

One welcomes this, thanks to Burn Notice for the update..

[Abwaan]

Ceelkaan Shabeel amuu Mashruucii Faanoole nagu noqdaa? Asbuuc walba waxaan maqalnaa Saliiddii waa so dhawaatay...War ciidan baan soo diraynaa yaysan bahashu daadane noo sheega markay si fiican u soo dhowaato...lol

[ugaas Ali]

excellent news. oil will help somalia become a major economic hub in the region.

[Somalia]

MoonLight1;838681 wrote:

If they know there was commercializeble oil they wouldn't release this statement. lets put emotions aside, it seems they explored and found no commercializeble oil in Shabeel1. The purpose of Puntland exploration was nothing other than two things, 1) to sell the license to the highest bidder since AO don't have the "resource" to extract and export oil. 2) To over value its shares in the stock market, imagine the digits and the value added to its shares after those BBC and Aljazeera coverages in early January.

These are wildcat drills. Based on minimal data, from the 1980s and the ones done in a few years. In Saudi Arabia the largest oil producer it took 4 years and 7 drills. This one will have 4 drills as General Duke has pointed out.

 

You are highly illogical if you believe there will be no oil just because they are testing the first ground. The fact that the first drill showed signs of oil is enough to say that this project will keep going.

 

We don't even know whether or not it is commercially viable.

[GaraadMon]

No one can say whether it is commercially viable or not, although it is likely to be commercial. You can blame everyone on here for hyping it up as some sort of elephant field. These two wells will like produce 100-300 million barrels each, but if you look at where they are drilling, you will notice that this second well is closer to the centre of the basin. They are going to prove up the basin and if successful, there will be several dozen wells dug in the region. The offshore oil is where the big players will really be interested in though, with the large finds of natural gas off Mozambique and Tanzania, it is already looking rather promising.

[Fiqikhayre]

This is great news and significant as the Shabeel-1 spud/drill earlier. Inshaallaah Shabeel North will have even more reservoirs of OIL then its same named predecessor Shabeel-1.

[Burn Notice]

General Duke;838739 wrote:

The second Oil well has Sartre to be drilled. This is great news, remember this project was to drill four wells, two in Dharoor & two in Nugaal.

One welcomes this, thanks to Burn Notice for the update..

Well said GD

 

I believe the testing of Shab 1 has been delayed due to security issues and the inability of bringing in the necessary testing equipment...the results from the two wells will be historic

 

like you say this is not about the first 1-2 wells.....an active petroleum system is present so western countriers will be flocking to the region

 

PL will have its day very soon

[Garnaqsi]

Burn Notice -- I'm more excited about the fact that your namesake returns next week!

[Burn Notice]

From HOA & Langboy on worldstocks

 

"Dahoor has around 10 potential prospects, if the jessoma is on trend throughout I suppose you could be looking at recoverable reserves of upto 1 billion."

 

"Normally for a well to flow commercially you would need a porosity of at least 8%, if they are saying 18 to 20% this imo is significant and new and if we hit the volume of reservoir on this drill could be highly commercial"

 

but like Moonlight says its not commercial

[Burn Notice]

LOL...I'm nearly as excited about the European cup starting this week