Britain Leads Dash for Somalia's Oil

[Derek]

<span style="font-weight: bold">Britain is involved in a secret high-stakes dash for oil in Somalia, with the government offering humanitarian aid and security assistance in the hope of a stake in the beleaguered country's future energy industry.</span>


<span style="font-size: 8pt">Engineers and visitors tour an exploratory well in Somalia's semi-autonomous Puntland region. Photograph: Reuters</span>

David Cameron last week hosted an international conference on Somalia, pledging more aid, financial help and measures to tackle terrorism. The summit followed a surprise visit by the foreign secretary, William Hague, to Mogadishu, the Somali capital, where he talked about &quot;the beginnings of an opportunity'' to rebuild the country.

http://www.guardian.co.uk/world/2012/feb/25/britain-oil-dash-somalia

[Magician]

Re: Britain Leads Dash for Somalia's Oil

So first they fund the warlords to destabilise the country and now they're offering security from same said warlords in exchange for oil. Brilliant!

[Wahalla]

Re: Britain Leads Dash for Somalia's Oil

Guess all that 70s history never happened.. And Africans have no responsibility or role for their own narrative... it is all the evil white super men...The Somalis never switched sides in the cold war and the reputed Cubans on the Somali side never fought with the Cubans on the Ethopian side.. Hell they proved they are warriors and real men time and time again!

A friend of mine was a geologist that worked on this project... three year ago I first heard of this project.... never invested..Somalia and me dont mix... our histories are counterflowed..

Here is the press release from Range..

RANGE RESOURCES LTD 11.125p A$0.19
Puntland drilling commences 17 January 2012
Range has announced that the Shabeel-1 exploration well on the Dharoor Block (Range: 20%) in Puntland,
Somalia has spudded. The well is expected to drill to a target depth of 3,800 metres and take c.90 days to
complete. The well is targeting a large prospect estimated to contain over 300 mmbbls of oil. Drilling
operations have also commenced on a second exploration well, Shabeel North-1, which will probe a similar
sized prospect following the completion of Shabeel-1.
• Range Resources, together with its joint venture partners in Puntland, Horn Petroleum (TSX: HRN) and Red
Emperor (ASX, AIM: RMP), has announced that drilling activity on the Shabeel-1 exploration well on the
Dharoor Block has commenced. Horn Petroleum, the well operator, plans to drill to a maximum depth of 3,800
metres using the Sakson 501 drilling rig. The well is expected to take approximately 90 days to complete.
• Horn has also commenced drilling operations on the Shabeel North-1 exploration well, again on the Dharoor
Block, with the setting of 30 inch surface casing and the drilling of a 50 metre pilot hole. This well is also
anticipated to take 90 days for drilling and evaluation and will spud following the completion of Shabeel-1.
• The completion of both exploration wells on Dharoor will satisfy the first exploration period minimum work
obligations of the Production Sharing Contract for both the Dharoor and Nugaal Blocks. This is a landmark
occasion for Puntland as Shabeel-1 represents the first exploration well in the country for over 20 years.
• Both the Shabeel prospects are located on a Jurassic aged rift system which is part of the same system that
has proven to be highly productive in the Masila and Shabwa Basins in Yemen, which we estimate to contain
over 6 billion barrels of oil. Source rocks are expected to be rich Jurassic Kimmeridgian shales in the deep
portion of the rift down dip from the Shabeel prospects and reservoirs are anticipated to be sandstones and
carbonates of the Lower Cretaceous and Jurassic systems analogous to Yemen.
• Both targets are very large fault block prospects each with pre-drill internal estimates of over 300 mmbbls of
prospective oil resources. Range’s interest in each represents over 60 million barrels net to the company.
As the first exploration well to be spudded in Somalia for over 20 years, Shabeel-1 represents a momentous
occasion for Range. We have attributed a valuation of 12p per fully diluted share for Range’s interest in
Puntland within our current share price target which reflects the high risk/high reward nature of the play.
However, we are confident that drilling success will provide substantial upside to our current valuation.

[Dr.Dudd]

Re: Britain Leads Dash for Somalia's Oil

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Derek</div><div class="ubbcode-body"><span style="font-weight: bold">Britain is involved in a secret high-stakes dash for oil in Somalia, with the government offering humanitarian aid and security assistance in the hope of a stake in the beleaguered country's future energy industry.</span>


<span style="font-size: 8pt">Engineers and visitors tour an exploratory well in Somalia's semi-autonomous Puntland region. Photograph: Reuters</span>

David Cameron last week hosted an international conference on Somalia, pledging more aid, financial help and measures to tackle terrorism. The summit followed a surprise visit by the foreign secretary, William Hague, to Mogadishu, the Somali capital, where he talked about &quot;the beginnings of an opportunity'' to rebuild the country.

http://www.guardian.co.uk/world/2012/feb/25/britain-oil-dash-somalia

</div></div>It is all according to Alexander Maslows laws of human development. Keep them insecure and hungry and you can rob them and they love you for it.

[mangoskin]

Re: Britain Leads Dash for Somalia's Oil

I hope something good happens-cos this $5.58 gas is killing me!!!

[RichD]

Re: Britain Leads Dash for Somalia's Oil

everybody is focused on drilling and extraction. why is the not more focus on building refineries. my understanding is a big part of the current price increase is due to refinery problems creating a shortage of gasoline.

[kia027]

Re: Britain Leads Dash for Somalia's Oil

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mangoskin</div><div class="ubbcode-body">I hope something good happens-cos this $5.58 gas is killing me!!! </div></div>

something is happening

[RichD]

Re: Britain Leads Dash for Somalia's Oil

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kia</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mangoskin</div><div class="ubbcode-body">I hope something good happens-cos this $5.58 gas is killing me!!! </div></div>

something is happening </div></div>

but

GM ildes Volt Line

[Derek]

Re: Britain Leads Dash for Somalia's Oil

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kia</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mangoskin</div><div class="ubbcode-body">I hope something good happens-cos this $5.58 gas is killing me!!! </div></div>

something is happening </div></div>


'Green' car technology has been around for decades but the oil cartels have been powerful enough to block mass production.

[kia027]

Re: Britain Leads Dash for Somalia's Oil

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kia</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mangoskin</div><div class="ubbcode-body">I hope something good happens-cos this $5.58 gas is killing me!!! </div></div>

something is happening </div></div>

but

GM ildes Volt Line </div></div>


Volt sales have not reached the levels GM predicted before the car went on sale in December 2010. The company expected to sell 10,000 Volts in 2011, but sold a total of 7,671.

Higher gas prices + solar panel roofs = solar powered electric cars

and let us not forget out zero carbon footprint vehicles... we two foot &amp; a bicycle

[mangoskin]

Re: Britain Leads Dash for Somalia's Oil

here, Bahamas Waste, a garbage collection company powers it's trucks with used cooking oil from restaurants, hotels and cruise ships. All their trucks now use it..

[kia027]

Re: Britain Leads Dash for Somalia's Oil

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mangoskin</div><div class="ubbcode-body">here, Bahamas Waste, a garbage collection company powers it's trucks with used cooking oil from restaurants, hotels and cruise ships. All their trucks now use it.. </div></div>