Australia-based Jacka Resources plans to start oil exploration in Somaliland (video)

[Siciid1986]

http://www.youtube.com/watch?v=xEyZCrtQzb8&t=10m57s

 

Somaliland Blocks 6, 7(partial) and 10(partial) – known as Odwayne Block

 

 22,000 sqkms, enclosing a Jurassic rift basin (size of the Albertine Graben)

 9 sampled oil seeps on-block, typed to light oil-condensate

 Jacka to be Operator, with initial 50% equity

 No previous tenure (pre-1989 Force Majeure)

 Existing Petrosoma Resources team in-country; instant Operational capability

 Very similar geology to prolific producing basins in Yemen, with 9.8 BBOE discovered or to be discovered

(USGS 2002)

Odwayne Block Overview

17 Per

 

Block & Regional setting

 

 Nine oil seeps sampled during 2006 field mapping -

identified through discussion with locals

 Samples analysed by Fugro-Robertson labs in UK

 Analysis indicates original light oil or possibly

condensate

 Same source rock responsible for 9.8 BBOE discovered

or to be discovered in Yemen (USGS, 2002).

 Up to 40 km migration distance from Odwayne

depocentre suggests:

 potentially prolific source kitchen

 regional migration surface / top seal (halite?)

Three NW-SE Jurassic-Cretaceous rift basins, later broken by Tertiary rift :

 1. Siham-Ad-Dali (Yemen) = Odwayne (Somaliland)

 2. Saba’atayn (Yemen) = Nugaal (Somaliland/Puntland)

 3. Say’un Masila (Yemen) = Dharoor (Puntland)

Siham-Ad-Dali - Odwayne basin

 very similar, genetically related sediment fill to Sab’atayn and Say’un-Masila

 Late Jurassic source rocks proven in Siham-Ad-Dali, expected in Odwayne

given numerous surface seeps

 unexplored on both sides of Gulf of Aden for reasons other than geology

Petroleum System elements and timing are in place: with exploration, large oil and

gas accumulations highly likely in Horn

[N.O.R.F]

What agreement do they have with the government?

[LANDER]

Not a good time for oil exploration, I feel we still have to strenghten our instititutions before we can have any hope managing any potential oil revenues responsibly.

[GaraadMon]

LANDER;852680 wrote:

Not a good time for oil exploration, I feel we still have to strenghten our instititutions before we can have any hope managing any potential oil revenues responsibly.

You're right, I think it'll be a few years before we even find considerable amounts of oil. There are plenty of other natural resources in Somalia that no one focuses on, mainly the young population. We could create a great manufacturing base with the right social and economic investments.

[Carafaat]

now is not the good time for exploration. these little ranger companies make abuse of the fragile state and of weak goverments. so they can sell the contract at a much higher price to the big oil companies. just be patient, work on a better governance and the big boys will come.