Somaliland: Oil Exploration in Odweine

[Xaaji Xunjuf]

Somaliland: Oil Exploration in Odweine

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Friday, 29 March 2013 17:46

Odweine blocks where oil is confirmedSomalilandsun- In August 2012, Genel was awarded an exploration licence for onshore blocks SL-10-B and SL-13 in Somaliland, with a 75% working interest in both.

Genel extended its presence in November 2012 with the acquisition of 50% participating interest in the Odewayne Production Sharing Agreement which covers blocks SL-6, SL-7, SL-10A.

Onshore Somaliland is a relatively unexplored region, with few exploration wells drilled. The total size of the blocks is approximately equivalent to the entire Kurdistan Region of Iraq.

Genel took the opportunity because of encouraging indications including onshore oil seeps and existing geological data showing favorable conditions for hydrocarbons to have accumulated in numerous large tilted fault blocks and sub-basins. In addition, the basins of Somaliland were contiguous to Yemen prior to the opening of the Gulf of Aden in the Oligocene-Miocene - similar sedimentary sequences and structural styles are expected in Somaliland.

We are targeting resources of over 1,000 mmbbls in blocks SL-10B and SL-13. The Odewayne block has a similar resource potential to this, targeting in order of 1,000 mmbbls. A substantial 2D seismic campaign is to commence for all the blocks in the second quarter of 2013, with the first exploration well targeted for the second half of 2014.

Genel operations in Somaliland

Two PSAs covering five blocks: SL-6, SL-7, SL-10A, SL-10B, SL-13

Genel 75% interest and operator in blocks SL-10B, SL-13 (East Africa Resource Group 25%)

Genel 50% interest and operator in blocks SL-6, SL-7 and SL-10A (Jacka Resources 30%, Petrosoma 20%)

Total gross acreage 40,300 square km

Genel Energy

[Dr_Osman]

The big explorers in somaliland lol...Ill let you decide SOL

 

 

Not one seismic, not one equipment brought in place, not one drilling, and the explorer company is some backpacker touring africa who was given 100 dollars to pose for pics in oodwayn..Lets be real guys this oil in somaliland is just a front to piss off puntland and thats all it is

[Xaaji Xunjuf]

Ditoore ha deg degin , the exploration didn't even begin this year the exploration will end and next year drilling will begin genel invested close to a 100 Million USD. They did the same in iraqi kurdistan, there is oil in Somaliland, its geology symmetric to that of Arabia.

[Xaaji Xunjuf]

Somaliland: Jacka Resources Confirms Promising Structures in Odweine Petroleum Block

 

Saturday, 30 March 2013 16:28

Odweine Blocks contains over 1 billion barrelsSomalilandsun - Jacka Resources (ASX: JKA) has confirmed the presence of large rift-basin structures, which typically form structural petroleum prospects, within the Odewayne block in Somaliland.

These structures were interpreted from the preliminary gravity map from the 22,000 square kilometre airborne geophysics survey that was completed in February by operator Genel Energy (LON: GENL).

Two additional basins have also been identified within the licence area.

The presence of numerous verified oil/condensate seeps, potentially attractive structures, and the genetic relationship to the multi-billion barrel basins of Yemen results in a highly prospective play in this emerging petroleum province.

Genel, a £2 billion market cap, is funding 100% of the exploration program in the Odewayne block until May 2015.

Besides the airborne survey, which covered the entire block, Genel is also funding at least 1,500 kilometres of 2D seismic and an exploration well.

Mobilisation for the seismic survey is scheduled for April this year, with acquisition expected to commence in May and to be completed by end October 2013.

Genel recently indicated that the block has the potential to contain in excess of 1 billion barrels of prospective resources, on which they place a 15% probability of success at this early stage of exploration.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

[Dr_Osman]

Xaaji Xunjuf;932053 wrote:

Somaliland: Jacka Resources Confirms Promising Structures in Odweine Petroleum Block

 

Saturday, 30 March 2013 16:28

Odweine Blocks contains over 1 billion barrelsSomalilandsun - Jacka Resources (ASX: JKA) has confirmed the presence of large rift-basin structures, which typically form structural petroleum prospects, within the Odewayne block in Somaliland.

These structures were interpreted from the preliminary gravity map from the 22,000 square kilometre airborne geophysics survey that was completed in February by operator Genel Energy (LON: GENL).

Two additional basins have also been identified within the licence area.

The presence of numerous verified oil/condensate seeps, potentially attractive structures, and the genetic relationship to the multi-billion barrel basins of Yemen results in a highly prospective play in this emerging petroleum province.

Genel, a £2 billion market cap, is funding 100% of the exploration program in the Odewayne block until May 2015.

Besides the airborne survey, which covered the entire block, Genel is also funding at least 1,500 kilometres of 2D seismic and an exploration well.

Mobilisation for the seismic survey is scheduled for April this year, with acquisition expected to commence in May and to be completed by end October 2013.

Genel recently indicated that the block has the potential to contain in excess of 1 billion barrels of prospective resources, on which they place a

15% probability of success

at this early stage of exploration.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Xaji I will only believe it when I see it. Tell genel to put theyre money where the mouth is and begin the work or else stop trying to be puntland

[Homunculus]

The whole region is very promising in terms of oil reserves. I hope they find billions of barrels and the great investment rush begins. I actually prefer the Turkish company to the Australian/Canadian one in Puntland, despite their newness they seem to do a lot.

[Xaaji Xunjuf]

The consortium led by genel will be starting next month, and the first well will be sunk early next year 2014. it looks good so far and if oil is found next year it will be a boost for Somalilands economy.