tag:blogger.com,1999:blog-85718399159843743202024-02-20T10:22:17.407-08:00gabileyonlinegabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-8571839915984374320.post-48661921013157039612013-11-13T04:33:00.003-08:002013-11-13T04:37:38.957-08:00<h1 itemprop="headline">
Former BP Chief's New Quest: Wildcatting on the Edge of Danger</h1>
<h2 class="subHed deck">
Tony Hayward, After Deepwater Horizon Debacle, Seeks Oil in Somalia</h2>
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Nov. 11, 2013 11:01 p.m. ET</div>
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A man looked for firewood in Somaliland. <span class="i-credit">Agence France-Presse/Getty Images</span> </div>
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When London's <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/UK/GENL">Genel Energy</a> <span class="article-chiclet down" data-channel-currency="GBp" data-channel-last-price="956" data-channel-path="" data-country-code="UK" data-ticker-code="GENL" data-utc-offset-hours="0"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/UK/GENL">GENL.LN -0.68%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/UK/GENL">Genel Energy PLC</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.K.: London</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>GBp</sup>949.50 </span> <span class="t-direction down"><!-- up, down ,neutral --> -6.50 -0.68% </span> </span> <span class="t-dates"> Nov. 13, 2013 12:04 pm Volume : 82,094 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 0.26 </span> <span class="inline-list">Market Cap GBp2.25 Billion </span> <span class="inline-list"> Dividend Yield N/A </span> <span class="inline-list">Rev. per Employee GBp2,292,700 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="UK:GENL" data-type="chart" id="ukxlongenl"><canvas height="92" width="234"></canvas><span class="x-num">960955950945</span><span class="y-num"><span class="xValueLbl" style="left: 31px; position: absolute; width: 4px;">9a</span><span class="xValueLbl" style="left: 59px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 86px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 114px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 141px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 169px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 196px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 224px; position: absolute; width: 4px;">4p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">09/09/13 <a href="http://online.wsj.com/news/articles/SB10001424127887324549004579064680710758254">Genel Pulls Out Somaliland Sta...</a></span> <a href="http://quotes.wsj.com/UK/GENL?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/UK/GENL">GENL.LN</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> PLC decided last year to search for oil in Somalia, it didn't negotiate with the country's internationally recognized government in Mogadishu.</div>
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Instead, Genel Chief Executive <a href="http://topics.wsj.com/person/H/Tony-Hayward/686">Tony Hayward</a> flew to a city about 500 miles north: Hargeisa, the dusty capital of breakaway Somaliland. He visited the separatist president at home and told the resources minister that Genel could spend about $100 million prospecting there.</div>
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"We will find oil," said Mr. Hayward at the July 2012 meeting, according to him and the resources minister, Hussein Abdi Dualeh. Somaliland gave Genel permission to prospect.</div>
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Mr. Hayward, <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/UK/BP.">BP</a> <span class="article-chiclet down" data-channel-currency="GBp" data-channel-last-price="483.9" data-channel-path="" data-country-code="UK" data-ticker-code="BP." data-utc-offset-hours="0"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/UK/BP.">BP.LN -0.27%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/UK/BP.">BP PLC</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.K.: London</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>GBp</sup>482.60 </span> <span class="t-direction down"><!-- up, down ,neutral --> -1.30 -0.27% </span> </span> <span class="t-dates"> Nov. 13, 2013 12:06 pm Volume : 8.90M </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 5.95 </span> <span class="inline-list">Market Cap GBp90.30 Billion </span> <span class="inline-list"> Dividend Yield 4.91% </span> <span class="inline-list">Rev. per Employee GBp2,864,460 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="UK:BP." data-type="chart" id="ukxlonbp."></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">11/11/13 <a href="http://online.wsj.com/news/articles/SB10001424052702303442004579123560225082786">Offshore Oil Drilling Takes Of...</a></span> <span class="inline-list">11/06/13 <a href="http://online.wsj.com/news/articles/SB10001424052702303309504579182020273051800">BP to Give Up Control of Libya...</a></span> <span class="inline-list">11/01/13 <a href="http://blogs.wsj.com/cio/2013/11/01/bp-names-michael-gibbs-cio/">BP Names Michael Gibbs CIO</a></span> <a href="http://quotes.wsj.com/UK/BP.?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/UK/BP.">BP.LN</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img 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/> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> PLC's chief during its 2010 Deepwater Horizon disaster in the Gulf of Mexico, has joined a breed of wildcatters who deploy a risky and sometimes lucrative strategy: Look for oil in politically or geologically fraught lands after cutting deals with governments that claim the lands, even if those claims are in dispute.</div>
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These oilmen operate on what the 56-year-old Mr. Hayward calls "the political frontier." They sometimes defy the wishes of Washington and the United Nations, which say companies can amplify conflicts and foment instability by entering disputed lands.</div>
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Genel executives Tony Hayward and Mehmet Sepil hope to find oil in Somaliland. <span class="i-credit">Bloomberg News</span> </div>
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In Somaliland, Mr. Hayward is stepping into a decadeslong conflict. The northern-Somalia region declared independence in 1991. But Somalia still claims it, and the U.N. doesn't recognize its independence.</div>
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The breakaway Somaliland's oil agreements are particularly contentious because they sometimes overlap leases that the central Mogadishu government negotiated years ago and that are held by companies such as BP, <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/UK/RDSB">Royal Dutch Shell</a> <span class="article-chiclet down" data-channel-currency="GBp" data-channel-last-price="2165" data-channel-path="" data-country-code="UK" data-ticker-code="RDSB" data-utc-offset-hours="0"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/UK/RDSB">RDSB.LN -1.41%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/UK/RDSB">Royal Dutch Shell PLC B</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.K.: London</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>GBp</sup>2134.50 </span> <span class="t-direction down"><!-- up, down ,neutral --> -30.50 -1.41% </span> </span> <span class="t-dates"> Nov. 13, 2013 12:05 pm Volume : 1.65M </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 9.83 </span> <span class="inline-list">Market Cap GBp133.72 Billion </span> <span class="inline-list"> Dividend Yield 5.37% </span> <span class="inline-list">Rev. per Employee GBp3,388,700 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="UK:RDSB" data-type="chart" id="ukxlonrdsb"><canvas height="92" width="234"></canvas><span class="x-num">2180216021402120</span><span class="y-num"><span class="xValueLbl" style="left: 31px; position: absolute; width: 4px;">9a</span><span class="xValueLbl" style="left: 59px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 86px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 114px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 141px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 169px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 196px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 224px; position: absolute; width: 4px;">4p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">11/08/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304448204579185241227911018">Kashagan Giant Oil Field Won't...</a></span> <span class="inline-list">10/31/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304527504579169662019845046">Refining Hurts Big Oil, But Ex...</a></span> <span class="inline-list">10/31/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304073204579169561525013976">Two Alberta Oil-Sands Projects...</a></span> <a href="http://quotes.wsj.com/UK/RDSB?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/UK/RDSB">RDSB.LN</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> PLC and <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/COP">ConocoPhillips</a>. <span class="article-chiclet down" data-channel-currency="$" data-channel-last-price="73.56" data-channel-path="/quotes/nls/cop" data-country-code="US" data-ticker-code="COP" data-utc-offset-hours="-5"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/COP">COP -1.01%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/COP">ConocoPhillips</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.S.: NYSE</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>$</sup>72.82 </span> <span class="t-direction down"><!-- up, down ,neutral --> -0.74 -1.01% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:00 pm Volume (Delayed 15m) : 3.09M </span> </span> <!--row 2--> <span class="t-sec-2 a-hrs"><span class="t-exch">AFTER HOURS</span> <span class="t-index"><span class="t-curnum neutral"><!-- up, down, neutral --> <sup>$</sup>72.82 </span> <span class="t-direction neutral"><!-- up, down, neutral --> 0.00 0.00% </span> </span> <span class="t-dates"> Nov. 12, 2013 5:11 pm Volume (Delayed 15m): 30,383 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 11.08 </span> <span class="inline-list">Market Cap $90.12 Billion </span> <span class="inline-list"> Dividend Yield 3.79% </span> <span class="inline-list">Rev. per Employee $3,317,750 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="US:COP" data-type="chart" id="usxnyscop"><canvas height="92" width="234"></canvas><span class="x-num">74.0073.5073.0072.50</span><span class="y-num"><span class="xValueLbl" style="left: 17px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 45px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 73px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 101px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 129px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 157px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 185px; position: absolute; width: 4px;">4p</span><span class="xValueLbl" style="left: 212px; position: absolute; width: 4px;">5p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">11/08/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304448204579185241227911018">Kashagan Giant Oil Field Won't...</a></span> <span class="inline-list">11/01/13 <a href="http://blogs.wsj.com/cio/2013/11/01/bp-names-michael-gibbs-cio/">BP Names Michael Gibbs CIO</a></span> <span class="inline-list">10/31/13 <a href="http://blogs.wsj.com/canadarealtime/2013/10/31/what-wsj-canada-is-reading-thursday-30/">What WSJ Canada Is Reading Thu...</a></span> <a href="http://quotes.wsj.com/COP?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/COP">COP</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> </div>
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A U.S. State Department official says that without a resolution between the central and regional governments, oil deals "are going to create conflict." A July U.N. report says making oil deals in fractious Somali regions could "constitute threats to peace and security."</div>
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Somalia believes Genel's deal could "destabilize" the nation, the Mogadishu government told Mr. Hayward in a 2012 email The Wall Street Journal reviewed, alleging that Genel is "in search of more profits by creating more problems in this part of the world."</div>
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Mr. Hayward says he disagrees. Since BP replaced him in 2010 after the Deepwater Horizon explosion and spill, he has staked his future on the notion that finding oil will not only make money but also make people stop fighting.</div>
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"If people have the opportunity to earn money and buy a BMW, rather than run around the hills with a Kalashnikov," he says, "they'll do it."</div>
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Somaliland's Mr. Dualeh says oil will help win recognition and generate income for his stable but extremely poor region.</div>
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Global wildcatters like Mr. Hayward are playing a growing role in the oil industry. Big companies often avoid exploring regions that are unstable or have troublesome geology. Yet, they need new reserves. So they sometimes rely on small firms to find oil in risky places. If political or geological challenges don't disrupt production, bigger companies often follow.</div>
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The blueprint is Genel's success in Iraq's Kurdistan region. A decade ago, big oil companies weren't there, largely because of security concerns. Genel made a deal with Kurdistan's leaders anyway, becoming one of the first Western prospectors to drill there. Rivals eventually followed.</div>
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Others have made similar bets. U.K.-listed <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/UK/TLW">Tullow Oil</a> <span class="article-chiclet down" data-channel-currency="GBp" data-channel-last-price="900" data-channel-path="" data-country-code="UK" data-ticker-code="TLW" data-utc-offset-hours="0"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/UK/TLW">TLW.LN -2.28%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/UK/TLW">Tullow Oil PLC</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.K.: London</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>GBp</sup>879.50 </span> <span class="t-direction down"><!-- up, down ,neutral --> -20.50 -2.28% </span> </span> <span class="t-dates"> Nov. 13, 2013 12:03 pm Volume : 986,642 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 0.34 </span> <span class="inline-list">Market Cap GBp8.33 Billion </span> <span class="inline-list"> Dividend Yield 0.91% </span> <span class="inline-list">Rev. per Employee GBp1,191,490 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="UK:TLW" data-type="chart" id="ukxlontlw"><canvas height="92" width="234"></canvas><span class="x-num">920900880860</span><span class="y-num"><span class="xValueLbl" style="left: 31px; position: absolute; width: 4px;">9a</span><span class="xValueLbl" style="left: 59px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 86px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 114px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 141px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 169px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 196px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 224px; position: absolute; width: 4px;">4p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><a href="http://quotes.wsj.com/UK/TLW?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/UK/TLW">TLW.LN</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> PLC in 2006 agreed to buy a company to which Uganda had granted exploration rights in borderlands that the Democratic Republic of Congo contests. After Tullow's exploration partner began prospecting in 2007, troops from Congo and Uganda clashed there, killing several civilians.</div>
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The area "was at that time less peaceful than it is now," says Tullow spokesman George Cazenove.</div>
<div style="font-size: 15px;">
By drilling "real wildcat" wells in such places, he says, prospectors are "hoping to hit the mother lode and therefore a big company will come in and buy out the whole license." Tullow last year sold some of its Uganda assets for $2.9 billion.</div>
<div style="font-size: 15px;">
A Congolese official says the country now accepts Tullow's agreements with Uganda. Congolese and Ugandan officials say their countries now meet to discuss oil exploration in border regions.</div>
<div style="font-size: 15px;">
U.K.-based Surestream Petroleum Ltd. and South Africa's <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/ZA/SCL">SacOil Holdings</a> Ltd. <span class="article-chiclet neutral" data-channel-currency="ZAc" data-channel-last-price="27" data-channel-path="" data-country-code="ZA" data-ticker-code="SCL" data-utc-offset-hours="2"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/ZA/SCL">SCL.JO 0.00%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/ZA/SCL">SacOil Holdings Ltd.</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">South Africa</span> <span class="t-index"><span class="t-curnum neutral"><!-- up, down ,neutral --> <sup>ZAc</sup>27 </span> <span class="t-direction neutral"><!-- up, down ,neutral --> 0 0.00% </span> </span> <span class="t-dates"> Nov. 13, 2013 1:59 pm Volume : 214,857 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio N/A </span> <span class="inline-list">Market Cap ZAc258.15 Million </span> <span class="inline-list"> Dividend Yield N/A </span> <span class="inline-list">Rev. per Employee N/A </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="ZA:SCL" data-type="chart" id="zaxjsescl"><canvas height="92" width="234"></canvas><span class="x-num">272625</span><span class="y-num"><span class="xValueLbl" style="left: 41px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 79px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 117px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 155px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 193px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 231px; position: absolute; width: 4px;">3p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><a href="http://quotes.wsj.com/ZA/SCL?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/ZA/SCL">SCL.JO</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> said last year they secured rights from Malawi in an area Tanzania claims. Officials for the companies and countries declined to comment or didn't respond to inquiries.</div>
<div style="font-size: 15px;">
U.S.-based <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/MUR">Murphy Oil</a> Corp. <span class="article-chiclet up" data-channel-currency="$" data-channel-last-price="61.87" data-channel-path="/quotes/nls/mur" data-country-code="US" data-ticker-code="MUR" data-utc-offset-hours="-5"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/MUR">MUR +0.05%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/MUR">Murphy Oil Corp.</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.S.: NYSE</span> <span class="t-index"><span class="t-curnum up"><!-- up, down ,neutral --> <sup>$</sup>61.87 </span> <span class="t-direction up"><!-- up, down ,neutral --> +0.03 +0.05% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:04 pm Volume (Delayed 15m) : 2.04M </span> </span> <!--row 2--> <span class="t-sec-2 a-hrs"><span class="t-exch">AFTER HOURS</span> <span class="t-index"><span class="t-curnum neutral"><!-- up, down, neutral --> <sup>$</sup>61.87 </span> <span class="t-direction neutral"><!-- up, down, neutral --> 0.00 0.00% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:25 pm Volume (Delayed 15m): 309,808 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 10.31 </span> <span class="inline-list">Market Cap $11.56 Billion </span> <span class="inline-list"> Dividend Yield 2.02% </span> <span class="inline-list">Rev. per Employee $2,628,260 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="US:MUR" data-type="chart" id="usxnysmur"><canvas height="92" width="234"></canvas><span class="x-num">64636261</span><span class="y-num"><span class="xValueLbl" style="left: 20px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 53px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 86px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 119px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 153px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 186px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 219px; position: absolute; width: 4px;">4p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">10/30/13 <a href="http://blogs.wsj.com/moneybeat/2013/10/30/morning-moneybeat-for-the-love-of-the-markets-root-against-the-red-sox/">Morning MoneyBeat: For the Lov...</a></span> <a href="http://quotes.wsj.com/MUR?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/MUR">MUR</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> and U.K. partner <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/UK/SEY">Sterling Energy</a> <span class="article-chiclet neutral" data-channel-currency="GBp" data-channel-last-price="43.5" data-channel-path="" data-country-code="UK" data-ticker-code="SEY" data-utc-offset-hours="0"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/UK/SEY">SEY.LN 0.00%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/UK/SEY">Sterling Energy PLC</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.K.: London</span> <span class="t-index"><span class="t-curnum neutral"><!-- up, down ,neutral --> <sup>GBp</sup>43.50 </span> <span class="t-direction neutral"><!-- up, down ,neutral --> 0.00 0.00% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:35 pm Volume : 0 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio N/A </span> <span class="inline-list">Market Cap GBp96.00 Million </span> <span class="inline-list"> Dividend Yield N/A </span> <span class="inline-list">Rev. per Employee GBp488,679 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="UK:SEY" data-type="chart" id="ukxlonsey"></span> </span> <!--row 5--> <span class="t-sec-5"><a href="http://quotes.wsj.com/UK/SEY?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/UK/SEY">SEY.LN</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> PLC have announced deals with Cameroon in offshore areas Equatorial Guinea claims. Murphy and officials of the countries declined to comment or didn't respond to inquiries. Sterling entered the area before the dispute flared up, says Sterling CEO Alastair Beardsall. </div>
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Workers drilled for oil at a Genel well in Iraq's Kurdistan region. <span class="i-credit">Justin Scheck/The Wall Street Journal</span> </div>
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Because small companies have less money, "by definition they have to go to the frontier, either the technical frontier or the political frontier," says Mr. Hayward. "There's no point in them following the big guys."</div>
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Mr. Hayward was drawn to Somaliland because it seemed a promising place to repeat Genel's success.</div>
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Genel was founded in 2002 by Mehmet Sepil, a Turkish construction magnate. He says current Iraqi president and longtime Kurdish leader Jalal Talabani phoned that year with a proposal: Develop Kurdistan's neglected oil fields.</div>
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"At the time, the political risk was very, very big," says Mr. Sepil, now Genel's president, from his Ankara office. (The Che Guevara portrait on his wall shows, he says, that he is an "old leftist.") The U.S. was preparing to invade Iraq, and relations between Turkey and the Kurds were "very sensitive."</div>
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Mr. Talabani, who suffered a stroke, couldn't be reached for comment.</div>
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Mr. Sepil and a partner agreed with Kurdistani leaders to spend at least $35 million prospecting, he says. Unable to hire a drilling contractor—none could get insurance—he spent $14 million for a used rig he trucked into the hills, he says. He eventually struck oil.</div>
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The Baghdad government told Mr. Sepil his Kurdistan leases weren't legitimate, he says. In 2004, he met Baghdad officials to negotiate approval, documents reviewed by the Journal show. They never reached a deal.</div>
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Baghdad adheres to its long-standing position, says an Iraqi Oil Ministry spokesman, that contracts signed in Kurdistan aren't valid if the central government hasn't approved them. He says Baghdad is open to negotiating with Kurdistan. A Kurdistani-government spokesman says its deals are legal.</div>
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Genel continued drilling despite the controversy.</div>
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Genel's success finding oil inspired other small companies to follow. Then, midsize companies like U.S.-based <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/HES">Hess</a> Corp. <span class="article-chiclet down" data-channel-currency="$" data-channel-last-price="80.87" data-channel-path="/quotes/nls/hes" data-country-code="US" data-ticker-code="HES" data-utc-offset-hours="-5"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/HES">HES -1.15%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/HES">Hess Corp.</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.S.: NYSE</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>$</sup>79.94 </span> <span class="t-direction down"><!-- up, down ,neutral --> -0.93 -1.15% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:05 pm Volume (Delayed 15m) : 2.23M </span> </span> <!--row 2--> <span class="t-sec-2 a-hrs"><span class="t-exch">AFTER HOURS</span> <span class="t-index"><span class="t-curnum up"><!-- up, down, neutral --> <sup>$</sup>80.04 </span> <span class="t-direction up"><!-- up, down, neutral --> +0.10 +0.12% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:42 pm Volume (Delayed 15m): 4,632 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 7.75 </span> <span class="inline-list">Market Cap $27.30 Billion </span> <span class="inline-list"> Dividend Yield 1.25% </span> <span class="inline-list">Rev. per Employee $1,262,740 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="US:HES" data-type="chart" id="usxnyshes"><canvas height="92" width="234"></canvas><span class="x-num">82818079</span><span class="y-num"><span class="xValueLbl" style="left: 19px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 51px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 83px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 115px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 146px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 178px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 210px; position: absolute; width: 4px;">4p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">09/03/13 <a href="http://online.wsj.com/news/articles/SB10001424127887324324404579045431388717494">Activist Investors Use Executi...</a></span> <a href="http://quotes.wsj.com/HES?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/HES">HES</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> entered. Hess says it continues to work in Kurdistan.</div>
<div style="font-size: 15px;">
<!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/XOM">Exxon Mobil</a> Corp. <span class="article-chiclet down" data-channel-currency="$" data-channel-last-price="92.96" data-channel-path="/quotes/nls/xom" data-country-code="US" data-ticker-code="XOM" data-utc-offset-hours="-5"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/XOM">XOM -0.31%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/XOM">Exxon Mobil Corp.</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.S.: NYSE</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>$</sup>92.67 </span> <span class="t-direction down"><!-- up, down ,neutral --> -0.29 -0.31% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:00 pm Volume (Delayed 15m) : 8.83M </span> </span> <!--row 2--> <span class="t-sec-2 a-hrs"><span class="t-exch">AFTER HOURS</span> <span class="t-index"><span class="t-curnum neutral"><!-- up, down, neutral --> <sup>$</sup>92.67 </span> <span class="t-direction neutral"><!-- up, down, neutral --> 0.00 0.00% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:25 pm Volume (Delayed 15m): 1.89M </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 12.10 </span> <span class="inline-list">Market Cap $406.10 Billion </span> <span class="inline-list"> Dividend Yield 2.72% </span> <span class="inline-list">Rev. per Employee $5,168,010 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="US:XOM" data-type="chart" id="usxnysxom"><canvas height="92" width="234"></canvas><span class="x-num">93.5093.0092.50</span><span class="y-num"><span class="xValueLbl" style="left: 18px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 46px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 75px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 103px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 131px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 160px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 188px; position: absolute; width: 4px;">4p</span><span class="xValueLbl" style="left: 217px; position: absolute; width: 4px;">5p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">11/12/13 <a href="http://blogs.wsj.com/moneybeat/2013/11/12/chevron-brazils-petrobras-start-oil-output-at-papa-terra-field/">Chevron, Brazil's Petrobras St...</a></span> <span class="inline-list">11/11/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304527504579168140813739808">The Hunt for Biofuels Looks Be...</a></span> <span class="inline-list">11/08/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304448204579185241227911018">Kashagan Giant Oil Field Won't...</a></span> <a href="http://quotes.wsj.com/XOM?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/XOM">XOM</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> and <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/CVX">Chevron</a> Corp. <span class="article-chiclet down" data-channel-currency="$" data-channel-last-price="121.08" data-channel-path="/quotes/nls/cvx" data-country-code="US" data-ticker-code="CVX" data-utc-offset-hours="-5"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/CVX">CVX -0.89%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/CVX">Chevron Corp.</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.S.: NYSE</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>$</sup>120.00 </span> <span class="t-direction down"><!-- up, down ,neutral --> -1.08 -0.89% </span> </span> <span class="t-dates"> Nov. 12, 2013 4:00 pm Volume (Delayed 15m) : 6.05M </span> </span> <!--row 2--> <span class="t-sec-2 a-hrs"><span class="t-exch">AFTER HOURS</span> <span class="t-index"><span class="t-curnum neutral"><!-- up, down, neutral --> <sup>$</sup>120.00 </span> <span class="t-direction neutral"><!-- up, down, neutral --> 0.00 0.00% </span> </span> <span class="t-dates"> Nov. 12, 2013 5:05 pm Volume (Delayed 15m): 867,941 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 9.75 </span> <span class="inline-list">Market Cap $232.86 Billion </span> <span class="inline-list"> Dividend Yield 3.33% </span> <span class="inline-list">Rev. per Employee $3,588,150 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="US:CVX" data-type="chart" id="usxnyscvx"><canvas height="92" width="234"></canvas><span class="x-num">122121120119</span><span class="y-num"><span class="xValueLbl" style="left: 15px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 60px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 104px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 149px; position: absolute; width: 4px;">4p</span><span class="xValueLbl" style="left: 194px; position: absolute; width: 4px;">6p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">11/12/13 <a href="http://blogs.wsj.com/moneybeat/2013/11/12/chevron-brazils-petrobras-start-oil-output-at-papa-terra-field/">Chevron, Brazil's Petrobras St...</a></span> <span class="inline-list">11/01/13 <a href="http://online.wsj.com/news/articles/SB10001424052702304073204579171410329578186">Chevron Pumps Up Its Spending</a></span> <span class="inline-list">11/01/13 <a href="http://blogs.wsj.com/corporate-intelligence/2013/11/01/the-race-for-oil-and-chevrons-10-6-billion-quarter/">The Race for Oil, and Chevron'...</a></span> <a href="http://quotes.wsj.com/CVX?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/CVX">CVX</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> , the world's largest oil companies, have reached deals since 2011 to enter Kurdistan. Exxon declined to comment.</div>
<div style="font-size: 15px;">
Early explorers to Kurdistan, says Chevron's Iraq chief, Donnie MacDonald, "de-risked it to a degree." </div>
<div style="font-size: 15px;">
Thanks to growth in Kurdistan, Genel reported 2012 net income of $75.9 million on $333.4 million in revenue, up from a $57.7 million net loss on $24 million in 2011 revenue.</div>
<div style="font-size: 15px;">
Oil is bringing Kurdistan prosperity. Its capital, Erbil, has boomtown trappings: a modern airport and marble-façade condominiums, next to goats grazing dusty lots. New cars follow well-paved roads into the countryside.</div>
<div style="font-size: 15px;">
In 2011, a banker set Mr. Sepil up for dinner in London with Mr. Hayward, who wanted back into oil exploration.</div>
<div style="font-size: 15px;">
Trained as a geologist, Mr. Hayward rose from working offshore rigs to BP's helm in 2007. After leaving BP, he found partners and started an oil-investment firm.</div>
<div style="font-size: 15px;">
He was eager to prospect and delve into politics as big-firm CEOs can't, he says. In oil-rich countries, he says, small firms offer "an opportunity for the guys at the top of a company to have a much deeper personal relationship with the key leaders."</div>
<div style="font-size: 15px;">
At the dinner, Mr. Hayward, who dresses like a London banker, told the long-haired Mr. Sepil he wanted to move into politically or geographically risky Mediterranean and African regions. They agreed they could use Turkish and U.K. diplomatic contacts for access. "I said, 'Let's use our relationships like I used it in Kurdistan,' " Mr. Sepil says.</div>
<div style="font-size: 15px;">
Mr. Hayward's firm acquired Genel in a deal that took it public in 2011. One technically challenging region they began exploring was off Morocco's coast, Mr. Hayward says.</div>
<div style="font-size: 15px;">
Genel also consulted an in-house geologist with knowledge of Yemen's oil deposits. Such deposits, he told Genel, should also be present across the Gulf of Aden in Somaliland.</div>
<div style="font-size: 15px;">
Somaliland fit the profile Mr. Hayward and Mr. Sepil sought: geologically promising, too risky for big companies and with diplomatic ties to their home countries.</div>
<div style="font-size: 15px;">
Like Kurdistan a decade ago, Somaliland is self-governed and more stable than Somalia's south. The capital, Mr. Hayward says, "is very, very poor—as Kurdistan was when it all started in Erbil."</div>
<div style="font-size: 15px;">
Turkey and the U.K. support Mogadishu but also support oil development in Somaliland, say diplomatic and oil-company officials. "We welcome inward investment into Somalia, including Somaliland," the U.K. foreign office says.</div>
<div style="font-size: 15px;">
As in Kurdistan, oil seeps from the ground. Yet big oil companies aren't prospecting. Shell and others had leases in the 1980s to explore in Somalia, including parts of Somaliland, but suspended operations amid growing violence.</div>
<div style="font-size: 15px;">
In the past decade, wildcatters began seeking local Somali leases. London's <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/UK/OPHR">Ophir Energy</a> <span class="article-chiclet down" data-channel-currency="GBp" data-channel-last-price="331.7" data-channel-path="" data-country-code="UK" data-ticker-code="OPHR" data-utc-offset-hours="0"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/UK/OPHR">OPHR.LN -0.39%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/UK/OPHR">Ophir Energy PLC</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">U.K.: London</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>GBp</sup>330.40 </span> <span class="t-direction down"><!-- up, down ,neutral --> -1.30 -0.39% </span> </span> <span class="t-dates"> Nov. 13, 2013 12:04 pm Volume : 580,100 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio N/A </span> <span class="inline-list">Market Cap GBp1.96 Billion </span> <span class="inline-list"> Dividend Yield N/A </span> <span class="inline-list">Rev. per Employee N/A </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="UK:OPHR" data-type="chart" id="ukxlonophr"><canvas height="92" width="234"></canvas><span class="x-num">340335330325</span><span class="y-num"><span class="xValueLbl" style="left: 31px; position: absolute; width: 4px;">9a</span><span class="xValueLbl" style="left: 59px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 86px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 114px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 141px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 169px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 196px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 224px; position: absolute; width: 4px;">4p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><span class="inline-list">10/29/13 <a href="http://online.wsj.com/news/articles/SB10001424052702303471004579165514274681286">GAIL India in Talks With Ophir...</a></span> <a href="http://quotes.wsj.com/UK/OPHR?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/UK/OPHR">OPHR.LN</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> PLC entered Somaliland in 2004 by acquiring an interest in a company that was granted a concession there in 2003—one that overlaps with a lease BP holds from Mogadishu.</div>
<div style="font-size: 15px;">
Ophir says its lease is legitimate. Its partner, RAK Gas LLC of United Arab Emirates, in September acquired a controlling stake in the lease; RAK Gas didn't respond to inquiries. BP says its Somali leases are valid and that it is discussing them with Mogadishu.</div>
<div style="font-size: 15px;">
Mogadishu says it considers leases by regional Somali governments invalid. The constitution "doesn't allow any federal states to enter any agreements, whether that's Somaliland or any other region," says Somalia's natural-resources minister, Abdirizak Omar Mohamed. </div>
<div style="font-size: 15px;">
In July 2012, Genel chartered a plane to Hargeisa. Somaliland's Mr. Dualeh says he was thrilled to see Mr. Hayward—whom he knew from TV newscasts—arrive at his ministry building.</div>
<div style="font-size: 15px;">
After Somaliland announced the Genel deal, Mogadishu objected: "There is no 'Independent Republic of Somaliland,' " federal oil adviser Patrick Molliere wrote in an email to Mr. Hayward, reviewed by the Journal. "You were the BP CEO, and you know that you cannot sign with a local federal government."</div>
<div style="font-size: 15px;">
Mr. Hayward says he was unfazed: "It's not dissimilar to the experience in the Kurdistan region of Iraq." Genel says it believes the regional government has jurisdiction.</div>
<div style="font-size: 15px;">
Genel's block overlaps with a ConocoPhillips lease from Mogadishu. ConocoPhillips isn't exploring in Somalia, but "we have not relinquished our interests there," a company spokesman says.</div>
<div style="font-size: 15px;">
Mogadishu has decried other such deals. "Companies like yours are creating potential possible instabilities," Mr. Molliere wrote in May to Chairman Bijan Mossavar-Rahmani of Norway's <!-- module article chiclet --> <a class="t-company" href="http://quotes.wsj.com/NO/DNO">DNO International</a> AS <span class="article-chiclet down" data-channel-currency="&#107;&#114;" data-channel-last-price="18.93" data-channel-path="" data-country-code="NO" data-ticker-code="DNO" data-utc-offset-hours="1"><!-- up, down, neutral --> <span class="ticker"><a href="http://quotes.wsj.com/NO/DNO">DNO.OS -0.53%</a> </span> <!--ticker content box--> <span class="t-content"><span class="t-name"><a href="http://quotes.wsj.com/NO/DNO">DNO International ASA</a></span> <!--row 1--> <span class="t-sec-1"><span class="t-exch">Norway: Oslo</span> <span class="t-index"><span class="t-curnum down"><!-- up, down ,neutral --> <sup>kr</sup>18.83 </span> <span class="t-direction down"><!-- up, down ,neutral --> -0.10 -0.53% </span> </span> <span class="t-dates"> Nov. 13, 2013 1:05 pm Volume : 795,359 </span> </span> <!--row 3--> <span class="t-sec-3"><span class="inline-list"> P/E Ratio 13.95 </span> <span class="inline-list">Market Cap kr19.54 Billion </span> <span class="inline-list"> Dividend Yield N/A </span> <span class="inline-list">Rev. per Employee kr3,924,350 </span> </span> <!--row 4--> <span class="t-sec-4"><!--canvas art--> <span data-ticker="NO:DNO" data-type="chart" id="noxosldno"><canvas height="92" width="234"></canvas><span class="x-num">19.1019.0018.9018.80</span><span class="y-num"><span class="xValueLbl" style="left: 32px; position: absolute; width: 4px;">10a</span><span class="xValueLbl" style="left: 60px; position: absolute; width: 4px;">11a</span><span class="xValueLbl" style="left: 88px; position: absolute; width: 4px;">12p</span><span class="xValueLbl" style="left: 116px; position: absolute; width: 4px;">1p</span><span class="xValueLbl" style="left: 144px; position: absolute; width: 4px;">2p</span><span class="xValueLbl" style="left: 172px; position: absolute; width: 4px;">3p</span><span class="xValueLbl" style="left: 200px; position: absolute; width: 4px;">4p</span><span class="xValueLbl" style="left: 228px; position: absolute; width: 4px;">5p</span></span></span> </span> <!--row 5--> <span class="t-sec-5"><a href="http://quotes.wsj.com/NO/DNO?mod=articleInlineTicker">More quote details and news »</a> </span> <!-- Portfolio --> <span class="t-sec-6" style="display: none;"><span class="t-name"><a href="http://quotes.wsj.com/NO/DNO">DNO.OS</a> in <span class="myPort"><a href="https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet" target="_blank"><img src="data:image/png;base64,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" /> </a> </span> </span> <span class="numbers"><span class="sec-title"><span class="y-value">Your Value</span> <span class="y-change">Your Change</span> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="n-values"> <!-- up, down, neutral --> </span> <span class="shot-p">Short position</span> </span> </span> <!-- end of data tooltip contents --> </span> </span> A, which has an exploration agreement with Somaliland. Mr. Mossavar-Rahmani says the lease is valid.</div>
<div style="font-size: 15px;">
Lane Franks, president of Phoenix-based Liberty Petroleum Corp., formed a company that agreed last year with Somalia's Galmudug state to explore an area there that Mogadishu had awarded to Shell.</div>
<div style="font-size: 15px;">
He negotiated with Galmudug President Abdi Hassan Awale, he says. The U.N.'s July report called Mr. Awale a "warlord" who fought U.N. peacekeepers in the 1990s. Mr. Franks says he is aware of Mr. Awale's history but believes he has changed. He "seemed to be a man who really wanted what was best for his people," he says.</div>
<div style="font-size: 15px;">
Mr. Awale, by phone, said: "I don't know what you mean about, with the 'warlord.' " He declined to comment further, requesting contact by text message; he didn't answer subsequent texts.</div>
<div style="font-size: 15px;">
Mogadishu and Shell officials say they objected to the leases. Somalia's supreme court approved Galmudug's right to sign leases, says a Mogadishu official, adding that the central government expects to appeal.</div>
<div style="font-size: 15px;">
Shell CEO Peter Voser says Shell is discussing returning to Somali offshore sites. At a March meeting in the Netherlands, Shell officials told Mogadishu officials they "should take responsibility and action" on leases that overlap Shell's, according to documents the Journal reviewed. Shell and Mogadishu officials confirm the meeting.</div>
<div style="font-size: 15px;">
Genel teams this year began seismic tests in Somaliland. They pulled out this September after a security threat. "Discussions continue with the Somaliland government in order to facilitate a resumption of activity," Genel said last month.</div>
<div style="font-size: 15px;">
Somaliland's Mr. Dualeh says it may create an armed "oil protection force."</div>
<div style="font-size: 15px;">
Mr. Hayward says Genel is seeking new lands and is optimistic about opportunities "east of the Caspian, through the 'stans of various names to Afghanistan."</div>
<div style="font-size: 15px;">
<strong>Write to </strong> Justin Scheck at <a class="icon " href="mailto:justin.scheck@wsj.com" target="_new">justin.scheck@wsj.com</a> and Alexis Flynn at <a class="icon " href="mailto:alexis.flynn@wsj.com" target="_new">alexis.flynn@wsj.com</a></div>
</article><br /></div>
</div>
</section><br />gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com1tag:blogger.com,1999:blog-8571839915984374320.post-38871394932617375172013-11-13T04:29:00.000-08:002013-11-13T04:29:23.408-08:00<b><span style="font-size: x-large;">Former BP Chief's New Quest: Wildcatting on the Edge of Danger<br />
</span><span style="font-size: large;">Tony Hayward, After Deepwater Horizon Debacle, Seeks Oil in Somalia<br />
</span><br /></b><span style="font-family: Calibri; font-size: small;"><span style="font-family: Calibri; font-size: small;"><span lang=""> <br />
</span><br /></span><br /></span><span lang="EN-GB">A man looked for firewood in Somaliland. Agence France-Presse/Getty Images <br />
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When London's <a href="http://quotes.wsj.com/UK/GENL"><u><span style="color: blue;"><span lang="EN-GB">Genel Energy</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/GENL"><u><span style="color: blue;"><span lang="EN-GB">GENL.LN -0.68%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/GENLhttp://online.wsj.com/news/articles/SB10001424127887324549004579064680710758254http://quotes.wsj.com/UK/GENL?mod=articleInlineTickerhttp://quotes.wsj.com/UK/GENLhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC"><span lang="EN-GB">http://quotes.wsj.com/UK/GENLhttp://online.wsj.com/news/articles/SB10001424127887324549004579064680710758254http://quotes.wsj.com/UK/GENL?mod=articleInlineTickerhttp://quotes.wsj.com/UK/GENLhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC</span></a><span lang="EN-GB"> decided last year to search for oil in Somalia, it didn't negotiate with the country's internationally recognized government in Mogadishu.</span><br />
<br />
Instead, Genel Chief Executive <a href="http://topics.wsj.com/person/H/Tony-Hayward/686"><u><span style="color: blue;"><span lang="EN-GB">Tony Hayward</span></span></u></a><span lang="EN-GB"> flew to a city about 500 miles north: Hargeisa, the dusty capital of breakaway Somaliland. He visited the separatist president at home and told the resources minister that Genel could spend about $100 million prospecting there.</span><br />
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"We will find oil," said Mr. Hayward at the July 2012 meeting, according to him and the resources minister, Hussein Abdi Dualeh. Somaliland gave Genel permission to prospect.<br />
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Mr. Hayward, <a href="http://quotes.wsj.com/UK/BP."><u><span style="color: blue;"><span lang="EN-GB">BP</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/BP."><u><span style="color: blue;"><span lang="EN-GB">BP.LN -0.27%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/BP.http://online.wsj.com/news/articles/SB10001424052702303442004579123560225082786http://online.wsj.com/news/articles/SB10001424052702303309504579182020273051800http://blogs.wsj.com/cio/2013/11/01/bp-names-michael-gibbs-cio/http://quotes.wsj.com/UK/BP.?mod=articleInlineTickerhttp://quotes.wsj.com/UK/BP.https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC's"><span lang="EN-GB">http://quotes.wsj.com/UK/BP.http://online.wsj.com/news/articles/SB10001424052702303442004579123560225082786http://online.wsj.com/news/articles/SB10001424052702303309504579182020273051800http://blogs.wsj.com/cio/2013/11/01/bp-names-michael-gibbs-cio/http://quotes.wsj.com/UK/BP.?mod=articleInlineTickerhttp://quotes.wsj.com/UK/BP.https://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC's</span></a><span lang="EN-GB"> chief during its 2010 Deepwater Horizon disaster in the Gulf of Mexico, has joined a breed of wildcatters who deploy a risky and sometimes lucrative strategy: Look for oil in politically or geologically fraught lands after cutting deals with governments that claim the lands, even if those claims are in dispute.</span><br />
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These oilmen operate on what the 56-year-old Mr. Hayward calls "the political frontier." They sometimes defy the wishes of Washington and the United Nations, which say companies can amplify conflicts and foment instability by entering disputed lands.<br />
<br />
Genel executives Tony Hayward and Mehmet Sepil hope to find oil in Somaliland. Bloomberg News <br />
<br />
In Somaliland, Mr. Hayward is stepping into a decadeslong conflict. The northern-Somalia region declared independence in 1991. But Somalia still claims it, and the U.N. doesn't recognize its independence.<br />
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The breakaway Somaliland's oil agreements are particularly contentious because they sometimes overlap leases that the central Mogadishu government negotiated years ago and that are held by companies such as BP, <a href="http://quotes.wsj.com/UK/RDSB"><u><span style="color: blue;"><span lang="EN-GB">Royal Dutch Shell</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/RDSB"><u><span style="color: blue;"><span lang="EN-GB">RDSB.LN -1.41%</span></span></u></a><br />
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<span lang="EN-GB"><br />
A U.S. State Department official says that without a resolution between the central and regional governments, oil deals "are going to create conflict." A July U.N. report says making oil deals in fractious Somali regions could "constitute threats to peace and security."<br />
<br />
Somalia believes Genel's deal could "destabilize" the nation, the Mogadishu government told Mr. Hayward in a 2012 email The Wall Street Journal reviewed, alleging that Genel is "in search of more profits by creating more problems in this part of the world."<br />
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Mr. Hayward says he disagrees. Since BP replaced him in 2010 after the Deepwater Horizon explosion and spill, he has staked his future on the notion that finding oil will not only make money but also make people stop fighting.<br />
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"If people have the opportunity to earn money and buy a BMW, rather than run around the hills with a Kalashnikov," he says, "they'll do it."<br />
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Somaliland's Mr. Dualeh says oil will help win recognition and generate income for his stable but extremely poor region.<br />
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Global wildcatters like Mr. Hayward are playing a growing role in the oil industry. Big companies often avoid exploring regions that are unstable or have troublesome geology. Yet, they need new reserves. So they sometimes rely on small firms to find oil in risky places. If political or geological challenges don't disrupt production, bigger companies often follow.<br />
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The blueprint is Genel's success in Iraq's Kurdistan region. A decade ago, big oil companies weren't there, largely because of security concerns. Genel made a deal with Kurdistan's leaders anyway, becoming one of the first Western prospectors to drill there. Rivals eventually followed.<br />
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Others have made similar bets. U.K.-listed <a href="http://quotes.wsj.com/UK/TLW"><u><span style="color: blue;"><span lang="EN-GB">Tullow Oil</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/TLW"><u><span style="color: blue;"><span lang="EN-GB">TLW.LN -2.28%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/TLWhttp://quotes.wsj.com/UK/TLW?mod=articleInlineTickerhttp://quotes.wsj.com/UK/TLWhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC"><span lang="EN-GB">http://quotes.wsj.com/UK/TLWhttp://quotes.wsj.com/UK/TLW?mod=articleInlineTickerhttp://quotes.wsj.com/UK/TLWhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC</span></a><span lang="EN-GB"> in 2006 agreed to buy a company to which Uganda had granted exploration rights in borderlands that the Democratic Republic of Congo contests. After Tullow's exploration partner began prospecting in 2007, troops from Congo and Uganda clashed there, killing several civilians.</span><br />
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The area "was at that time less peaceful than it is now," says Tullow spokesman George Cazenove.<br />
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By drilling "real wildcat" wells in such places, he says, prospectors are "hoping to hit the mother lode and therefore a big company will come in and buy out the whole license." Tullow last year sold some of its Uganda assets for $2.9 billion.<br />
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A Congolese official says the country now accepts Tullow's agreements with Uganda. Congolese and Ugandan officials say their countries now meet to discuss oil exploration in border regions.<br />
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U.K.-based Surestream Petroleum Ltd. and South Africa's <a href="http://quotes.wsj.com/ZA/SCL"><u><span style="color: blue;"><span lang="EN-GB">SacOil Holdings</span></span></u></a><span lang="EN-GB"> Ltd. </span><a href="http://quotes.wsj.com/ZA/SCL"><u><span style="color: blue;"><span lang="EN-GB">SCL.JO 0.00%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/ZA/SCLhttp://quotes.wsj.com/ZA/SCL?mod=articleInlineTickerhttp://quotes.wsj.com/ZA/SCLhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletsaid"><span lang="EN-GB">http://quotes.wsj.com/ZA/SCLhttp://quotes.wsj.com/ZA/SCL?mod=articleInlineTickerhttp://quotes.wsj.com/ZA/SCLhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletsaid</span></a><span lang="EN-GB"> last year they secured rights from Malawi in an area Tanzania claims. Officials for the companies and countries declined to comment or didn't respond to inquiries.</span><br />
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U.S.-based <a href="http://quotes.wsj.com/MUR"><u><span style="color: blue;"><span lang="EN-GB">Murphy Oil</span></span></u></a><span lang="EN-GB"> Corp. </span><a href="http://quotes.wsj.com/MUR"><u><span style="color: blue;"><span lang="EN-GB">MUR +0.05%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/MURhttp://blogs.wsj.com/moneybeat/2013/10/30/morning-moneybeat-for-the-love-of-the-markets-root-against-the-red-sox/http://quotes.wsj.com/MUR?mod=articleInlineTickerhttp://quotes.wsj.com/MURhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletand"><span lang="EN-GB">http://quotes.wsj.com/MURhttp://blogs.wsj.com/moneybeat/2013/10/30/morning-moneybeat-for-the-love-of-the-markets-root-against-the-red-sox/http://quotes.wsj.com/MUR?mod=articleInlineTickerhttp://quotes.wsj.com/MURhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletand</span></a><span lang="EN-GB"> U.K. partner </span><a href="http://quotes.wsj.com/UK/SEY"><u><span style="color: blue;"><span lang="EN-GB">Sterling Energy</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/SEY"><u><span style="color: blue;"><span lang="EN-GB">SEY.LN 0.00%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/SEYhttp://quotes.wsj.com/UK/SEY?mod=articleInlineTickerhttp://quotes.wsj.com/UK/SEYhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC"><span lang="EN-GB">http://quotes.wsj.com/UK/SEYhttp://quotes.wsj.com/UK/SEY?mod=articleInlineTickerhttp://quotes.wsj.com/UK/SEYhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC</span></a><span lang="EN-GB"> have announced deals with Cameroon in offshore areas Equatorial Guinea claims. Murphy and officials of the countries declined to comment or didn't respond to inquiries. Sterling entered the area before the dispute flared up, says Sterling CEO Alastair Beardsall. </span><br />
<br />
<br />
<br />
Because small companies have less money, "by definition they have to go to the frontier, either the technical frontier or the political frontier," says Mr. Hayward. "There's no point in them following the big guys."<br />
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Mr. Hayward was drawn to Somaliland because it seemed a promising place to repeat Genel's success.<br />
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Genel was founded in 2002 by Mehmet Sepil, a Turkish construction magnate. He says current Iraqi president and longtime Kurdish leader Jalal Talabani phoned that year with a proposal: Develop Kurdistan's neglected oil fields.<br />
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"At the time, the political risk was very, very big," says Mr. Sepil, now Genel's president, from his Ankara office. (The Che Guevara portrait on his wall shows, he says, that he is an "old leftist.") The U.S. was preparing to invade Iraq, and relations between Turkey and the Kurds were "very sensitive."<br />
<br />
Mr. Talabani, who suffered a stroke, couldn't be reached for comment.<br />
<br />
Mr. Sepil and a partner agreed with Kurdistani leaders to spend at least $35 million prospecting, he says. Unable to hire a drilling contractor<span style="font-family: Times New Roman;">—</span>none could get insurance<span style="font-family: Times New Roman;">—</span>he spent $14 million for a used rig he trucked into the hills, he says. He eventually struck oil.<br />
<br />
The Baghdad government told Mr. Sepil his Kurdistan leases weren't legitimate, he says. In 2004, he met Baghdad officials to negotiate approval, documents reviewed by the Journal show. They never reached a deal.<br />
<br />
Baghdad adheres to its long-standing position, says an Iraqi Oil Ministry spokesman, that contracts signed in Kurdistan aren't valid if the central government hasn't approved them. He says Baghdad is open to negotiating with Kurdistan. A Kurdistani-government spokesman says its deals are legal.<br />
<br />
Genel continued drilling despite the controversy.<br />
<br />
Genel's success finding oil inspired other small companies to follow. Then, midsize companies like U.S.-based <a href="http://quotes.wsj.com/HES"><u><span style="color: blue;"><span lang="EN-GB">Hess</span></span></u></a><span lang="EN-GB"> Corp. </span><a href="http://quotes.wsj.com/HES"><u><span style="color: blue;"><span lang="EN-GB">HES -1.15%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/HEShttp://online.wsj.com/news/articles/SB10001424127887324324404579045431388717494http://quotes.wsj.com/HES?mod=articleInlineTickerhttp://quotes.wsj.com/HEShttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletentered"><span lang="EN-GB">http://quotes.wsj.com/HEShttp://online.wsj.com/news/articles/SB10001424127887324324404579045431388717494http://quotes.wsj.com/HES?mod=articleInlineTickerhttp://quotes.wsj.com/HEShttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletentered</span></a><span lang="EN-GB">. Hess says it continues to work in Kurdistan.</span><br />
<br />
<a href="http://quotes.wsj.com/XOM"><u><span style="color: blue;"><span lang="EN-GB">Exxon Mobil</span></span></u></a><span lang="EN-GB"> Corp. </span><a href="http://quotes.wsj.com/XOM"><u><span style="color: blue;"><span lang="EN-GB">XOM -0.31%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/XOMhttp://blogs.wsj.com/moneybeat/2013/11/12/chevron-brazils-petrobras-start-oil-output-at-papa-terra-field/http://online.wsj.com/news/articles/SB10001424052702304527504579168140813739808http://online.wsj.com/news/articles/SB10001424052702304448204579185241227911018http://quotes.wsj.com/XOM?mod=articleInlineTickerhttp://quotes.wsj.com/XOMhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletand"><span lang="EN-GB">http://quotes.wsj.com/XOMhttp://blogs.wsj.com/moneybeat/2013/11/12/chevron-brazils-petrobras-start-oil-output-at-papa-terra-field/http://online.wsj.com/news/articles/SB10001424052702304527504579168140813739808http://online.wsj.com/news/articles/SB10001424052702304448204579185241227911018http://quotes.wsj.com/XOM?mod=articleInlineTickerhttp://quotes.wsj.com/XOMhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletand</span></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/CVX"><u><span style="color: blue;"><span lang="EN-GB">Chevron</span></span></u></a><span lang="EN-GB"> Corp. </span><a href="http://quotes.wsj.com/CVX"><u><span style="color: blue;"><span lang="EN-GB">CVX -0.89%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/CVXhttp://blogs.wsj.com/moneybeat/2013/11/12/chevron-brazils-petrobras-start-oil-output-at-papa-terra-field/http://online.wsj.com/news/articles/SB10001424052702304073204579171410329578186http://blogs.wsj.com/corporate-intelligence/2013/11/01/the-race-for-oil-and-chevrons-10-6-billion-quarter/http://quotes.wsj.com/CVX?mod=articleInlineTickerhttp://quotes.wsj.com/CVXhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet"><span lang="EN-GB">http://quotes.wsj.com/CVXhttp://blogs.wsj.com/moneybeat/2013/11/12/chevron-brazils-petrobras-start-oil-output-at-papa-terra-field/http://online.wsj.com/news/articles/SB10001424052702304073204579171410329578186http://blogs.wsj.com/corporate-intelligence/2013/11/01/the-race-for-oil-and-chevrons-10-6-billion-quarter/http://quotes.wsj.com/CVX?mod=articleInlineTickerhttp://quotes.wsj.com/CVXhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklet</span></a><span lang="EN-GB">, the world's largest oil companies, have reached deals since 2011 to enter Kurdistan. Exxon declined to comment.</span><br />
<br />
Early explorers to Kurdistan, says Chevron's Iraq chief, Donnie MacDonald, "de-risked it to a degree." <br />
<br />
Thanks to growth in Kurdistan, Genel reported 2012 net income of $75.9 million on $333.4 million in revenue, up from a $57.7 million net loss on $24 million in 2011 revenue.<br />
<br />
Oil is bringing Kurdistan prosperity. Its capital, Erbil, has boomtown trappings: a modern airport and marble-façade condominiums, next to goats grazing dusty lots. New cars follow well-paved roads into the countryside.<br />
<br />
In 2011, a banker set Mr. Sepil up for dinner in London with Mr. Hayward, who wanted back into oil exploration.<br />
<br />
Trained as a geologist, Mr. Hayward rose from working offshore rigs to BP's helm in 2007. After leaving BP, he found partners and started an oil-investment firm.<br />
<br />
He was eager to prospect and delve into politics as big-firm CEOs can't, he says. In oil-rich countries, he says, small firms offer "an opportunity for the guys at the top of a company to have a much deeper personal relationship with the key leaders."<br />
<br />
At the dinner, Mr. Hayward, who dresses like a London banker, told the long-haired Mr. Sepil he wanted to move into politically or geographically risky Mediterranean and African regions. They agreed they could use Turkish and U.K. diplomatic contacts for access. "I said, 'Let's use our relationships like I used it in Kurdistan,' " Mr. Sepil says.<br />
<br />
Mr. Hayward's firm acquired Genel in a deal that took it public in 2011. One technically challenging region they began exploring was off Morocco's coast, Mr. Hayward says.<br />
<br />
Genel also consulted an in-house geologist with knowledge of Yemen's oil deposits. Such deposits, he told Genel, should also be present across the Gulf of Aden in Somaliland.<br />
<br />
Somaliland fit the profile Mr. Hayward and Mr. Sepil sought: geologically promising, too risky for big companies and with diplomatic ties to their home countries.<br />
<br />
Like Kurdistan a decade ago, Somaliland is self-governed and more stable than Somalia's south. The capital, Mr. Hayward says, "is very, very poor<span style="font-family: Times New Roman;">—</span>as Kurdistan was when it all started in Erbil."<br />
<br />
Turkey and the U.K. support Mogadishu but also support oil development in Somaliland, say diplomatic and oil-company officials. "We welcome inward investment into Somalia, including Somaliland," the U.K. foreign office says.<br />
<br />
As in Kurdistan, oil seeps from the ground. Yet big oil companies aren't prospecting. Shell and others had leases in the 1980s to explore in Somalia, including parts of Somaliland, but suspended operations amid growing violence.<br />
<br />
In the past decade, wildcatters began seeking local Somali leases. London's <a href="http://quotes.wsj.com/UK/OPHR"><u><span style="color: blue;"><span lang="EN-GB">Ophir Energy</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/OPHR"><u><span style="color: blue;"><span lang="EN-GB">OPHR.LN -0.39%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/UK/OPHRhttp://online.wsj.com/news/articles/SB10001424052702303471004579165514274681286http://quotes.wsj.com/UK/OPHR?mod=articleInlineTickerhttp://quotes.wsj.com/UK/OPHRhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC"><span lang="EN-GB">http://quotes.wsj.com/UK/OPHRhttp://online.wsj.com/news/articles/SB10001424052702303471004579165514274681286http://quotes.wsj.com/UK/OPHR?mod=articleInlineTickerhttp://quotes.wsj.com/UK/OPHRhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletPLC</span></a><span lang="EN-GB"> entered Somaliland in 2004 by acquiring an interest in a company that was granted a concession there in 2003<span style="font-family: Times New Roman;">—</span>one that overlaps with a lease BP holds from Mogadishu.</span><br />
<br />
Ophir says its lease is legitimate. Its partner, RAK Gas LLC of United Arab Emirates, in September acquired a controlling stake in the lease; RAK Gas didn't respond to inquiries. BP says its Somali leases are valid and that it is discussing them with Mogadishu.<br />
<br />
Mogadishu says it considers leases by regional Somali governments invalid. The constitution "doesn't allow any federal states to enter any agreements, whether that's Somaliland or any other region," says Somalia's natural-resources minister, Abdirizak Omar Mohamed. <br />
<br />
In July 2012, Genel chartered a plane to Hargeisa. Somaliland's Mr. Dualeh says he was thrilled to see Mr. Hayward<span style="font-family: Times New Roman;">—</span>whom he knew from TV newscasts<span style="font-family: Times New Roman;">—</span>arrive at his ministry building.<br />
<br />
After Somaliland announced the Genel deal, Mogadishu objected: "There is no 'Independent Republic of Somaliland,' " federal oil adviser Patrick Molliere wrote in an email to Mr. Hayward, reviewed by the Journal. "You were the BP CEO, and you know that you cannot sign with a local federal government."<br />
<br />
Mr. Hayward says he was unfazed: "It's not dissimilar to the experience in the Kurdistan region of Iraq." Genel says it believes the regional government has jurisdiction.<br />
<br />
Genel's block overlaps with a ConocoPhillips lease from Mogadishu. ConocoPhillips isn't exploring in Somalia, but "we have not relinquished our interests there," a company spokesman says.<br />
<br />
Mogadishu has decried other such deals. "Companies like yours are creating potential possible instabilities," Mr. Molliere wrote in May to Chairman Bijan Mossavar-Rahmani of Norway's <a href="http://quotes.wsj.com/NO/DNO"><u><span style="color: blue;"><span lang="EN-GB">DNO International</span></span></u></a><span lang="EN-GB"> AS </span><a href="http://quotes.wsj.com/NO/DNO"><u><span style="color: blue;"><span lang="EN-GB">DNO.OS -0.53%</span></span></u></a><span lang="EN-GB"> </span><a href="http://quotes.wsj.com/NO/DNOhttp://quotes.wsj.com/NO/DNO?mod=articleInlineTickerhttp://quotes.wsj.com/NO/DNOhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletA"><span lang="EN-GB">http://quotes.wsj.com/NO/DNOhttp://quotes.wsj.com/NO/DNO?mod=articleInlineTickerhttp://quotes.wsj.com/NO/DNOhttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechicklethttps://portfolio.wsj.com/portfolio?mod=WSJ_port_quotechickletA</span></a><span lang="EN-GB">, which has an exploration agreement with Somaliland. Mr. Mossavar-Rahmani says the lease is valid.</span><br />
<br />
Lane Franks, president of Phoenix-based Liberty Petroleum Corp., formed a company that agreed last year with Somalia's Galmudug state to explore an area there that Mogadishu had awarded to Shell.<br />
<br />
He negotiated with Galmudug President Abdi Hassan Awale, he says. The U.N.'s July report called Mr. Awale a "warlord" who fought U.N. peacekeepers in the 1990s. Mr. Franks says he is aware of Mr. Awale's history but believes he has changed. He "seemed to be a man who really wanted what was best for his people," he says.<br />
<br />
Mr. Awale, by phone, said: "I don't know what you mean about, with the 'warlord.' " He declined to comment further, requesting contact by text message; he didn't answer subsequent texts.<br />
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Mogadishu and Shell officials say they objected to the leases. Somalia's supreme court approved Galmudug's right to sign leases, says a Mogadishu official, adding that the central government expects to appeal.<br />
<br />
Shell CEO Peter Voser says Shell is discussing returning to Somali offshore sites. At a March meeting in the Netherlands, Shell officials told Mogadishu officials they "should take responsibility and action" on leases that overlap Shell's, according to documents the Journal reviewed. Shell and Mogadishu officials confirm the meeting.<br />
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Genel teams this year began seismic tests in Somaliland. They pulled out this September after a security threat. "Discussions continue with the Somaliland government in order to facilitate a resumption of activity," Genel said last month.<br />
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Somaliland's Mr. Dualeh says it may create an armed "oil protection force."<br />
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Mr. Hayward says Genel is seeking new lands and is optimistic about opportunities "east of the Caspian, through the 'stans of various names to Afghanistan."<br />
<b></b><br />
<b>Write to </b>Justin Scheck at <a href="mailto:justin.scheck@wsj.com"><u><span style="color: blue;"><span lang="EN-GB">justin.scheck@wsj.com</span></span></u></a><span lang="EN-GB"> and Alexis Flynn at </span><a href="mailto:alexis.flynn@wsj.com"><u><span style="color: blue;"><span lang="EN-GB">alexis.flynn@wsj.com</span></span></u></a><span lang="EN-GB"> </span></span><br /></span><br />gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-30057784491346024142012-10-01T12:31:00.003-07:002012-10-01T12:31:58.875-07:00<span lang="">
<span style="color: blue; font-size: large;"><strong>US might be first to Recognize Somaliland</strong></span><br />
<span style="color: red;"><span style="color: red; font-size: large;">01 oct 2012 Monday Read More</span></span><span style="font-size: medium;"></span><span style="color: red; font-size: medium;"><span style="color: red; font-size: medium;">(gabileyonline)</span></span><span style="font-size: medium;">A surprise candidate, Sheikh Hassan Sheikh Mohamoud, has won Somalia’s first freely contested presidential election. The bigger surprise will be if his government proves any less corrupt or incompetent than the one it is replacing.</span></span>Somalia is the world’s premier basket case, with a stranglehold atop Foreign Policy magazine’s annual Failed States Index. It’s home base for the pirates of the Indian Ocean, an intermittent haven and recruiting ground for al-Qaeda, and the cradle of al-Shabaab, a jihadist sect that kills aid workers, conscripts children and until recently controlled the capital, Mogadishu, and most of the south of the country.<br />
Somalia is also a place with great promise. It stands at a crucial trade crossroads, the portal between Arabia and East Africa (there’s a reason for those pirates). Despite the lack of a functional government for two decades, it has a bare-bones agricultural economy and even exports livestock. And it has oil -- maybe lots of oil: Up to 110 billion barrels underground and offshore estimated to be recoverable.<br />
Mohamoud, a 56-year-old academic and civil-society advocate, was elected not by the Somali people but by the country’s 275-member Parliament, which itself was formed in recent weeks though a corrupt, nepotism-ridden process dominated by tribal leaders and members of the outgoing Transitional Federal Government.<br />
It’s promising that, in the final runoff, Mohamoud defeated the transitional president, Sheikh Sharif Sheikh Ahmed, who oversaw a regime in which $7 out of every $10 of international aid ended up lining some power-broker’s pocket. (The unofficial national motto is "Maxaa igu jiraa," meaning "What’s in it for me?") Yet he will probably have less influence than the new Parliament speaker, Mohamed Sheikh Osman Jawari, an Islamist lawyer who was a minister under the dictator Mohamed Siad Barre in the 1980s.<br />
<b><span style="color: #004dbb; font-size: large;"><span style="color: #004dbb; font-size: large;">Predatory Government</span></span></b><span style="font-size: medium;">We don’t know much about either man, which is probably fine, because the new government is likely to be just as irrelevant as the old one, which Bronwyn Bruton, a Somalia expert with theAtlantic Council’s Ansari Africa Center, rightly calls a "predatory institution" that feasted on hundreds of millions of dollars of Western aid. Tax collection is virtually nonexistent; foreign aid is the only revenue source. The army is ragtag; a United Nations-sanctioned force of 17,000African Union troops known as Amisom keeps al-Shabaab at bay.<br />
Worst of all, there is no civil society, no economic structure, no legal or law-enforcement system, no education infrastructure, no forums for conflict resolution, and so on.<br />
Perhaps the best news for Somalia is that it is of increasingly little relevance in the West’s fight against Islamic terrorism. Al-Shabaab is a spent force, now holed up in the port of Kismayo under shelling by the Kenyan navy. The African Union seems intent on maintaining its presence, and at less than $500 million a year -- a third of which comes from the U.S. -- Amisom is a relatively inexpensive lid on the powder keg. Al-Qaeda has been pretty much wiped out, and U.S. drones are ready should it re-emerge. Even piracy is on the decline, thanks largely to newsecurity measures by shipping companies.<br />
With the local war on terrorism winding down, perhaps the war on poverty can begin. There is no chance of political self- sufficiency or security until the country has a functioning economy. Americans -- the State Department, nongovernmental groups and businesses -- can best help by ending the welfare handouts to the central government and shifting aid and investment directly to projects that change the lives of average Somalis. With al-Shabaab mostly gone, a good first step would be for UN agencies and charity groups, which decamped from country after a rash of kidnappings, to get their peaceful boots back on the ground.</span><b><span style="color: #004dbb; font-size: large;"><span style="color: #004dbb; font-size: large;">Smarter Aid</span></span></b><span style="font-size: medium;">Turkey has taken the lead on smart development, not just pledging $300 million for projects including a children’s hospital and refugee camp, but also sending Turkish contractors and workers and their families to live in Mogadishu, bypassing corrupt aid-delivery mechanisms and ensuring that the projects will get completed. Turkey has reopened its embassy, hosted in June an international conference on Somalia’s future, created regional development offices to foster business links, and begun twice-weekly flights from Istanbul to Mogadishu on Turkish Air. (THYAO) The Chinese energy giant Cnooc Ltd. (883) and smaller Canadian and Australian companies are already forging oil deals with the Somali government and that of the semiautonomous region of Puntland.<br />
The U.S. could send a strong diplomatic message about the premium it puts on stability and self-sufficiency by recognizing the breakaway region of Somaliland as an independent state. The former British protectorate of 3.5 million people in the northeast corner of Somalia has been autonomous and relatively stable since 1991, surviving on remittances from its diaspora and fees from handling export shipments for landlocked Ethiopia. The benefit of recognition is that Somaliland would be able to negotiate trade deals with foreign states. The downside is that it would be eligible for its own foreign aid. As we’ve seen in Somalia proper, that can do a lot more harm than good.<br />
Read more opinion online from Bloomberg View. Subscribe to receive a daily e-mail highlighting new View editorials, columns and op-ed articles.<br />
Today’s highlights: the editors on a bolder plan to revive the housing market; Margaret Carlsonon Republican efforts to suppress the vote; Clive Crook on why Germany’s currency nostalgiais off the mark; Peter Orszag on the money wasted in health care; Amity Shlaes on why Hoover haunts Romney but not Ryan; Richard Vedder on getting rid of college remedial education.<br />
To contact the Bloomberg View editorial board: view@bloomberg.net.</span>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-9963252901133571072012-06-03T09:52:00.001-07:002012-06-03T09:52:59.681-07:00Lawrence Solomon: Drop effort to keep Somalia together<span lang=""><h2>
Lawrence Solomon: Drop effort to keep Somalia together</h2>
</span><i><u><span style="color: #004dbb; font-size: x-large;"><span style="color: #004dbb; font-size: x-large;"></span></span></u></i><u><span style="color: #004dbb; font-size: x-large;"><span style="color: #004dbb; font-size: x-large;"></span></span></u><span style="color: #004dbb; font-size: x-large;"><span style="color: #004dbb; font-size: x-large;"></span></span><span style="font-size: small;">
</span><span style="color: red; font-size: large;"><span style="color: red; font-size: large;"></span></span><br />
<span style="color: red; font-size: large;"><span style="color: red; font-size: large;">Lawrence Solomon Jun 1, 2012 – 10:18 PM ET | Last Updated: Jun 1, 2012 10:36 PM ET<br />
</span></span><span style="font-size: large;"></span><br />
<span style="font-size: large;">Better to break up this artificial nation. Last in a series.<br />
<br />
To save Somalia from piracy, terrorism, hunger, corruption, warlordism and a third decade of anarchy, representatives from 54 countries, along with UN Secretary-General Ban Ki Moon, met in Turkey on Friday.<br />
<br />
The root causes of Somalia’s many problems, and the remedies, should by now be obvious to all involved. Instead, the dignitaries assembled in Turkey — representing one-quarter of the nations on Earth — are proposing policies that would continue to doom the Somali people.<br />
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Somalia, the failed state in the Horn of Africa, was born in 1960 with the seed of its own destruction — a grandiose commitment to achieve the dream of a Greater Somalia at the expense of its neighbours. Somalia’s five-pointed flag demonstrated this commitment. Two of the points represented British Somalia and Italian Somalia, the only two foreign protectorates that merged to form the newly independent nation. A third point represented French Somaliland to the north, a French territory whose population in a referendum had just voted against joining the new state; a fourth point represented the Northern Frontier District of a soon-to-be-independent Kenya; and the fifth point represented territories of Ethiopia, a sovereign state, to the west.<br />
<br />
Six months after Somalia’s day of independence, Somali hostilities against its neighbours began and, with few respites, have persisted almost continuously since. Somalia first precipitated attacks on Ethiopia and Kenya, then civil war broke out among the clans within Somalia. The upshot was untold suffering among the peoples of the region, secession by the former British Somaliland; and continuing chaos in what remains of Somalia.<br />
<br />
The British and the Italians, who had bought into the Somali activists’ demands for a Greater Somalia, unwisely facilitated the merger of their two culturally different protectorates, then saw the region drown in blood as the Somalis attempted to capture territory from their neighbours.<br />
<br />
Yet the demands for a Greater Somalia had neither historical nor cultural legitimacy — Greater Somalia was merely a post-colonial conceit. The Somalis — a dark-skinned people with Caucasian features — didn’t even exist until circa 1200 AD when the male Arab colonizers of the Horn of Africa formed new clans by marrying blacks, multiplying in number rapidly, and then squeezing most non-Somalis — those without male Arab lineage — out of the lands. The Horn of Africa did see some scattered clan-based Somali sultanates and empires, but mostly it saw colonization at the hands of Ottomans, Ethiopians, and Europeans. At no time were Somalis united in a Greater Somalia — the chief allegiances of these clan-based societies were to their own clans.<br />
<br />
The culturally different Somali clans of the north — what was once British Somaliland — were the first to see that a Grand Somalia led to a deadly dead end. In 1991, it seceded to become the independent state of Somaliland, over the objection of Somalia’s central government, of Arab and African states that didn’t want to legitimize secessionist movements of their own, of the former colonial powers who didn’t want to admit their mistakes, and of the United Nations, which wins the support of corrupt regimes by guaranteeing their sovereignty.<br />
<br />
Yet Somaliland has thrived, despite a brutal civil war that saw its capital city destroyed. Somaliland’s secret? Because the government of this breakaway state was ineligible for foreign aid, it became a self-reliant, peaceable and free-market state relatively free of corruption, unlike the official government of Somalia, which lavish foreign aid has made one of the most corrupt states on Earth. This week, World Bank auditors revealed they could account for only US$11-million of the US$94-million that the central government had received in 2009, and just US$22-million of its 2010 revenues of US$70-million.<br />
<br />
But for dependency on foreign aid, the northern part of what remains of Somalia — an historically independent-minded region called Puntland — might also have seceded. Puntland, in fact, has already gone partway to independence, by declaring itself an autonomous region. Now Puntland may break off entirely, mostly because Puntland appears to have so much oil that it would become one of the richest countries in the Middle East.<br />
<br />
To prevent a further breakup of Somalia, which would encourage breakaways by independent-minded peoples in other countries, the nations meeting in Turkey are promising to reward the leaders in Puntland if they’ll stay, and those in Somaliland if they return. If the Turkey meeting succeeds, it would create Somalia’s 15th failed government and set the stage for more like it. If it fails, the Somali people will have succeeded, by freeing themselves of the binds of foreign aid and false nationalism.<br />
<br />
Financial Post</span>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-39335111752176674302012-05-16T17:51:00.000-07:002012-05-16T17:59:20.591-07:00WFP food vouchers helping hungry families and local markets in Somalia<span lang=""><strong><span style="background-color: #fff2cc;"><span style="font-family: Verdana, sans-serif;"><span style="color: blue;"><span style="font-size: large;"><u>WFP food vouchers helping hungry families and local markets in Somalia</u></span>. 15/05/2012</span></span></span></strong><span style="font-family: Lucida Sans Unicode; font-size: small;"><span style="background-color: white; font-family: Lucida Sans Unicode; font-size: small;">Thousands of people in <span style="background-color: #ffd966; color: blue;">Somaliland are getting more fresh meat in their diet as a result of an innovative UN World Food Programme initiative that provides parents with vouchers to help them afford nutritious food from local traders.<br />Under the programme people receive US$80 of vouchers each month, and can use them to buy a variety of food including rice, cooking oil and fresh camel and goat meat. So far, around 15,000 people in north-western Somaliland are being given the vouchers as an alternative to food rations, and WFP plans to expand the initiative to other areas later this year.<br />"Using vouchers gives people greater choice about what food to eat, and gives WFP a powerful new tool for providing food assistance to the most vulnerable," said Stefano Porretti, WFP’s Country Director for Somalia. "At the same time, vouchers help the local economy by supporting local small and medium-scale producers and retailers."<br />The first phase of the voucher project is linked to WFP’s nutrition programme for young children in Burao, Somaliland. In the past, the family of each child being treated for moderate malnutrition received a monthly ration of food from WFP, but now WFP has switched to providing a set of vouchers that families can use to buy food from local retailers.<br />WFP is partnering with the Danish Refugee Council (DRC) to distribute the vouchers, in coordination with Medair, a non-governmental organisation which manages the nutrition programme in Burao.<br />In the first phase of the voucher project, there are 13 local traders registered to accept the vouchers, including those who sell fresh camel and goat meat, which are staples of the diet for most people in the largely pastoralist region and can play a vital role in improving nutritional status.<br />The initiative has proven extremely popular. After the vouchers were introduced, there was an increase in the number of people bringing their children in for nutrition screening. This means undernourished children will be more likely to get the treatment they need to develop healthy minds and bodies.<br />Eventually, WFP plans to expand the voucher approach to relief, recovery and resilience activities throughout the country where market conditions allow.<br />The new tool gives WFP additional flexibility in assisting vulnerable Somalis. WFP will distribute vouchers seasonally, during harvest periods when food is available in markets, while at other times of the year WFP will continue providing direct food rations during the lean seasons when supplies are scarcer.<br />WFP has reached about 1.5 million people with assistance in those areas of Somalia to which we have access since the start of the food crisis last year. Long-awaited rains and a good harvest mean that famine has receded, but gains made in food security and nutrition are fragile.<br />Source: World Food Program (WFP) – Press Release – 15 May 2012<br /><br />By PR; Mohamed A/Rahman<br />And Muhadiin Sheik Mohamed</span></span></span></span>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-30490423803823401322012-05-10T09:40:00.000-07:002012-05-10T09:40:44.060-07:00<span lang=""> <h2>
Mindesta to Earn Interest in Third Exploration Permit in SomalilandOTTAWA, CANADA, <span style="color: blue;">May 09, 2012</span></h2>
<span style="font-size: medium;">(MARKETWIRE via COMTEX) -- Mindesta Inc. ("Mindesta" or the "Company")MDST +9.09% wishes to announce that it now has an option to earn an interest in a third exploration permit in the Republic of Somaliland. Mindesta is already earning up to an 80 per cent interest in, and can ultimately acquire 100% of, the first two mineral exploration permits issued by the Republic of Somaliland under an existing Option Agreement with Nubian Gold Corporation ("Nubian"). Nubian was recently awarded a third permit, Abdul Qadir, which is approximately 2,000km2 in size and is located in the northeast part of Somaliland adjacent to the borders with Djibouti and Ethiopia. Abdul Qadir is automatically included in the Option Agreement pursuant to its terms with no change in expenditure requirements. Nubian has agreed with the government of Somaliland to reduce the size of the Arapsyo and Qabri Bahar permits by 50% following completion of the first phase exploration program.<br />
Option Agreement<br />
Nubian already held title to two 2,000km2 mineral exploration permits, Arapsyo and Qabri Bahar, in the Republic of Somaliland. Under the Option Agreement, Mindesta can earn a 50% interest in these permits, as well as any subsequently acquired, by incurring total exploration expenditures of $2 million within two years and can increase its interest to 80 per cent by completing a bankable feasibility study on any permit. Mindesta is required to make an upfront cash payment of $100,000 to Nubian as compensation for expenses incurred, and the first $750,000 of exploration expenditures represents a firm commitment. Mindesta also has the option to acquire all of Nubian's remaining interest in the permits at fair market value at any time after incurring the first $750,000 of exploration expenditures. The initial $100,000 payment to Nubian has not yet been paid.<br />
Field Program<br />
Mindesta has completed a stream and rock sampling program over the Arapsyo and Qabri Bahar permits which involved taking over 2,000 samples and has already initiated a similar program on the Abdul Qadir permit. The Company has received some preliminary assay results but the majority are still at the lab waiting to be processed. Once all results are received, the Company will analyze and compile the data and plan a second stage exploration program to follow up on the most promising targets.<br />
Mindesta has established an exploration office in Somaliland and currently has a staff of approximately 30 employees. To date, exploration expenditures of approximately $410,000 have been incurred. The Company will require additional financing to execute the second stage program.<br />
The Nubian Shield encompasses parts of Saudi Arabia, Egypt, Sudan, Eritrea and Somaliland and is host to many major mineral deposits including Bisha in Eritrea, Sukari in Egypt, and five gold/base metal mines in Saudi Arabia that are owned and operated by Ma'aden Gold, the state mining company. Somaliland has over 30,000km2 of exposed Precambrian rocks. Extensive sampling and mapping by the British, US and Russians in the 1970s identified a number of areas that are anomalous in gold, copper, lead, zinc and nickel. The program is being supervised by Remi Bosc who has 15 years of experience as a mineral exploration, resource and mining geologist in Europe, Africa and south- east Asia and was project geologist during the discovery of the Tasiast deposit in Mauritania, and Tucker Barrie Ph.D who is a recognized expert with a great deal of practical experience in the Arabia/Nubian Shield.<br />
Gregory Bowes, CEO of Mindesta stated that: "the Company has achieved first mover status in an area of the world which we believe has very attractive geology and an underappreciated political situation and the acquisition of the Abdul Qadir permit solidifies our position."<br />
About Somaliland<br />
The Republic of Somaliland is located on the Red Sea between Djibouti to the west, Somalia to the east and Ethiopia to the south. Somaliland is a former British colony that gained its independence in 1960 and became a member of the United Nations. Somaliland subsequently agreed to join Italian Somaliland, in an informal partnership that was never ratified by their respective parliaments, to form the greater "Somalia". Following the collapse of the Somalia government in 1992, Somaliland withdrew from the partnership and reasserted its independence. While the rest of the world has not yet officially recognized Somaliland's "re-independence", Somaliland has held three free, fair, and non-violent elections, it jails pirates and extremists, and it is one of the few functioning democracies in Africa and the Middle East.<br />
About Mindesta<br />
Mindesta is a junior exploration company that trades on the OTCBB and is an SEC registrant current on all 10k and 10Q filings. The Company has approximately 9.4 million shares outstanding.<br />
C. Tucker Barrie Ph.D., P. Geo., Vice President, Corporate Development, is the Company's a "Qualified Person" under Canada's NI 43-101 requirements and is responsible for and has approved the technical content of this press release.<br />
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.<br />
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.<br />
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS RELEASE</span></span>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-51099169708845189412012-04-29T12:39:00.002-07:002012-04-29T12:39:58.763-07:00Hydrocarbon potential of Somaliland<br />
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<tr><td class="Normal" width="517"><b><span style="color: #0092ff; font-size: 20pt;">Hydrocarbon potential of Somaliland </span></b></td></tr>
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<tr><td class="Normal" height="75" width="515"><b>M. Y. Ali* </b></td></tr>
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<tr><td class="style1" width="808"><b><span style="font-size: x-small;">Introduction</span></b><br />
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<span style="font-size: x-small;">Somaliland (Northern Somalia) is situated on the northern side of the Horn of Africa with the Gulf of Aden to the north, Somalia to the east, Ethiopia to the south and west, and Djibouti to the north-west (Fig.1). The morphology of the country is typical of areas in extension, with basins and mountains of up to 2000 m. There is little folding, but much normal faulting, some of which has very great throws. These strong vertical movements have controlled the accommodation space available for sediment deposition since the Lower Jurassic.</span></div>
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<span style="font-size: x-small;">To date there have only been 21 wells drilled in Somaliland (19 onshore and two offshore), many of which were only stratigraphic tests (Fig. 2). In fact few of the wells evaluated the hydrocarbon potential of the country and the type of prospects in the drilled basins. In addition, modern seismic reflection surveying has had very limited application in Somaliland. Therefore, many prospective petroleum systems in the onshore and offshore regions of the country remain relatively unexplored. </span></div>
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<span style="font-size: x-small;">In this paper, seismic, well, and outcrop data have been used to determine the petroleum systems of Somaliland. These data demonstrate that the country has favourable stratigraphy, structure, oil shows, and hydrocarbon source rocks. In addition, the results show that the Upper Jurassic and Cretaceous units, and possibly Oligocene-Miocene units, show potential for hydrocarbon generation. Traps are provided by rollover anticlines associated with listric growth faults and rotated basement faults which are controlled by Upper Jurassic to Lower Cretaceous tensional stresses. </span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><img height="519" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/f1.jpg" width="412" /></span> <b><span style="font-size: xx-small;">Figure 1</span></b><span style="font-size: xx-small;"><i>a) General location map of Somaliland in global context; b) Map of Somaliland and surrounding regions showing transform faults of the Gulf of Aden and the conjugate basins. Topography data is based on Shuttle Radar Topography Mission (SRTM) data. Bathymetry is based on satellite derived data (Smith and Sandwell, 1997). Also shown are cities mentioned in the text. </i></span></div>
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<span style="font-size: x-small;">The sedimentary section of Somaliland can be divided into four parts (Fig. 2):</span></div>
<span style="font-size: x-small;"><i>Jurassic rift sequences</i></span> <br />
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<span style="font-size: x-small;">The Jurassic deposits in Somaliland consist of a thick sequence of continental deposits (basal sandstone formation) resting directly on the peneplain basement rocks and over lain by a succession of limestones (Bihendula group) generally with some marl and shale intervals. Jurassic sediments were deposited in NW-SE trending grabens (e.g., Bihendula graben) that were formed as a result of tensional forces associated with the rifting of India from Africa.</span></div>
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<span style="font-size: x-small;">The Jurassic outcrop at Bihendula, 35 km south of Berbera, was the first to be recognized in the country and has since been the most extensively studied. It is where the greatest thickness (more than 1200 m) of fossiliferous marine Jurassic beds are exposed in the country.</span></div>
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<span style="font-size: x-small;"><i>Cretaceous sequences</i></span></div>
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<span style="font-size: x-small;">The Cretaceous sedimentation of Somaliland is characterized by lateral lithologic variability resulting from transgressing seas from the east. As a consequence, thick carbonate and shale sections were deposited in the eastern part of the country and equally thick sequences of sandstones were deposited in the west. The widely used term 'Nubian sandstone' has been applied by several workers to describe the entire Cretaceous clastic sequences seen in outcrop (MacFadyen, 1933). However, some authors (Bosellini, 1992) divided the Cretaceous into Yesomma sandstone and Tisje carbonates, although it is difficult to distinguish the different formations due to the transitional nature of the interfingering clastic and carbonate facies.</span></div>
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<span style="font-size: x-small;"><i>Eocene sequences</i></span><br />
<span style="font-size: x-small;">Eocene deposits of Somaliland consist of massive limestones of Auradu and Karkar formations separated by massive to banded gypsum and anhydrites. This is the result of Eocene seas transgressing from the east depositing Auradu lime stones. Periodic regression in the Middle Eocene resulted in evaporatic conditions, which led to the deposition of the Anhydrite (Taleh) series. Further transgression in the Upper Eocene caused the deposition of marine cherty limestone of Karkar formation.</span></div>
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<img height="370" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/blocks.jpg" width="740" /></div>
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<b><span style="font-size: xx-small;">Figure 2</span></b><span style="font-size: xx-small;"><i> Simplified geological map of Somaliland (modified from Abbate et al., 1993) showing positions of oil wells drilled and major sedimentary basins in the country Legend of wells are: (1) Zeila-I, (2) Zeila-2, (3) Zeila-3, (4) Zeila-4, (5) Heemal-l (6) Berbera-1, (7) Dagah Shabel-1, (8) Dagah Shabel-2, (9) Dagah Shabel-3, (10) Biyo Dader-1, (11) Las Dureh-I (12) Bur Dab-I, (13) Yaguri-I, (14) Las Anod-1, (15) Burhisso-1, (16) Nogal-1 (17) Faro Hills-I, (18) Hedad-1, (19) Buran-1 (20) Dab Qua-I, and (21) Bandar Harshau-1. Also shown are concessions held by various oil companies in the early I990s and the location of the seismic profile in Fig. 7.</i></span></div>
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<span style="font-size: x-small;"><img height995="" height="1081" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/Fig_03.gif" width="764" /></span></div>
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<span style="font-size: xx-small;">Figure 3 <i>General stratigraphic column of Somaliland showing essential petroleum systems in the country</i></span><span style="font-size: xx-small;"><i>.</i></span></div>
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<span style="font-size: x-small;"><i>Oligocene-Miocene rift sequences</i></span><br />
<span style="font-size: x-small;">Oligocene and Miocene sediments are mostly restricted to narrow and isolated sub-basins along the coastal belt border ing the Gulf of Aden, occasionally extending inland in low lying regions. They deposited in localized grabens caused by the rifting of the Gulf of Aden. They consist of a thick (up to 2500 m) syn-rift sequence of red-brown, green sand, silts, and gypsiferous sandstone. These sediments are almost entirely terrigenous deposited in lagoon, delta, and alluvial environments. The best outcrops of Oligocene-Miocene sediments occur in Daban basin (south-east of Berbera) which is a down-faulted rotated block bordering the Somaliland plateau (Fig. 2). </span><br />
<span style="font-size: x-small;">A summary of the stratigraphy of Somaliland is given in Fig. 3. This figure shows the major formations, general thicknesses, and known occurrences of oil shows in these rocks.</span></div>
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<span style="font-size: xx-small;"><img height="226" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/Daghani.jpg" width="301" /></span> </div>
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<span style="font-size: xx-small;"><b>Figure 4.</b> <span class="SpellE">Gahodleh</span> shale, <span class="SpellE">Bihendula</span> area, south of <span class="SpellE">Berbera</span></span></div>
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<span style="font-size: x-small;"><b>Exploration history</b></span></div>
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<span style="font-size: x-small;"><span class="SpellE">Petroleum</span> exploration in the country began in 1912 when an oil seep at <span class="SpellE">Dagah</span> <span class="SpellE">Shabel</span>, 38 km south-east of <span class="SpellE">Berbera</span>, was reported. In 1959 Standard </span><span style="font-size: x-small;">Vacuum (Mobil and Esso) drilled three dry wells (Dagah Shabel-1, -2, and -3) near the Dagah Shabel oil seep, without the aid of subsurface control. One of the wells recovered free oil from the Wanderer limestone (Upper Jurassic) and Nubian sandstone (Upper Cretaceous). However, no oil was recovered from the follow-up wells.</span></div>
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<span style="font-size: x-small;">Interest in oil exploration recommenced in the late 1970s and, in 1980, GECO conducted an extensive offshore speculative seismic survey in the Gulf of Aden for the Somali government. In the same year a vast concession known as the Guban concession was awarded to a consortium consisting of two oil companies, the Quintana Oil Company and Hunt Oil Company. </span><span style="font-size: x-small;">They conducted a detail exploration programme which included an aeromagnetic survey and a seismic programme over onshore blocks 32 and 35. However, after two years they relinquished the concession.</span></div>
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<span style="font-size: x-small;">Exploration interest in the country intensified in the mid 1980s during which most of the concessions were awarded to different oil companies (Fig. 2). The Hunt and Quintana concession was divided into two with one part awarded to Chevron and the other to a partnership of Amoco and International Petroleum Corporation. Phillips and Agip also held concessions in the country. Shell was awarded an offshore concession which encompassed most of the Gulf of Aden coastline. However, it relinquished that in 1984 after the failure of two wells (Bandar Harshau-1 and Dab Qua-1), although oil shows were encountered in pre-rift Eocene carbonates and post-rift clastics. The two wells were drilled in block M-10 in water depths of around 300 m.</span></div>
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<span style="font-size: x-small;">All of the oil companies operating in the country at the time including Amoco, Chevron, Agip, and Conoco declared <i>force majeure </i>on 11 July, 1989 due to continued civil unrest.</span></div>
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<span style="font-size: x-small;"><b>Hydrocarbon plays </b></span></div>
<span style="font-size: x-small;">The most compelling evidence that oil and gas accumulations may exist in Somaliland, as illustrated in Figs. 4-7, include:</span> <br />
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<li><span style="font-size: x-small;">Occurrence of oil seeps at Dagah Shabel. </span></li>
<li><span style="font-size: x-small;">Very good oil shows from several zones in most of the wells drilled including Dagah Shabel wells, Biyo Darer-1, Bandar Harshau-1, and Dab Qua-1.</span></li>
<li><span style="font-size: x-small;">Occurrence of mature oil-prone source beds with sufficient levels of organic carbon, together with potential reservoir rocks and structures in a variety of geological settings. </span></li>
<li><span style="font-size: x-small;">A number of Jurassic rift basins as well as Oligocene- Miocene sedimentary basins. These include Berbera/Guban (conjugate of Balhaf basin, Yemen), Daban, Las Dureh, Raguda, Al Mado (conjugate of the Masilah basin in Yemen ), and Nogal basins.</span></li>
<li><span style="font-size: x-small;">Widespread and appreciable thickness of porous and permeable reservoir rocks together with sealing rocks of Jurassic, Cretaceous, and Tertiary in age. </span></li>
<li><span style="font-size: x-small;">Evidence of structural growth during Jurassic, Cretaceous, and Tertiary times, which resulted in the formation of structural and stratigraphic traps. </span></li>
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<span style="font-size: x-small;">The lack of success in the early exploration wells drilled in Somaliland is primarily due to the complexity of the</span> <span style="font-size: x-small;">subsurface geology, and the lack of subsurface control by seismic data. Somaliland is a region of relatively abrupt lateral changes of stratigraphy that is related to the rifting and differential vertical movement during Mesozoic and Tertiary times (Ali, 2005). From post-drill analysis of the failed wells, the majority were as a result of poorly defined trap, thin, or absent reservoir, or due to the seal being either thin or absent. In addition, several of the wells were almost certainly stratigraphic tests. These include Zaila-1, Zaila-2, Las Dureh-1, and Dagah Shabel-3.</span></div>
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<span style="font-size: x-small;">The country contains several good quality source rocks which have potential for hydrocarbon generation (Table 1).</span> </div>
<span style="font-size: x-small;"><i>Jurassic</i></span> <br />
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<span style="font-size: x-small;"><i><span style="font-family: Arial, Helvetica, sans-serif;"></span></i>Numerous excellent quality source rocks of Jurassic age are known in outcrops along the coastal margin, including Bihendula area. Gahodleh and Daghani shales are the most important source rocks in the area (Fig. 4). Field investigations in Bihendula area (during July 2005) demonstrated that the Jurassic formations extend approximately 10 km along an east-west striking sequence of limestone ridges and shale valleys that dip generally south at about 17° (Fig. 5). The shales are dark to medium gray kerogen-rich fossiliferous claystones that have fine texture (Fig. 4). It is likely, therefore, that these shales have played an important part in the generation of hydrocarbon in the area. The 28 barrels of 32.2° API oil recovered from the Wanderer limestone in the Dagah Shabel-1 well supports this suggestion. Offshore wells have also indicated good source rocks of Jurassic age. For example, Dab Qua-1 well intersected shales of Daghani formation that had TOCs in the range of 0.53-1.18%.</span></div>
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<span style="font-size: x-small;">The results of the hydrocarbon source potential evaluation are summarized in Table 1. As indicated in the table, the composition of the kerogen in samples of Gahodleh and Daghani shales is primarily amorphous (Type I), which are algal remains that have greatest oil source potential.</span></div>
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<span style="font-size: xx-small;">Figure 5 <i>Southerly dipping Jurassic sequence of Gawan limestone overlying Daghani shale, Bihendula area.</i></span></div>
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<tr><td class="Normal" height="165" valign="top" width="805"><div align="justify">
<span style="font-size: x-small;"><i>Cretaceous</i></span><br />
<span style="font-size: x-small;">The Upper Cretaceous shales of Yesomma formation contain fair to good source potential. In both the Bandar Harshau-1and Dab Qua-1 wells, shales in the Yesomma formation had shown good source potential with TOC up to 5%.</span><br />
<span style="font-size: x-small;"><i>Eocene-Oligocene</i></span><br />
<span style="font-size: x-small;">The offshore well of Dab Qua-1 encountered a very good potential source rock of 15 m thick and TOC of 3%. In addition, good potential source rocks which had TOC of 11.3% outcrop in the Daban basin, although the succession is immature.</span></div>
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<tr><td class="Normal" height="667" valign="middle" width="727"><span style="font-size: x-small;"><b>Table 1</b> <i>Potential source rocks in Somaliland.</i></span> <br />
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<tr bgcolor="#0066cc"><td class="Normal" height="21" width="234"><span style="color: white; font-size: x-small;"><b>Age and Unit </b></span></td><td class="Normal" width="149"><span style="color: white; font-size: x-small;"><b>Sample Type </b></span></td><td class="Normal" width="73"><span style="color: white; font-size: x-small;"><b>TOC (%) </b></span></td><td class="Normal" width="253"><span style="color: white; font-size: x-small;"><b>Comments </b></span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="color: black; font-size: x-small;"><b>Bihendula </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="52" width="234"><span style="font-size: x-small;">Jurassic ( Upper Daghani shale)</span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">2.01 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil source; Type = Amorphous algal; Hydrogen Index = 537 mg/g; Genetic Potential = 11.47 kg/ton; Vitrinite Reflectance = 0.5-1.0. </span></td></tr>
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<table border="0" style="width: 727px;"><tbody>
<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Gahodleh shale)</span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.43 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair oil source; Hydrogen Index = 434 mg/g; Genetic Potential = 6.76 kg/ton; Vitrinite Reflectance = 0.4-0.9. </span></td></tr>
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<table border="0" style="width: 727px;"><tbody>
<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Dagah Shabel </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Calcareous shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dagah Shabel cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.75 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil source; Type = Amorphous algal; HC/Non HC = 0.57; Vitrinite Reflectance = 0.6. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Daghani shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dagah Shabel cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.46 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair to good source for condensate and gas; Type = Amorphous; HC/Non HC = 0.44. </span></td></tr>
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<table border="0" style="width: 727px;"><tbody>
<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Daban Basin</b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="47" width="234"><span style="font-size: x-small;">Eocene/Oligocene (Lignite from <br />lower Daban Series) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">11.3 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Potential gas; immature; Hydrogen Index = 104 mg/g; Genetic Potential = 12.17 kg/ton; Vitrinite Reflectance = 0.4. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Bandar Harshau-1 </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="47" width="234"><span style="font-size: x-small;">Upper Miocene (syn-rift shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (650 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.92 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Potential gas and oil; immature, Hydrogen Index = 268 mg/g; Genetic Potential = 5.41 kg/ton; No Vitrinite Reflectance. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="48" width="234"><span style="font-size: x-small;">Upper Cretaceous (Yesomma shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2271 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">3.26 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Overmature; Hydrogen Index = 17 mg/g; Genetic Potential = 0.84 kg/ton; Vitrinite Reflectance = 1.0; Type II/III organic matter. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="37" width="234"><span style="font-size: x-small;">Cretaceous (shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2268 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.1 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Hydrogen Index = 35 mg/g; Genetic Potential = 0.48 kg/ton. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Lower Cretaceous (shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2376 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.26 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Hydrogen Index = 21 mg/g; Genetic Potential = 0.35 kg/ton; Type III organic matter. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Dab Qua-1 </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="21" width="234"><span style="font-size: x-small;">Middle Eocene (15 m thick shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">3 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Very good oil source; Type I organic matter. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="34" width="234"><span style="font-size: x-small;">Upper Cretaceous, Yesomma shale </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">5 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil and gas source; Type II; Genetic Potential = 8 kg/ton. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Daghani shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.53- 1.18 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair oil and gas source; Type II/III organic matter; thin shale (6 m); Type I/II organic matter. </span></td></tr>
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<tr><td class="Normal" height="1689" width="803"><div align="justify">
<br />
<b><span style="font-size: x-small;">Thermal maturation and migration </span></b></div>
<div align="justify">
<span style="font-size: x-small;">Maturity levels of the source rocks vary from early to post-mature (Table 1). The Jurassic units (Gahodleh and Daghani shales), and possibly the Eocene units in the offshore areas, which may contain multiple source sequences, are situated within the oil window and are highly prospective for oil and gas. In addition, thermal modelling of the Gulf of Aden has identified a number of offshore kitchen areas that have excellent source potential (Bott et al., 1992). Furthermore, seismic and well data suggest both structural migration and strati-graphic migration are operative in these locations (Fig. 6). However, in general the potential Oligocene-Miocene source rocks are likely to be immature to early-mature for the majority of the onshore areas.</span></div>
<div align="justify">
<span style="font-size: x-small;"><b>Reservoir rocks</b></span></div>
<div align="justify">
<span style="font-size: x-small;">The sedimentary strata of Somaliland contain numerous reservoirs within the pre-syn- and post-rift rocks of the Gulf of Aden. Reservoir rocks for the pre-rift sequence include both carbonates (Eocene and Cretaceous-Jurassic) and sandstones (Cretaceous and basal Jurassic). Reservoir rocks in syn- and post-rift sequences are principally sandstones with secondary carbonate reservoirs.</span></div>
<div align="justify">
<span style="font-size: x-small;"><i>Jurassic</i></span></div>
<div align="justify">
<span style="font-size: x-small;">Two onshore wells, Dagah Shabel-2 and Biyo Dader-1, intersected 191 m and 160 m of sandstones in the Adigrat respectively. Porosity of the sandstones was variable, but as high as 15%. At Dagah Shabel-2 they produced fresh water. The reservoir potential of the Middle-Upper Jurassic deposits of Bihen, Wandere, and Gawan limestones is also good.</span></div>
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<i><span style="font-size: x-small;">Cretaceous</span></i></div>
<div align="justify">
<span style="font-size: x-small;">In the Upper Cretaceous, good clastic reservoirs have been recognized. Dagah Shabel-1 well intersected very thick (790 m) fine to coarse-graded fluvial sands of the Nubian (Yesomma) formation. The well encountered two highly porous sand units where small quantities (four barrels) of good quality (33.6° API) oil were recovered. In the offshore, the Bandar Harshau-1 well penetrated 536 m of Upper Cretaceous sediments of restricted shallow marine environment that had porosities of up to 14%.</span></div>
<div align="justify">
<span style="font-size: x-small;"><i>Tertiary (Eocene-Oligocene)</i></span><br />
<span style="font-size: x-small;">Clastics and carbonates of Eocene-Oligocene age also offer reservoir possibilities in syn- and post-rift traps. In the offshore, the Dab Qua-1 well penetrated a total of 183 m of Auradu limestone that have oil shows. Bandar Harshau-1 well also had minor oil and gas shows.</span></div>
<div align="justify">
<span style="font-size: x-small;"><b>Traps</b></span></div>
<div align="justify">
<span style="font-size: x-small;">In Somaliland, there is no evidence of large-scale compressive folding like that of north-eastern Arabia. However, at many localities in the country, minor folds are known to occur which are believed to have been caused either by rejuvenation of old fault blocks or drag along major faults parallel to the Gulf of Aden. Such folds are mainly confined to the Guban region where the intensity of the faulting has been very much greater than in the plateau. One such example is the minor folds recorded in the Dagah Shabel district, close to the Dagah Shabel fault. </span></div>
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<tr><td class="Normal" height="341" width="362"><img border="1" height="339" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/biyo1.jpg" width="354" /></td></tr>
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<b><span style="font-size: xx-small;">Figure 6 </span></b><span style="font-size: xx-small;"><i>Idealized north-south cross section of Biyo Darer area showing the elements of the petroleum systems. The dia gram depicts three potential migration scenarios: (1) Vertical migration from potential Jurassic source rocks into overlying Cretaceous Nubian formation, (2) Lateral migration from Jurassic source rocks into overlying Jurassic reservoirs, (3) Lateral migration from Jurassic source rocks into underlying Lower Jurassic Adigrat formation.</i></span></div>
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<span style="font-size: x-small;"><span style="font-size: x-small;">As a result the primary structural traps in the country are rollover anticlines associated with major growth faults that become listric above the pre-rift section. Stratigraphic traps are also important, particularly in the offshore areas where thick </span>successions of Jurassic and Cretaceous sediments were eroded. The seismic profile across the Dagah Shabel and Daban basin, as seen in Fig. 7, provides a sample of the type and density of structures present in the area. The figure illustrates the trapping styles in the area. In addition, the general magnitude of area of uplift of some of the structures might be a guide to possible structural size.</span><br />
<span style="font-size: x-small;"><b>Seals</b></span><br />
<span style="font-size: x-small;">The country has ideal conditions for seal development. Seals are constituted principally by interbedded shales for the Jurassic and Cretaceous sequences, with Eocene anhydrites also forming a regional seal. For the syn-rift sequence of Gulf of Aden Oligocene, anhydrites and interbedded shales are the main seals.</span><br />
<span style="font-size: x-small;"><b>Comparison with Yemen</b></span><br />
<span style="font-size: x-small;">The geology of Yemen shows many similarities with Somaliland. This can be supported by reconstructing the Arabian plate to the position before the opening of the Gulf of Aden when many basins in southern Yemen seem to extend to Somaliland. For example, the Balhaf graben appears to be a continuation of the Berbera basin, and Masila basin appears to be a continuation of Al Mado basin (Fig. 1). As in the case of the Jurassic basins in Somaliland, drilling within the Balhaf and Masila grabens have indicated the majority of basin infills are Jurassic and Cretaceous in age. Furthermore, significant accumulations of oil and gas have been found in Jurassic grabens in Yemen including the Masila basin. Therefore, exploration interest to date in Somaliland has centred on searching for Jurassic rifts similar to those in Yemen.</span></div>
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<img height="369" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/Fig12.jpg" width="643" /></div>
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<span style="font-size: xx-small;">Figure 7 Regional seismic profile crossing Dagah Shabel and Daban basin illustrating a graben structure of the Oligocene-Miocene units and the overall structural style of the area.</span></div>
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<span style="font-size: x-small;"><b>Conclusions</b></span><br />
<span style="font-size: x-small;">The available well, seismic, and outcrop data show that the potential for commercial accumulations of hydrocarbons in Somaliland is good. These data show that the hydrocarbons may have accumulated in numerous large tilted fault-blocks and isolated sub-basins. Jurassic rift basins form the main exploration plays. Secondary exploration targets include Oligocene-Miocene rift sequence of the Gulf of Aden together with underlying pre-rift Eocene carbonates. Hence, favourable hydrocarbon plays could exist over many thousands of untested square kilometres along the entire north coast and south-east of the country at various drilling depths. However, much more exploration work and exploratory drilling activities are needed especially in the basins adjacent to the Gulf of Aden to determine whether Oligocene-Miocene successions are mature.</span><br />
<span style="font-size: x-small;"><b>Acknowledgements</b></span><br />
<span style="font-size: x-small;">The author wishes to thank Abdirahman Yusuf and the Somaliland Ministry of Minerals and Water Resources for providing the seismic data, evaluation of source rocks, and supporting his visit to Somaliland in July 2005. He also wishes to thank the Petroleum Institute (Abu Dhabi) for supporting this work.<br /><br /><br /><i>*The Petroleum Institute, PO Box 2533, Abu Dhabi, UAE. E-mail: <a href="mailto:mali@pi.ac.ae">mali@pi.ac.ae</a></i></span><br />
<span style="font-size: x-small;"><b>References</b></span><br />
<span style="font-size: x-small;">Abbate, E. Sagri, M. and Sassi, F.P. [1993] Geology and mineral resources of Somalia and surrounding regions (with a geological map of Somalia 1:1.500.000). In Abbate, E., Sagri, M., and Sassi, F.P. (Eds) <i>1st Intern. Meeting on the Geology of Somalia and Surrounding Regions (GEOSOM 87), Florence.</i> </span><br />
<span style="font-size: x-small;">Ali, M.Y. [2005] Petroleum geology and hydrocarbon potential of Somaliland. <i>67th EAGE Annual Meeting</i>, Extended Abstracts, 283. </span><br />
<span style="font-size: x-small;">Bosellini, A. [1992] The continental margins of Somalia. Geology and geophysics of continental margins. I<i>n Watkins</i>, J.S., Zhiqiang, F., and McMillen, K.J. (Eds.).<i> Am. Assoc.</i> Petrol. Geol. Mem. 53, 185-205. Tulsa, Oklahoma. </span><br />
<span style="font-size: x-small;">Bott, W.F., Smith, B.A., Oakes, G., Sikander, A.H., and Ibrahim, A.I. [1992] The tectonic framework and regional hydrocarbon prospectively of the Gulf of Aden.<i> Journal of Petroleum Geology</i>, 15, 2, 211-243. </span><br />
<span style="font-size: x-small;">MacFadyen, W.A. [1933] <i>Geology of Somaliland.</i> Government of the Somaliland protectorate. </span><br />
<span style="font-size: x-small;">Smith, W. H. F. and Sandwell D. T. [1997] Global seafloor topography from satellite altimetry and ship depth soundings. </span><span style="font-size: x-small;"><i>Science</i>, 277, 1957-1962.</span><br />
<i><span style="font-size: x-small;">Source: First published in first break volume 24, August 2006, © 2006 EAGE</span></i><br />
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<b><span style="color: #ff9933; font-size: x-small;"><i><span style="color: #999999;">Article layout, text & images formated for Somaliland Times by Rashid M X Noor.</span></i></span></b><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
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<tr><td class="Normal" width="517"><b><span style="color: #0092ff; font-size: 20pt;">Hydrocarbon potential of Somaliland </span></b></td></tr>
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<tr><td class="Normal" height="75" width="515"><b>M. Y. Ali* </b></td></tr>
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<tr><td class="style1" width="808"><b><span style="font-size: x-small;">Introduction</span></b><br />
<div align="justify">
<span style="font-size: x-small;">Somaliland (Northern Somalia) is situated on the northern side of the Horn of Africa with the Gulf of Aden to the north, Somalia to the east, Ethiopia to the south and west, and Djibouti to the north-west (Fig.1). The morphology of the country is typical of areas in extension, with basins and mountains of up to 2000 m. There is little folding, but much normal faulting, some of which has very great throws. These strong vertical movements have controlled the accommodation space available for sediment deposition since the Lower Jurassic.</span></div>
<div align="justify">
<span style="font-size: x-small;">To date there have only been 21 wells drilled in Somaliland (19 onshore and two offshore), many of which were only stratigraphic tests (Fig. 2). In fact few of the wells evaluated the hydrocarbon potential of the country and the type of prospects in the drilled basins. In addition, modern seismic reflection surveying has had very limited application in Somaliland. Therefore, many prospective petroleum systems in the onshore and offshore regions of the country remain relatively unexplored. </span></div>
<div align="justify">
<span style="font-size: x-small;">In this paper, seismic, well, and outcrop data have been used to determine the petroleum systems of Somaliland. These data demonstrate that the country has favourable stratigraphy, structure, oil shows, and hydrocarbon source rocks. In addition, the results show that the Upper Jurassic and Cretaceous units, and possibly Oligocene-Miocene units, show potential for hydrocarbon generation. Traps are provided by rollover anticlines associated with listric growth faults and rotated basement faults which are controlled by Upper Jurassic to Lower Cretaceous tensional stresses. </span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><img height="519" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/f1.jpg" width="412" /></span> <b><span style="font-size: xx-small;">Figure 1</span></b><span style="font-size: xx-small;"><i>a) General location map of Somaliland in global context; b) Map of Somaliland and surrounding regions showing transform faults of the Gulf of Aden and the conjugate basins. Topography data is based on Shuttle Radar Topography Mission (SRTM) data. Bathymetry is based on satellite derived data (Smith and Sandwell, 1997). Also shown are cities mentioned in the text. </i></span></div>
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<tr><td height="532" valign="top" width="370"><span style="font-size: x-small;"><b>Stratigraphy and depositional setting</b></span><br />
<div align="justify">
<span style="font-size: x-small;">The sedimentary section of Somaliland can be divided into four parts (Fig. 2):</span></div>
<span style="font-size: x-small;"><i>Jurassic rift sequences</i></span> <br />
<div align="justify">
<span style="font-size: x-small;">The Jurassic deposits in Somaliland consist of a thick sequence of continental deposits (basal sandstone formation) resting directly on the peneplain basement rocks and over lain by a succession of limestones (Bihendula group) generally with some marl and shale intervals. Jurassic sediments were deposited in NW-SE trending grabens (e.g., Bihendula graben) that were formed as a result of tensional forces associated with the rifting of India from Africa.</span></div>
<div align="justify">
<span style="font-size: x-small;">The Jurassic outcrop at Bihendula, 35 km south of Berbera, was the first to be recognized in the country and has since been the most extensively studied. It is where the greatest thickness (more than 1200 m) of fossiliferous marine Jurassic beds are exposed in the country.</span></div>
<div align="justify">
<span style="font-size: x-small;"><i>Cretaceous sequences</i></span></div>
<div align="justify">
<span style="font-size: x-small;">The Cretaceous sedimentation of Somaliland is characterized by lateral lithologic variability resulting from transgressing seas from the east. As a consequence, thick carbonate and shale sections were deposited in the eastern part of the country and equally thick sequences of sandstones were deposited in the west. The widely used term 'Nubian sandstone' has been applied by several workers to describe the entire Cretaceous clastic sequences seen in outcrop (MacFadyen, 1933). However, some authors (Bosellini, 1992) divided the Cretaceous into Yesomma sandstone and Tisje carbonates, although it is difficult to distinguish the different formations due to the transitional nature of the interfingering clastic and carbonate facies.</span></div>
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<span style="font-size: x-small;"><i>Eocene sequences</i></span><br />
<span style="font-size: x-small;">Eocene deposits of Somaliland consist of massive limestones of Auradu and Karkar formations separated by massive to banded gypsum and anhydrites. This is the result of Eocene seas transgressing from the east depositing Auradu lime stones. Periodic regression in the Middle Eocene resulted in evaporatic conditions, which led to the deposition of the Anhydrite (Taleh) series. Further transgression in the Upper Eocene caused the deposition of marine cherty limestone of Karkar formation.</span></div>
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<img height="370" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/blocks.jpg" width="740" /></div>
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<b><span style="font-size: xx-small;">Figure 2</span></b><span style="font-size: xx-small;"><i> Simplified geological map of Somaliland (modified from Abbate et al., 1993) showing positions of oil wells drilled and major sedimentary basins in the country Legend of wells are: (1) Zeila-I, (2) Zeila-2, (3) Zeila-3, (4) Zeila-4, (5) Heemal-l (6) Berbera-1, (7) Dagah Shabel-1, (8) Dagah Shabel-2, (9) Dagah Shabel-3, (10) Biyo Dader-1, (11) Las Dureh-I (12) Bur Dab-I, (13) Yaguri-I, (14) Las Anod-1, (15) Burhisso-1, (16) Nogal-1 (17) Faro Hills-I, (18) Hedad-1, (19) Buran-1 (20) Dab Qua-I, and (21) Bandar Harshau-1. Also shown are concessions held by various oil companies in the early I990s and the location of the seismic profile in Fig. 7.</i></span></div>
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<span style="font-size: x-small;"><img height995="" height="1081" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/Fig_03.gif" width="764" /></span></div>
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<span style="font-size: xx-small;">Figure 3 <i>General stratigraphic column of Somaliland showing essential petroleum systems in the country</i></span><span style="font-size: xx-small;"><i>.</i></span></div>
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<span style="font-size: x-small;"><i>Oligocene-Miocene rift sequences</i></span><br />
<span style="font-size: x-small;">Oligocene and Miocene sediments are mostly restricted to narrow and isolated sub-basins along the coastal belt border ing the Gulf of Aden, occasionally extending inland in low lying regions. They deposited in localized grabens caused by the rifting of the Gulf of Aden. They consist of a thick (up to 2500 m) syn-rift sequence of red-brown, green sand, silts, and gypsiferous sandstone. These sediments are almost entirely terrigenous deposited in lagoon, delta, and alluvial environments. The best outcrops of Oligocene-Miocene sediments occur in Daban basin (south-east of Berbera) which is a down-faulted rotated block bordering the Somaliland plateau (Fig. 2). </span><br />
<span style="font-size: x-small;">A summary of the stratigraphy of Somaliland is given in Fig. 3. This figure shows the major formations, general thicknesses, and known occurrences of oil shows in these rocks.</span></div>
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<span style="font-size: xx-small;"><img height="226" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/Daghani.jpg" width="301" /></span> </div>
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<span style="font-size: xx-small;"><b>Figure 4.</b> <span class="SpellE">Gahodleh</span> shale, <span class="SpellE">Bihendula</span> area, south of <span class="SpellE">Berbera</span></span></div>
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<span style="font-size: x-small;"><b>Exploration history</b></span></div>
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<span style="font-size: x-small;"><span class="SpellE">Petroleum</span> exploration in the country began in 1912 when an oil seep at <span class="SpellE">Dagah</span> <span class="SpellE">Shabel</span>, 38 km south-east of <span class="SpellE">Berbera</span>, was reported. In 1959 Standard </span><span style="font-size: x-small;">Vacuum (Mobil and Esso) drilled three dry wells (Dagah Shabel-1, -2, and -3) near the Dagah Shabel oil seep, without the aid of subsurface control. One of the wells recovered free oil from the Wanderer limestone (Upper Jurassic) and Nubian sandstone (Upper Cretaceous). However, no oil was recovered from the follow-up wells.</span></div>
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<span style="font-size: x-small;">Interest in oil exploration recommenced in the late 1970s and, in 1980, GECO conducted an extensive offshore speculative seismic survey in the Gulf of Aden for the Somali government. In the same year a vast concession known as the Guban concession was awarded to a consortium consisting of two oil companies, the Quintana Oil Company and Hunt Oil Company. </span><span style="font-size: x-small;">They conducted a detail exploration programme which included an aeromagnetic survey and a seismic programme over onshore blocks 32 and 35. However, after two years they relinquished the concession.</span></div>
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<span style="font-size: x-small;">Exploration interest in the country intensified in the mid 1980s during which most of the concessions were awarded to different oil companies (Fig. 2). The Hunt and Quintana concession was divided into two with one part awarded to Chevron and the other to a partnership of Amoco and International Petroleum Corporation. Phillips and Agip also held concessions in the country. Shell was awarded an offshore concession which encompassed most of the Gulf of Aden coastline. However, it relinquished that in 1984 after the failure of two wells (Bandar Harshau-1 and Dab Qua-1), although oil shows were encountered in pre-rift Eocene carbonates and post-rift clastics. The two wells were drilled in block M-10 in water depths of around 300 m.</span></div>
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<span style="font-size: x-small;">All of the oil companies operating in the country at the time including Amoco, Chevron, Agip, and Conoco declared <i>force majeure </i>on 11 July, 1989 due to continued civil unrest.</span></div>
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<span style="font-size: x-small;"><b>Hydrocarbon plays </b></span></div>
<span style="font-size: x-small;">The most compelling evidence that oil and gas accumulations may exist in Somaliland, as illustrated in Figs. 4-7, include:</span> <br />
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<li><span style="font-size: x-small;">Occurrence of oil seeps at Dagah Shabel. </span></li>
<li><span style="font-size: x-small;">Very good oil shows from several zones in most of the wells drilled including Dagah Shabel wells, Biyo Darer-1, Bandar Harshau-1, and Dab Qua-1.</span></li>
<li><span style="font-size: x-small;">Occurrence of mature oil-prone source beds with sufficient levels of organic carbon, together with potential reservoir rocks and structures in a variety of geological settings. </span></li>
<li><span style="font-size: x-small;">A number of Jurassic rift basins as well as Oligocene- Miocene sedimentary basins. These include Berbera/Guban (conjugate of Balhaf basin, Yemen), Daban, Las Dureh, Raguda, Al Mado (conjugate of the Masilah basin in Yemen ), and Nogal basins.</span></li>
<li><span style="font-size: x-small;">Widespread and appreciable thickness of porous and permeable reservoir rocks together with sealing rocks of Jurassic, Cretaceous, and Tertiary in age. </span></li>
<li><span style="font-size: x-small;">Evidence of structural growth during Jurassic, Cretaceous, and Tertiary times, which resulted in the formation of structural and stratigraphic traps. </span></li>
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<span style="font-size: x-small;">The lack of success in the early exploration wells drilled in Somaliland is primarily due to the complexity of the</span> <span style="font-size: x-small;">subsurface geology, and the lack of subsurface control by seismic data. Somaliland is a region of relatively abrupt lateral changes of stratigraphy that is related to the rifting and differential vertical movement during Mesozoic and Tertiary times (Ali, 2005). From post-drill analysis of the failed wells, the majority were as a result of poorly defined trap, thin, or absent reservoir, or due to the seal being either thin or absent. In addition, several of the wells were almost certainly stratigraphic tests. These include Zaila-1, Zaila-2, Las Dureh-1, and Dagah Shabel-3.</span></div>
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<span style="font-size: x-small;">The country contains several good quality source rocks which have potential for hydrocarbon generation (Table 1).</span> </div>
<span style="font-size: x-small;"><i>Jurassic</i></span> <br />
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<span style="font-size: x-small;"><i><span style="font-family: Arial, Helvetica, sans-serif;"></span></i>Numerous excellent quality source rocks of Jurassic age are known in outcrops along the coastal margin, including Bihendula area. Gahodleh and Daghani shales are the most important source rocks in the area (Fig. 4). Field investigations in Bihendula area (during July 2005) demonstrated that the Jurassic formations extend approximately 10 km along an east-west striking sequence of limestone ridges and shale valleys that dip generally south at about 17° (Fig. 5). The shales are dark to medium gray kerogen-rich fossiliferous claystones that have fine texture (Fig. 4). It is likely, therefore, that these shales have played an important part in the generation of hydrocarbon in the area. The 28 barrels of 32.2° API oil recovered from the Wanderer limestone in the Dagah Shabel-1 well supports this suggestion. Offshore wells have also indicated good source rocks of Jurassic age. For example, Dab Qua-1 well intersected shales of Daghani formation that had TOCs in the range of 0.53-1.18%.</span></div>
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<span style="font-size: x-small;">The results of the hydrocarbon source potential evaluation are summarized in Table 1. As indicated in the table, the composition of the kerogen in samples of Gahodleh and Daghani shales is primarily amorphous (Type I), which are algal remains that have greatest oil source potential.</span></div>
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<span style="font-size: xx-small;">Figure 5 <i>Southerly dipping Jurassic sequence of Gawan limestone overlying Daghani shale, Bihendula area.</i></span></div>
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<span style="font-size: x-small;"><i>Cretaceous</i></span><br />
<span style="font-size: x-small;">The Upper Cretaceous shales of Yesomma formation contain fair to good source potential. In both the Bandar Harshau-1and Dab Qua-1 wells, shales in the Yesomma formation had shown good source potential with TOC up to 5%.</span><br />
<span style="font-size: x-small;"><i>Eocene-Oligocene</i></span><br />
<span style="font-size: x-small;">The offshore well of Dab Qua-1 encountered a very good potential source rock of 15 m thick and TOC of 3%. In addition, good potential source rocks which had TOC of 11.3% outcrop in the Daban basin, although the succession is immature.</span></div>
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<tr><td class="Normal" height="667" valign="middle" width="727"><span style="font-size: x-small;"><b>Table 1</b> <i>Potential source rocks in Somaliland.</i></span> <br />
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<tr bgcolor="#0066cc"><td class="Normal" height="21" width="234"><span style="color: white; font-size: x-small;"><b>Age and Unit </b></span></td><td class="Normal" width="149"><span style="color: white; font-size: x-small;"><b>Sample Type </b></span></td><td class="Normal" width="73"><span style="color: white; font-size: x-small;"><b>TOC (%) </b></span></td><td class="Normal" width="253"><span style="color: white; font-size: x-small;"><b>Comments </b></span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="color: black; font-size: x-small;"><b>Bihendula </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="52" width="234"><span style="font-size: x-small;">Jurassic ( Upper Daghani shale)</span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">2.01 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil source; Type = Amorphous algal; Hydrogen Index = 537 mg/g; Genetic Potential = 11.47 kg/ton; Vitrinite Reflectance = 0.5-1.0. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Gahodleh shale)</span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.43 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair oil source; Hydrogen Index = 434 mg/g; Genetic Potential = 6.76 kg/ton; Vitrinite Reflectance = 0.4-0.9. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Dagah Shabel </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Calcareous shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dagah Shabel cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.75 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil source; Type = Amorphous algal; HC/Non HC = 0.57; Vitrinite Reflectance = 0.6. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Daghani shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dagah Shabel cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.46 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair to good source for condensate and gas; Type = Amorphous; HC/Non HC = 0.44. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Daban Basin</b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="47" width="234"><span style="font-size: x-small;">Eocene/Oligocene (Lignite from <br />lower Daban Series) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">11.3 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Potential gas; immature; Hydrogen Index = 104 mg/g; Genetic Potential = 12.17 kg/ton; Vitrinite Reflectance = 0.4. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="47" width="234"><span style="font-size: x-small;">Upper Miocene (syn-rift shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (650 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.92 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Potential gas and oil; immature, Hydrogen Index = 268 mg/g; Genetic Potential = 5.41 kg/ton; No Vitrinite Reflectance. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="48" width="234"><span style="font-size: x-small;">Upper Cretaceous (Yesomma shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2271 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">3.26 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Overmature; Hydrogen Index = 17 mg/g; Genetic Potential = 0.84 kg/ton; Vitrinite Reflectance = 1.0; Type II/III organic matter. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="37" width="234"><span style="font-size: x-small;">Cretaceous (shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2268 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.1 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Hydrogen Index = 35 mg/g; Genetic Potential = 0.48 kg/ton. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Lower Cretaceous (shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2376 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.26 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Hydrogen Index = 21 mg/g; Genetic Potential = 0.35 kg/ton; Type III organic matter. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="21" width="234"><span style="font-size: x-small;">Middle Eocene (15 m thick shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">3 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Very good oil source; Type I organic matter. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="34" width="234"><span style="font-size: x-small;">Upper Cretaceous, Yesomma shale </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">5 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil and gas source; Type II; Genetic Potential = 8 kg/ton. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Daghani shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.53- 1.18 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair oil and gas source; Type II/III organic matter; thin shale (6 m); Type I/II organic matter. </span></td></tr>
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<b><span style="font-size: x-small;">Thermal maturation and migration </span></b></div>
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<span style="font-size: x-small;">Maturity levels of the source rocks vary from early to post-mature (Table 1). The Jurassic units (Gahodleh and Daghani shales), and possibly the Eocene units in the offshore areas, which may contain multiple source sequences, are situated within the oil window and are highly prospective for oil and gas. In addition, thermal modelling of the Gulf of Aden has identified a number of offshore kitchen areas that have excellent source potential (Bott et al., 1992). Furthermore, seismic and well data suggest both structural migration and strati-graphic migration are operative in these locations (Fig. 6). However, in general the potential Oligocene-Miocene source rocks are likely to be immature to early-mature for the majority of the onshore areas.</span></div>
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<span style="font-size: x-small;"><b>Reservoir rocks</b></span></div>
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<span style="font-size: x-small;">The sedimentary strata of Somaliland contain numerous reservoirs within the pre-syn- and post-rift rocks of the Gulf of Aden. Reservoir rocks for the pre-rift sequence include both carbonates (Eocene and Cretaceous-Jurassic) and sandstones (Cretaceous and basal Jurassic). Reservoir rocks in syn- and post-rift sequences are principally sandstones with secondary carbonate reservoirs.</span></div>
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<span style="font-size: x-small;"><i>Jurassic</i></span></div>
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<span style="font-size: x-small;">Two onshore wells, Dagah Shabel-2 and Biyo Dader-1, intersected 191 m and 160 m of sandstones in the Adigrat respectively. Porosity of the sandstones was variable, but as high as 15%. At Dagah Shabel-2 they produced fresh water. The reservoir potential of the Middle-Upper Jurassic deposits of Bihen, Wandere, and Gawan limestones is also good.</span></div>
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<i><span style="font-size: x-small;">Cretaceous</span></i></div>
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<span style="font-size: x-small;">In the Upper Cretaceous, good clastic reservoirs have been recognized. Dagah Shabel-1 well intersected very thick (790 m) fine to coarse-graded fluvial sands of the Nubian (Yesomma) formation. The well encountered two highly porous sand units where small quantities (four barrels) of good quality (33.6° API) oil were recovered. In the offshore, the Bandar Harshau-1 well penetrated 536 m of Upper Cretaceous sediments of restricted shallow marine environment that had porosities of up to 14%.</span></div>
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<span style="font-size: x-small;"><i>Tertiary (Eocene-Oligocene)</i></span><br />
<span style="font-size: x-small;">Clastics and carbonates of Eocene-Oligocene age also offer reservoir possibilities in syn- and post-rift traps. In the offshore, the Dab Qua-1 well penetrated a total of 183 m of Auradu limestone that have oil shows. Bandar Harshau-1 well also had minor oil and gas shows.</span></div>
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<span style="font-size: x-small;"><b>Traps</b></span></div>
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<span style="font-size: x-small;">In Somaliland, there is no evidence of large-scale compressive folding like that of north-eastern Arabia. However, at many localities in the country, minor folds are known to occur which are believed to have been caused either by rejuvenation of old fault blocks or drag along major faults parallel to the Gulf of Aden. Such folds are mainly confined to the Guban region where the intensity of the faulting has been very much greater than in the plateau. One such example is the minor folds recorded in the Dagah Shabel district, close to the Dagah Shabel fault. </span></div>
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<b><span style="font-size: xx-small;">Figure 6 </span></b><span style="font-size: xx-small;"><i>Idealized north-south cross section of Biyo Darer area showing the elements of the petroleum systems. The dia gram depicts three potential migration scenarios: (1) Vertical migration from potential Jurassic source rocks into overlying Cretaceous Nubian formation, (2) Lateral migration from Jurassic source rocks into overlying Jurassic reservoirs, (3) Lateral migration from Jurassic source rocks into underlying Lower Jurassic Adigrat formation.</i></span></div>
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<span style="font-size: x-small;"><span style="font-size: x-small;">As a result the primary structural traps in the country are rollover anticlines associated with major growth faults that become listric above the pre-rift section. Stratigraphic traps are also important, particularly in the offshore areas where thick </span>successions of Jurassic and Cretaceous sediments were eroded. The seismic profile across the Dagah Shabel and Daban basin, as seen in Fig. 7, provides a sample of the type and density of structures present in the area. The figure illustrates the trapping styles in the area. In addition, the general magnitude of area of uplift of some of the structures might be a guide to possible structural size.</span><br />
<span style="font-size: x-small;"><b>Seals</b></span><br />
<span style="font-size: x-small;">The country has ideal conditions for seal development. Seals are constituted principally by interbedded shales for the Jurassic and Cretaceous sequences, with Eocene anhydrites also forming a regional seal. For the syn-rift sequence of Gulf of Aden Oligocene, anhydrites and interbedded shales are the main seals.</span><br />
<span style="font-size: x-small;"><b>Comparison with Yemen</b></span><br />
<span style="font-size: x-small;">The geology of Yemen shows many similarities with Somaliland. This can be supported by reconstructing the Arabian plate to the position before the opening of the Gulf of Aden when many basins in southern Yemen seem to extend to Somaliland. For example, the Balhaf graben appears to be a continuation of the Berbera basin, and Masila basin appears to be a continuation of Al Mado basin (Fig. 1). As in the case of the Jurassic basins in Somaliland, drilling within the Balhaf and Masila grabens have indicated the majority of basin infills are Jurassic and Cretaceous in age. Furthermore, significant accumulations of oil and gas have been found in Jurassic grabens in Yemen including the Masila basin. Therefore, exploration interest to date in Somaliland has centred on searching for Jurassic rifts similar to those in Yemen.</span></div>
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<span style="font-size: xx-small;">Figure 7 Regional seismic profile crossing Dagah Shabel and Daban basin illustrating a graben structure of the Oligocene-Miocene units and the overall structural style of the area.</span></div>
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<span style="font-size: x-small;"><b>Conclusions</b></span><br />
<span style="font-size: x-small;">The available well, seismic, and outcrop data show that the potential for commercial accumulations of hydrocarbons in Somaliland is good. These data show that the hydrocarbons may have accumulated in numerous large tilted fault-blocks and isolated sub-basins. Jurassic rift basins form the main exploration plays. Secondary exploration targets include Oligocene-Miocene rift sequence of the Gulf of Aden together with underlying pre-rift Eocene carbonates. Hence, favourable hydrocarbon plays could exist over many thousands of untested square kilometres along the entire north coast and south-east of the country at various drilling depths. However, much more exploration work and exploratory drilling activities are needed especially in the basins adjacent to the Gulf of Aden to determine whether Oligocene-Miocene successions are mature.</span><br />
<span style="font-size: x-small;"><b>Acknowledgements</b></span><br />
<span style="font-size: x-small;">The author wishes to thank Abdirahman Yusuf and the Somaliland Ministry of Minerals and Water Resources for providing the seismic data, evaluation of source rocks, and supporting his visit to Somaliland in July 2005. He also wishes to thank the Petroleum Institute (Abu Dhabi) for supporting this work.<br /><br /><br /><i>*The Petroleum Institute, PO Box 2533, Abu Dhabi, UAE. E-mail: <a href="mailto:mali@pi.ac.ae">mali@pi.ac.ae</a></i></span><br />
<span style="font-size: x-small;"><b>References</b></span><br />
<span style="font-size: x-small;">Abbate, E. Sagri, M. and Sassi, F.P. [1993] Geology and mineral resources of Somalia and surrounding regions (with a geological map of Somalia 1:1.500.000). In Abbate, E., Sagri, M., and Sassi, F.P. (Eds) <i>1st Intern. Meeting on the Geology of Somalia and Surrounding Regions (GEOSOM 87), Florence.</i> </span><br />
<span style="font-size: x-small;">Ali, M.Y. [2005] Petroleum geology and hydrocarbon potential of Somaliland. <i>67th EAGE Annual Meeting</i>, Extended Abstracts, 283. </span><br />
<span style="font-size: x-small;">Bosellini, A. [1992] The continental margins of Somalia. Geology and geophysics of continental margins. I<i>n Watkins</i>, J.S., Zhiqiang, F., and McMillen, K.J. (Eds.).<i> Am. Assoc.</i> Petrol. Geol. Mem. 53, 185-205. Tulsa, Oklahoma. </span><br />
<span style="font-size: x-small;">Bott, W.F., Smith, B.A., Oakes, G., Sikander, A.H., and Ibrahim, A.I. [1992] The tectonic framework and regional hydrocarbon prospectively of the Gulf of Aden.<i> Journal of Petroleum Geology</i>, 15, 2, 211-243. </span><br />
<span style="font-size: x-small;">MacFadyen, W.A. [1933] <i>Geology of Somaliland.</i> Government of the Somaliland protectorate. </span><br />
<span style="font-size: x-small;">Smith, W. H. F. and Sandwell D. T. [1997] Global seafloor topography from satellite altimetry and ship depth soundings. </span><span style="font-size: x-small;"><i>Science</i>, 277, 1957-1962.</span><br />
<i><span style="font-size: x-small;">Source: First published in first break volume 24, August 2006, © 2006 EAGE</span></i><br />
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<b><span style="color: #ff9933; font-size: x-small;"><i><span style="color: #999999;">Article layout, text & images formated for Somaliland Times by Rashid M X Noor.</span></i></span></b><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
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<tr><td class="Normal" height="75" width="515"><b>M. Y. Ali* </b></td></tr>
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<tr><td class="style1" width="808"><b><span style="font-size: x-small;">Introduction</span></b><br />
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<span style="font-size: x-small;">Somaliland (Northern Somalia) is situated on the northern side of the Horn of Africa with the Gulf of Aden to the north, Somalia to the east, Ethiopia to the south and west, and Djibouti to the north-west (Fig.1). The morphology of the country is typical of areas in extension, with basins and mountains of up to 2000 m. There is little folding, but much normal faulting, some of which has very great throws. These strong vertical movements have controlled the accommodation space available for sediment deposition since the Lower Jurassic.</span></div>
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<span style="font-size: x-small;">To date there have only been 21 wells drilled in Somaliland (19 onshore and two offshore), many of which were only stratigraphic tests (Fig. 2). In fact few of the wells evaluated the hydrocarbon potential of the country and the type of prospects in the drilled basins. In addition, modern seismic reflection surveying has had very limited application in Somaliland. Therefore, many prospective petroleum systems in the onshore and offshore regions of the country remain relatively unexplored. </span></div>
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<span style="font-size: x-small;">In this paper, seismic, well, and outcrop data have been used to determine the petroleum systems of Somaliland. These data demonstrate that the country has favourable stratigraphy, structure, oil shows, and hydrocarbon source rocks. In addition, the results show that the Upper Jurassic and Cretaceous units, and possibly Oligocene-Miocene units, show potential for hydrocarbon generation. Traps are provided by rollover anticlines associated with listric growth faults and rotated basement faults which are controlled by Upper Jurassic to Lower Cretaceous tensional stresses. </span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><img height="519" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/f1.jpg" width="412" /></span> <b><span style="font-size: xx-small;">Figure 1</span></b><span style="font-size: xx-small;"><i>a) General location map of Somaliland in global context; b) Map of Somaliland and surrounding regions showing transform faults of the Gulf of Aden and the conjugate basins. Topography data is based on Shuttle Radar Topography Mission (SRTM) data. Bathymetry is based on satellite derived data (Smith and Sandwell, 1997). Also shown are cities mentioned in the text. </i></span></div>
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<span style="font-size: x-small;">The sedimentary section of Somaliland can be divided into four parts (Fig. 2):</span></div>
<span style="font-size: x-small;"><i>Jurassic rift sequences</i></span> <br />
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<span style="font-size: x-small;">The Jurassic deposits in Somaliland consist of a thick sequence of continental deposits (basal sandstone formation) resting directly on the peneplain basement rocks and over lain by a succession of limestones (Bihendula group) generally with some marl and shale intervals. Jurassic sediments were deposited in NW-SE trending grabens (e.g., Bihendula graben) that were formed as a result of tensional forces associated with the rifting of India from Africa.</span></div>
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<span style="font-size: x-small;">The Jurassic outcrop at Bihendula, 35 km south of Berbera, was the first to be recognized in the country and has since been the most extensively studied. It is where the greatest thickness (more than 1200 m) of fossiliferous marine Jurassic beds are exposed in the country.</span></div>
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<span style="font-size: x-small;"><i>Cretaceous sequences</i></span></div>
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<span style="font-size: x-small;">The Cretaceous sedimentation of Somaliland is characterized by lateral lithologic variability resulting from transgressing seas from the east. As a consequence, thick carbonate and shale sections were deposited in the eastern part of the country and equally thick sequences of sandstones were deposited in the west. The widely used term 'Nubian sandstone' has been applied by several workers to describe the entire Cretaceous clastic sequences seen in outcrop (MacFadyen, 1933). However, some authors (Bosellini, 1992) divided the Cretaceous into Yesomma sandstone and Tisje carbonates, although it is difficult to distinguish the different formations due to the transitional nature of the interfingering clastic and carbonate facies.</span></div>
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<span style="font-size: x-small;"><i>Eocene sequences</i></span><br />
<span style="font-size: x-small;">Eocene deposits of Somaliland consist of massive limestones of Auradu and Karkar formations separated by massive to banded gypsum and anhydrites. This is the result of Eocene seas transgressing from the east depositing Auradu lime stones. Periodic regression in the Middle Eocene resulted in evaporatic conditions, which led to the deposition of the Anhydrite (Taleh) series. Further transgression in the Upper Eocene caused the deposition of marine cherty limestone of Karkar formation.</span></div>
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<b><span style="font-size: xx-small;">Figure 2</span></b><span style="font-size: xx-small;"><i> Simplified geological map of Somaliland (modified from Abbate et al., 1993) showing positions of oil wells drilled and major sedimentary basins in the country Legend of wells are: (1) Zeila-I, (2) Zeila-2, (3) Zeila-3, (4) Zeila-4, (5) Heemal-l (6) Berbera-1, (7) Dagah Shabel-1, (8) Dagah Shabel-2, (9) Dagah Shabel-3, (10) Biyo Dader-1, (11) Las Dureh-I (12) Bur Dab-I, (13) Yaguri-I, (14) Las Anod-1, (15) Burhisso-1, (16) Nogal-1 (17) Faro Hills-I, (18) Hedad-1, (19) Buran-1 (20) Dab Qua-I, and (21) Bandar Harshau-1. Also shown are concessions held by various oil companies in the early I990s and the location of the seismic profile in Fig. 7.</i></span></div>
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<span style="font-size: xx-small;">Figure 3 <i>General stratigraphic column of Somaliland showing essential petroleum systems in the country</i></span><span style="font-size: xx-small;"><i>.</i></span></div>
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<span style="font-size: x-small;"><i>Oligocene-Miocene rift sequences</i></span><br />
<span style="font-size: x-small;">Oligocene and Miocene sediments are mostly restricted to narrow and isolated sub-basins along the coastal belt border ing the Gulf of Aden, occasionally extending inland in low lying regions. They deposited in localized grabens caused by the rifting of the Gulf of Aden. They consist of a thick (up to 2500 m) syn-rift sequence of red-brown, green sand, silts, and gypsiferous sandstone. These sediments are almost entirely terrigenous deposited in lagoon, delta, and alluvial environments. The best outcrops of Oligocene-Miocene sediments occur in Daban basin (south-east of Berbera) which is a down-faulted rotated block bordering the Somaliland plateau (Fig. 2). </span><br />
<span style="font-size: x-small;">A summary of the stratigraphy of Somaliland is given in Fig. 3. This figure shows the major formations, general thicknesses, and known occurrences of oil shows in these rocks.</span></div>
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<span style="font-size: xx-small;"><b>Figure 4.</b> <span class="SpellE">Gahodleh</span> shale, <span class="SpellE">Bihendula</span> area, south of <span class="SpellE">Berbera</span></span></div>
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<span style="font-size: x-small;"><b>Exploration history</b></span></div>
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<span style="font-size: x-small;"><span class="SpellE">Petroleum</span> exploration in the country began in 1912 when an oil seep at <span class="SpellE">Dagah</span> <span class="SpellE">Shabel</span>, 38 km south-east of <span class="SpellE">Berbera</span>, was reported. In 1959 Standard </span><span style="font-size: x-small;">Vacuum (Mobil and Esso) drilled three dry wells (Dagah Shabel-1, -2, and -3) near the Dagah Shabel oil seep, without the aid of subsurface control. One of the wells recovered free oil from the Wanderer limestone (Upper Jurassic) and Nubian sandstone (Upper Cretaceous). However, no oil was recovered from the follow-up wells.</span></div>
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<span style="font-size: x-small;">Interest in oil exploration recommenced in the late 1970s and, in 1980, GECO conducted an extensive offshore speculative seismic survey in the Gulf of Aden for the Somali government. In the same year a vast concession known as the Guban concession was awarded to a consortium consisting of two oil companies, the Quintana Oil Company and Hunt Oil Company. </span><span style="font-size: x-small;">They conducted a detail exploration programme which included an aeromagnetic survey and a seismic programme over onshore blocks 32 and 35. However, after two years they relinquished the concession.</span></div>
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<span style="font-size: x-small;">Exploration interest in the country intensified in the mid 1980s during which most of the concessions were awarded to different oil companies (Fig. 2). The Hunt and Quintana concession was divided into two with one part awarded to Chevron and the other to a partnership of Amoco and International Petroleum Corporation. Phillips and Agip also held concessions in the country. Shell was awarded an offshore concession which encompassed most of the Gulf of Aden coastline. However, it relinquished that in 1984 after the failure of two wells (Bandar Harshau-1 and Dab Qua-1), although oil shows were encountered in pre-rift Eocene carbonates and post-rift clastics. The two wells were drilled in block M-10 in water depths of around 300 m.</span></div>
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<span style="font-size: x-small;">All of the oil companies operating in the country at the time including Amoco, Chevron, Agip, and Conoco declared <i>force majeure </i>on 11 July, 1989 due to continued civil unrest.</span></div>
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<span style="font-size: x-small;"><b>Hydrocarbon plays </b></span></div>
<span style="font-size: x-small;">The most compelling evidence that oil and gas accumulations may exist in Somaliland, as illustrated in Figs. 4-7, include:</span> <br />
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<li><span style="font-size: x-small;">Occurrence of oil seeps at Dagah Shabel. </span></li>
<li><span style="font-size: x-small;">Very good oil shows from several zones in most of the wells drilled including Dagah Shabel wells, Biyo Darer-1, Bandar Harshau-1, and Dab Qua-1.</span></li>
<li><span style="font-size: x-small;">Occurrence of mature oil-prone source beds with sufficient levels of organic carbon, together with potential reservoir rocks and structures in a variety of geological settings. </span></li>
<li><span style="font-size: x-small;">A number of Jurassic rift basins as well as Oligocene- Miocene sedimentary basins. These include Berbera/Guban (conjugate of Balhaf basin, Yemen), Daban, Las Dureh, Raguda, Al Mado (conjugate of the Masilah basin in Yemen ), and Nogal basins.</span></li>
<li><span style="font-size: x-small;">Widespread and appreciable thickness of porous and permeable reservoir rocks together with sealing rocks of Jurassic, Cretaceous, and Tertiary in age. </span></li>
<li><span style="font-size: x-small;">Evidence of structural growth during Jurassic, Cretaceous, and Tertiary times, which resulted in the formation of structural and stratigraphic traps. </span></li>
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<span style="font-size: x-small;">The lack of success in the early exploration wells drilled in Somaliland is primarily due to the complexity of the</span> <span style="font-size: x-small;">subsurface geology, and the lack of subsurface control by seismic data. Somaliland is a region of relatively abrupt lateral changes of stratigraphy that is related to the rifting and differential vertical movement during Mesozoic and Tertiary times (Ali, 2005). From post-drill analysis of the failed wells, the majority were as a result of poorly defined trap, thin, or absent reservoir, or due to the seal being either thin or absent. In addition, several of the wells were almost certainly stratigraphic tests. These include Zaila-1, Zaila-2, Las Dureh-1, and Dagah Shabel-3.</span></div>
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<span style="font-size: x-small;">The country contains several good quality source rocks which have potential for hydrocarbon generation (Table 1).</span> </div>
<span style="font-size: x-small;"><i>Jurassic</i></span> <br />
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<span style="font-size: x-small;"><i><span style="font-family: Arial, Helvetica, sans-serif;"></span></i>Numerous excellent quality source rocks of Jurassic age are known in outcrops along the coastal margin, including Bihendula area. Gahodleh and Daghani shales are the most important source rocks in the area (Fig. 4). Field investigations in Bihendula area (during July 2005) demonstrated that the Jurassic formations extend approximately 10 km along an east-west striking sequence of limestone ridges and shale valleys that dip generally south at about 17° (Fig. 5). The shales are dark to medium gray kerogen-rich fossiliferous claystones that have fine texture (Fig. 4). It is likely, therefore, that these shales have played an important part in the generation of hydrocarbon in the area. The 28 barrels of 32.2° API oil recovered from the Wanderer limestone in the Dagah Shabel-1 well supports this suggestion. Offshore wells have also indicated good source rocks of Jurassic age. For example, Dab Qua-1 well intersected shales of Daghani formation that had TOCs in the range of 0.53-1.18%.</span></div>
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<span style="font-size: x-small;">The results of the hydrocarbon source potential evaluation are summarized in Table 1. As indicated in the table, the composition of the kerogen in samples of Gahodleh and Daghani shales is primarily amorphous (Type I), which are algal remains that have greatest oil source potential.</span></div>
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<span style="font-size: xx-small;">Figure 5 <i>Southerly dipping Jurassic sequence of Gawan limestone overlying Daghani shale, Bihendula area.</i></span></div>
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<span style="font-size: x-small;"><i>Cretaceous</i></span><br />
<span style="font-size: x-small;">The Upper Cretaceous shales of Yesomma formation contain fair to good source potential. In both the Bandar Harshau-1and Dab Qua-1 wells, shales in the Yesomma formation had shown good source potential with TOC up to 5%.</span><br />
<span style="font-size: x-small;"><i>Eocene-Oligocene</i></span><br />
<span style="font-size: x-small;">The offshore well of Dab Qua-1 encountered a very good potential source rock of 15 m thick and TOC of 3%. In addition, good potential source rocks which had TOC of 11.3% outcrop in the Daban basin, although the succession is immature.</span></div>
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<tr><td class="Normal" height="667" valign="middle" width="727"><span style="font-size: x-small;"><b>Table 1</b> <i>Potential source rocks in Somaliland.</i></span> <br />
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<tr bgcolor="#0066cc"><td class="Normal" height="21" width="234"><span style="color: white; font-size: x-small;"><b>Age and Unit </b></span></td><td class="Normal" width="149"><span style="color: white; font-size: x-small;"><b>Sample Type </b></span></td><td class="Normal" width="73"><span style="color: white; font-size: x-small;"><b>TOC (%) </b></span></td><td class="Normal" width="253"><span style="color: white; font-size: x-small;"><b>Comments </b></span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="color: black; font-size: x-small;"><b>Bihendula </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="52" width="234"><span style="font-size: x-small;">Jurassic ( Upper Daghani shale)</span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">2.01 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil source; Type = Amorphous algal; Hydrogen Index = 537 mg/g; Genetic Potential = 11.47 kg/ton; Vitrinite Reflectance = 0.5-1.0. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Gahodleh shale)</span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.43 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair oil source; Hydrogen Index = 434 mg/g; Genetic Potential = 6.76 kg/ton; Vitrinite Reflectance = 0.4-0.9. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Dagah Shabel </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Calcareous shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dagah Shabel cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.75 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil source; Type = Amorphous algal; HC/Non HC = 0.57; Vitrinite Reflectance = 0.6. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Daghani shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dagah Shabel cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.46 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair to good source for condensate and gas; Type = Amorphous; HC/Non HC = 0.44. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Daban Basin</b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="47" width="234"><span style="font-size: x-small;">Eocene/Oligocene (Lignite from <br />lower Daban Series) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Outcrop </span></td><td class="Normal" width="73"><span style="font-size: x-small;">11.3 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Potential gas; immature; Hydrogen Index = 104 mg/g; Genetic Potential = 12.17 kg/ton; Vitrinite Reflectance = 0.4. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Bandar Harshau-1 </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="47" width="234"><span style="font-size: x-small;">Upper Miocene (syn-rift shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (650 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.92 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Potential gas and oil; immature, Hydrogen Index = 268 mg/g; Genetic Potential = 5.41 kg/ton; No Vitrinite Reflectance. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="48" width="234"><span style="font-size: x-small;">Upper Cretaceous (Yesomma shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2271 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">3.26 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Overmature; Hydrogen Index = 17 mg/g; Genetic Potential = 0.84 kg/ton; Vitrinite Reflectance = 1.0; Type II/III organic matter. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="37" width="234"><span style="font-size: x-small;">Cretaceous (shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2268 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.1 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Hydrogen Index = 35 mg/g; Genetic Potential = 0.48 kg/ton. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Lower Cretaceous (shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Bandar Harshau-1 <br />cuttings (2376 m) </span></td><td class="Normal" width="73"><span style="font-size: x-small;">1.26 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Hydrogen Index = 21 mg/g; Genetic Potential = 0.35 kg/ton; Type III organic matter. </span></td></tr>
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<tr><td bgcolor="#00ccff" class="Normal" height="18" width="721"><span style="font-size: x-small;"><b>Dab Qua-1 </b></span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="21" width="234"><span style="font-size: x-small;">Middle Eocene (15 m thick shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">3 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Very good oil source; Type I organic matter. </span></td></tr>
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<tr bgcolor="#ffbf55" valign="top"><td class="Normal" height="34" width="234"><span style="font-size: x-small;">Upper Cretaceous, Yesomma shale </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">5 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Good oil and gas source; Type II; Genetic Potential = 8 kg/ton. </span></td></tr>
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<tr bgcolor="#ffdfaa" valign="top"><td class="Normal" height="32" width="234"><span style="font-size: x-small;">Jurassic (Daghani shale) </span></td><td class="Normal" width="149"><span style="font-size: x-small;">Dab Qua-1 cuttings </span></td><td class="Normal" width="73"><span style="font-size: x-small;">0.53- 1.18 </span></td><td class="Normal" width="253"><span style="font-size: x-small;">Fair oil and gas source; Type II/III organic matter; thin shale (6 m); Type I/II organic matter. </span></td></tr>
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<b><span style="font-size: x-small;">Thermal maturation and migration </span></b></div>
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<span style="font-size: x-small;">Maturity levels of the source rocks vary from early to post-mature (Table 1). The Jurassic units (Gahodleh and Daghani shales), and possibly the Eocene units in the offshore areas, which may contain multiple source sequences, are situated within the oil window and are highly prospective for oil and gas. In addition, thermal modelling of the Gulf of Aden has identified a number of offshore kitchen areas that have excellent source potential (Bott et al., 1992). Furthermore, seismic and well data suggest both structural migration and strati-graphic migration are operative in these locations (Fig. 6). However, in general the potential Oligocene-Miocene source rocks are likely to be immature to early-mature for the majority of the onshore areas.</span></div>
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<span style="font-size: x-small;"><b>Reservoir rocks</b></span></div>
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<span style="font-size: x-small;">The sedimentary strata of Somaliland contain numerous reservoirs within the pre-syn- and post-rift rocks of the Gulf of Aden. Reservoir rocks for the pre-rift sequence include both carbonates (Eocene and Cretaceous-Jurassic) and sandstones (Cretaceous and basal Jurassic). Reservoir rocks in syn- and post-rift sequences are principally sandstones with secondary carbonate reservoirs.</span></div>
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<span style="font-size: x-small;"><i>Jurassic</i></span></div>
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<span style="font-size: x-small;">Two onshore wells, Dagah Shabel-2 and Biyo Dader-1, intersected 191 m and 160 m of sandstones in the Adigrat respectively. Porosity of the sandstones was variable, but as high as 15%. At Dagah Shabel-2 they produced fresh water. The reservoir potential of the Middle-Upper Jurassic deposits of Bihen, Wandere, and Gawan limestones is also good.</span></div>
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<i><span style="font-size: x-small;">Cretaceous</span></i></div>
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<span style="font-size: x-small;">In the Upper Cretaceous, good clastic reservoirs have been recognized. Dagah Shabel-1 well intersected very thick (790 m) fine to coarse-graded fluvial sands of the Nubian (Yesomma) formation. The well encountered two highly porous sand units where small quantities (four barrels) of good quality (33.6° API) oil were recovered. In the offshore, the Bandar Harshau-1 well penetrated 536 m of Upper Cretaceous sediments of restricted shallow marine environment that had porosities of up to 14%.</span></div>
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<span style="font-size: x-small;"><i>Tertiary (Eocene-Oligocene)</i></span><br />
<span style="font-size: x-small;">Clastics and carbonates of Eocene-Oligocene age also offer reservoir possibilities in syn- and post-rift traps. In the offshore, the Dab Qua-1 well penetrated a total of 183 m of Auradu limestone that have oil shows. Bandar Harshau-1 well also had minor oil and gas shows.</span></div>
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<span style="font-size: x-small;"><b>Traps</b></span></div>
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<span style="font-size: x-small;">In Somaliland, there is no evidence of large-scale compressive folding like that of north-eastern Arabia. However, at many localities in the country, minor folds are known to occur which are believed to have been caused either by rejuvenation of old fault blocks or drag along major faults parallel to the Gulf of Aden. Such folds are mainly confined to the Guban region where the intensity of the faulting has been very much greater than in the plateau. One such example is the minor folds recorded in the Dagah Shabel district, close to the Dagah Shabel fault. </span></div>
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<b><span style="font-size: xx-small;">Figure 6 </span></b><span style="font-size: xx-small;"><i>Idealized north-south cross section of Biyo Darer area showing the elements of the petroleum systems. The dia gram depicts three potential migration scenarios: (1) Vertical migration from potential Jurassic source rocks into overlying Cretaceous Nubian formation, (2) Lateral migration from Jurassic source rocks into overlying Jurassic reservoirs, (3) Lateral migration from Jurassic source rocks into underlying Lower Jurassic Adigrat formation.</i></span></div>
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<span style="font-size: x-small;"><span style="font-size: x-small;">As a result the primary structural traps in the country are rollover anticlines associated with major growth faults that become listric above the pre-rift section. Stratigraphic traps are also important, particularly in the offshore areas where thick </span>successions of Jurassic and Cretaceous sediments were eroded. The seismic profile across the Dagah Shabel and Daban basin, as seen in Fig. 7, provides a sample of the type and density of structures present in the area. The figure illustrates the trapping styles in the area. In addition, the general magnitude of area of uplift of some of the structures might be a guide to possible structural size.</span><br />
<span style="font-size: x-small;"><b>Seals</b></span><br />
<span style="font-size: x-small;">The country has ideal conditions for seal development. Seals are constituted principally by interbedded shales for the Jurassic and Cretaceous sequences, with Eocene anhydrites also forming a regional seal. For the syn-rift sequence of Gulf of Aden Oligocene, anhydrites and interbedded shales are the main seals.</span><br />
<span style="font-size: x-small;"><b>Comparison with Yemen</b></span><br />
<span style="font-size: x-small;">The geology of Yemen shows many similarities with Somaliland. This can be supported by reconstructing the Arabian plate to the position before the opening of the Gulf of Aden when many basins in southern Yemen seem to extend to Somaliland. For example, the Balhaf graben appears to be a continuation of the Berbera basin, and Masila basin appears to be a continuation of Al Mado basin (Fig. 1). As in the case of the Jurassic basins in Somaliland, drilling within the Balhaf and Masila grabens have indicated the majority of basin infills are Jurassic and Cretaceous in age. Furthermore, significant accumulations of oil and gas have been found in Jurassic grabens in Yemen including the Masila basin. Therefore, exploration interest to date in Somaliland has centred on searching for Jurassic rifts similar to those in Yemen.</span></div>
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<img height="369" src="http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/Fig12.jpg" width="643" /></div>
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<span style="font-size: xx-small;">Figure 7 Regional seismic profile crossing Dagah Shabel and Daban basin illustrating a graben structure of the Oligocene-Miocene units and the overall structural style of the area.</span></div>
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<span style="font-size: x-small;"><b>Conclusions</b></span><br />
<span style="font-size: x-small;">The available well, seismic, and outcrop data show that the potential for commercial accumulations of hydrocarbons in Somaliland is good. These data show that the hydrocarbons may have accumulated in numerous large tilted fault-blocks and isolated sub-basins. Jurassic rift basins form the main exploration plays. Secondary exploration targets include Oligocene-Miocene rift sequence of the Gulf of Aden together with underlying pre-rift Eocene carbonates. Hence, favourable hydrocarbon plays could exist over many thousands of untested square kilometres along the entire north coast and south-east of the country at various drilling depths. However, much more exploration work and exploratory drilling activities are needed especially in the basins adjacent to the Gulf of Aden to determine whether Oligocene-Miocene successions are mature.</span><br />
<span style="font-size: x-small;"><b>Acknowledgements</b></span><br />
<span style="font-size: x-small;">The author wishes to thank Abdirahman Yusuf and the Somaliland Ministry of Minerals and Water Resources for providing the seismic data, evaluation of source rocks, and supporting his visit to Somaliland in July 2005. He also wishes to thank the Petroleum Institute (Abu Dhabi) for supporting this work.<br /><br /><br /><i>*The Petroleum Institute, PO Box 2533, Abu Dhabi, UAE. E-mail: <a href="mailto:mali@pi.ac.ae">mali@pi.ac.ae</a></i></span><br />
<span style="font-size: x-small;"><b>References</b></span><br />
<span style="font-size: x-small;">Abbate, E. Sagri, M. and Sassi, F.P. [1993] Geology and mineral resources of Somalia and surrounding regions (with a geological map of Somalia 1:1.500.000). In Abbate, E., Sagri, M., and Sassi, F.P. (Eds) <i>1st Intern. Meeting on the Geology of Somalia and Surrounding Regions (GEOSOM 87), Florence.</i> </span><br />
<span style="font-size: x-small;">Ali, M.Y. [2005] Petroleum geology and hydrocarbon potential of Somaliland. <i>67th EAGE Annual Meeting</i>, Extended Abstracts, 283. </span><br />
<span style="font-size: x-small;">Bosellini, A. [1992] The continental margins of Somalia. Geology and geophysics of continental margins. I<i>n Watkins</i>, J.S., Zhiqiang, F., and McMillen, K.J. (Eds.).<i> Am. Assoc.</i> Petrol. Geol. Mem. 53, 185-205. Tulsa, Oklahoma. </span><br />
<span style="font-size: x-small;">Bott, W.F., Smith, B.A., Oakes, G., Sikander, A.H., and Ibrahim, A.I. [1992] The tectonic framework and regional hydrocarbon prospectively of the Gulf of Aden.<i> Journal of Petroleum Geology</i>, 15, 2, 211-243. </span><br />
<span style="font-size: x-small;">MacFadyen, W.A. [1933] <i>Geology of Somaliland.</i> Government of the Somaliland protectorate. </span><br />
<span style="font-size: x-small;">Smith, W. H. F. and Sandwell D. T. [1997] Global seafloor topography from satellite altimetry and ship depth soundings. </span><span style="font-size: x-small;"><i>Science</i>, 277, 1957-1962.</span><br />
<i><span style="font-size: x-small;">Source: First published in first break volume 24, August 2006, © 2006 EAGE</span></i><br />
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<b><span style="color: #ff9933; font-size: x-small;"><i><span style="color: #999999;">Article layout, text & images formated for Somaliland Times by Rashid M X Noor.</span></i></span></b><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
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<b><span style="color: #0092ff; font-family: "Arial", "sans-serif"; font-size: 20pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Hydrocarbon potential of Somaliland </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">M. Y. Ali* </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Introduction</span></b><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Somaliland (Northern Somalia) is situated on the northern side of the Horn of Africa with the Gulf of Aden to the north, Somalia to the east, Ethiopia to the south and west, and Djibouti to the north-west (Fig.1). The morphology of the country is typical of areas in extension, with basins and mountains of up to 2000 m. There is little folding, but much normal faulting, some of which has very great throws. These strong vertical movements have controlled the accommodation space available for sediment deposition since the Lower Jurassic.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">To date there have only been 21 wells drilled in Somaliland (19 onshore and two offshore), many of which were only stratigraphic tests (Fig. 2). In fact few of the wells evaluated the hydrocarbon potential of the country and the type of prospects in the drilled basins. In addition, modern seismic reflection surveying has had very limited application in Somaliland. Therefore, many prospective petroleum systems in the onshore and offshore regions of the country remain relatively unexplored. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">In this paper, seismic, well, and outcrop data have been used to determine the petroleum systems of Somaliland. These data demonstrate that the country has favourable stratigraphy, structure, oil shows, and hydrocarbon source rocks. In addition, the results show that the Upper Jurassic and Cretaceous units, and possibly Oligocene-Miocene units, show potential for hydrocarbon generation. Traps are provided by rollover anticlines associated with listric growth faults and rotated basement faults which are controlled by Upper Jurassic to Lower Cretaceous tensional stresses. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB; mso-no-proof: yes;"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"><stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><shape alt="Description: http://www.somalilandtimes.net/hydrocarbon_somaliland/somaliland_hydrocarbon_potential_files/f1.jpg" id="Picture_x0020_1" o:spid="_x0000_i1031" style="height: 389.4pt; mso-wrap-style: square; visibility: visible; width: 309pt;" type="#_x0000_t75"><imagedata o:title="f1" src="file:///C:\Users\M\AppData\Local\Temp\msohtmlclip1\01\clip_image001.jpg"></imagedata></shape></span><b><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 1</span></b><i><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">a) General location map of Somaliland in global context; b) Map of Somaliland and surrounding regions showing transform faults of the Gulf of Aden and the conjugate basins. Topography data is based on Shuttle Radar Topography Mission (SRTM) data. Bathymetry is based on satellite derived data (Smith and Sandwell, 1997). Also shown are cities mentioned in the text. </span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Stratigraphy and depositional setting</span></b><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The sedimentary section of Somaliland can be divided into four parts (Fig. 2):</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic rift sequences</span></i><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> </span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The Jurassic deposits in Somaliland consist of a thick sequence of continental deposits (basal sandstone formation) resting directly on the peneplain basement rocks and over lain by a succession of limestones (Bihendula group) generally with some marl and shale intervals. Jurassic sediments were deposited in NW-SE trending grabens (e.g., Bihendula graben) that were formed as a result of tensional forces associated with the rifting of India from Africa.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The Jurassic outcrop at Bihendula, 35 km south of Berbera, was the first to be recognized in the country and has since been the most extensively studied. It is where the greatest thickness (more than 1200 m) of fossiliferous marine Jurassic beds are exposed in the country.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Cretaceous sequences</span></i><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The Cretaceous sedimentation of Somaliland is characterized by lateral lithologic variability resulting from transgressing seas from the east. As a consequence, thick carbonate and shale sections were deposited in the eastern part of the country and equally thick sequences of sandstones were deposited in the west. The widely used term 'Nubian sandstone' has been applied by several workers to describe the entire Cretaceous clastic sequences seen in outcrop (MacFadyen, 1933). However, some authors (Bosellini, 1992) divided the Cretaceous into Yesomma sandstone and Tisje carbonates, although it is difficult to distinguish the different formations due to the transitional nature of the interfingering clastic and carbonate facies.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Eocene sequences</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Eocene deposits of Somaliland consist of massive limestones of Auradu and Karkar formations separated by massive to banded gypsum and anhydrites. This is the result of Eocene seas transgressing from the east depositing Auradu lime stones. Periodic regression in the Middle Eocene resulted in evaporatic conditions, which led to the deposition of the Anhydrite (Taleh) series. Further transgression in the Upper Eocene caused the deposition of marine cherty limestone of Karkar formation.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 2</span></b><i><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> Simplified geological map of Somaliland (modified from Abbate et al., 1993) showing positions of oil wells drilled and major sedimentary basins in the country Legend of wells are: (1) Zeila-I, (2) Zeila-2, (3) Zeila-3, (4) Zeila-4, (5) Heemal-l (6) Berbera-1, (7) Dagah Shabel-1, (8) Dagah Shabel-2, (9) Dagah Shabel-3, (10) Biyo Dader-1, (11) Las Dureh-I (12) Bur Dab-I, (13) Yaguri-I, (14) Las Anod-1, (15) Burhisso-1, (16) Nogal-1 (17) Faro Hills-I, (18) Hedad-1, (19) Buran-1 (20) Dab Qua-I, and (21) Bandar Harshau-1. Also shown are concessions held by various oil companies in the early I990s and the location of the seismic profile in Fig. 7.</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 3 <i>General stratigraphic column of Somaliland showing essential petroleum systems in the country.</i></span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Oligocene-Miocene rift sequences</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Oligocene and Miocene sediments are mostly restricted to narrow and isolated sub-basins along the coastal belt border ing the Gulf of Aden, occasionally extending inland in low lying regions. They deposited in localized grabens caused by the rifting of the Gulf of Aden. They consist of a thick (up to 2500 m) syn-rift sequence of red-brown, green sand, silts, and gypsiferous sandstone. These sediments are almost entirely terrigenous deposited in lagoon, delta, and alluvial environments. The best outcrops of Oligocene-Miocene sediments occur in Daban basin (south-east of Berbera) which is a down-faulted rotated block bordering the Somaliland plateau (Fig. 2). </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">A summary of the stratigraphy of Somaliland is given in Fig. 3. This figure shows the major formations, general thicknesses, and known occurrences of oil shows in these rocks.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 4.</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> Gahodleh shale, Bihendula area, south of Berbera</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Exploration history</span></b><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Petroleum exploration in the country began in 1912 when an oil seep at Dagah Shabel, 38 km south-east of Berbera, was reported. In 1959 Standard Vacuum (Mobil and Esso) drilled three dry wells (Dagah Shabel-1, -2, and -3) near the Dagah Shabel oil seep, without the aid of subsurface control. One of the wells recovered free oil from the Wanderer limestone (Upper Jurassic) and Nubian sandstone (Upper Cretaceous). However, no oil was recovered from the follow-up wells.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Interest in oil exploration recommenced in the late 1970s and, in 1980, GECO conducted an extensive offshore speculative seismic survey in the Gulf of Aden for the Somali government. In the same year a vast concession known as the Guban concession was awarded to a consortium consisting of two oil companies, the Quintana Oil Company and Hunt Oil Company. They conducted a detail exploration programme which included an aeromagnetic survey and a seismic programme over onshore blocks 32 and 35. However, after two years they relinquished the concession.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Exploration interest in the country intensified in the mid 1980s during which most of the concessions were awarded to different oil companies (Fig. 2). The Hunt and Quintana concession was divided into two with one part awarded to Chevron and the other to a partnership of Amoco and International Petroleum Corporation. Phillips and Agip also held concessions in the country. Shell was awarded an offshore concession which encompassed most of the Gulf of Aden coastline. However, it relinquished that in 1984 after the failure of two wells (Bandar Harshau-1 and Dab Qua-1), although oil shows were encountered in pre-rift Eocene carbonates and post-rift clastics. The two wells were drilled in block M-10 in water depths of around 300 m.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">All of the oil companies operating in the country at the time including Amoco, Chevron, Agip, and Conoco declared <i>force majeure </i>on 11 July, 1989 due to continued civil unrest.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Hydrocarbon plays </span></b><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The most compelling evidence that oil and gas accumulations may exist in Somaliland, as illustrated in Figs. 4-7, include:</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> </span></div>
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<li class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt;"><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Occurrence of oil seeps at Dagah Shabel. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></li>
<li class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt;"><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Very good oil shows from several zones in most of the wells drilled including Dagah Shabel wells, Biyo Darer-1, Bandar Harshau-1, and Dab Qua-1.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></li>
<li class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt;"><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Occurrence of mature oil-prone source beds with sufficient levels of organic carbon, together with potential reservoir rocks and structures in a variety of geological settings. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></li>
<li class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt;"><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">A number of Jurassic rift basins as well as Oligocene- Miocene sedimentary basins. These include Berbera/Guban (conjugate of Balhaf basin, Yemen), Daban, Las Dureh, Raguda, Al Mado (conjugate of the Masilah basin in Yemen ), and Nogal basins.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></li>
<li class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt;"><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Widespread and appreciable thickness of porous and permeable reservoir rocks together with sealing rocks of Jurassic, Cretaceous, and Tertiary in age. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></li>
<li class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt;"><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Evidence of structural growth during Jurassic, Cretaceous, and Tertiary times, which resulted in the formation of structural and stratigraphic traps. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></li>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The lack of success in the early exploration wells drilled in Somaliland is primarily due to the complexity of the</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> </span><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">subsurface geology, and the lack of subsurface control by seismic data. Somaliland is a region of relatively abrupt lateral changes of stratigraphy that is related to the rifting and differential vertical movement during Mesozoic and Tertiary times (Ali, 2005). From post-drill analysis of the failed wells, the majority were as a result of poorly defined trap, thin, or absent reservoir, or due to the seal being either thin or absent. In addition, several of the wells were almost certainly stratigraphic tests. These include Zaila-1, Zaila-2, Las Dureh-1, and Dagah Shabel-3.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Source rock potential</span></b><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The country contains several good quality source rocks which have potential for hydrocarbon generation (Table 1).</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> </span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> </span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Numerous excellent quality source rocks of Jurassic age are known in outcrops along the coastal margin, including Bihendula area. Gahodleh and Daghani shales are the most important source rocks in the area (Fig. 4). Field investigations in Bihendula area (during July 2005) demonstrated that the Jurassic formations extend approximately 10 km along an east-west striking sequence of limestone ridges and shale valleys that dip generally south at about 17° (Fig. 5). The shales are dark to medium gray kerogen-rich fossiliferous claystones that have fine texture (Fig. 4). It is likely, therefore, that these shales have played an important part in the generation of hydrocarbon in the area. The 28 barrels of 32.2° API oil recovered from the Wanderer limestone in the Dagah Shabel-1 well supports this suggestion. Offshore wells have also indicated good source rocks of Jurassic age. For example, Dab Qua-1 well intersected shales of Daghani formation that had TOCs in the range of 0.53-1.18%.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The results of the hydrocarbon source potential evaluation are summarized in Table 1. As indicated in the table, the composition of the kerogen in samples of Gahodleh and Daghani shales is primarily amorphous (Type I), which are algal remains that have greatest oil source potential.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 5 <i>Southerly dipping Jurassic sequence of Gawan limestone overlying Daghani shale, Bihendula area.</i></span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Cretaceous</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The Upper Cretaceous shales of Yesomma formation contain fair to good source potential. In both the Bandar Harshau-1and Dab Qua-1 wells, shales in the Yesomma formation had shown good source potential with TOC up to 5%.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Eocene-Oligocene</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The offshore well of Dab Qua-1 encountered a very good potential source rock of 15 m thick and TOC of 3%. In addition, good potential source rocks which had TOC of 11.3% outcrop in the Daban basin, although the succession is immature.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Table 1</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> <i>Potential source rocks in Somaliland.</i></span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> </span></div>
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<b><span style="color: white; font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Age and Unit </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="color: white; font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Sample Type </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="color: white; font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">TOC (%) </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="color: white; font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Comments </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="color: black; font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bihendula </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic ( Upper Daghani shale)</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Outcrop </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">2.01 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Good oil source; Type = Amorphous algal; Hydrogen Index = 537 mg/g; Genetic Potential = 11.47 kg/ton; Vitrinite Reflectance = 0.5-1.0. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic (Gahodleh shale)</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Outcrop </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">1.43 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Fair oil source; Hydrogen Index = 434 mg/g; Genetic Potential = 6.76 kg/ton; Vitrinite Reflectance = 0.4-0.9. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dagah Shabel </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<tr style="height: 19.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 140.4pt;" valign="top" width="234"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic (Calcareous shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 89.4pt;" valign="top" width="149"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dagah Shabel cuttings </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 43.8pt;" valign="top" width="73"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">0.75 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 151.8pt;" valign="top" width="253"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Good oil source; Type = Amorphous algal; HC/Non HC = 0.57; Vitrinite Reflectance = 0.6. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 19.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 140.4pt;" valign="top" width="234"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic (Daghani shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 89.4pt;" valign="top" width="149"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dagah Shabel cuttings </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 43.8pt;" valign="top" width="73"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">0.46 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 19.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 151.8pt;" valign="top" width="253"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Fair to good source for condensate and gas; Type = Amorphous; HC/Non HC = 0.44. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 10.8pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #00ccff; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 10.8pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 432.6pt;" width="721"><div class="MsoNormal" style="line-height: 10.8pt; margin: 0cm 0cm 0pt;">
<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Daban Basin</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 28.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 140.4pt;" valign="top" width="234"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Eocene/Oligocene (Lignite from <br />lower Daban Series) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 89.4pt;" valign="top" width="149"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Outcrop </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 43.8pt;" valign="top" width="73"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">11.3 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 151.8pt;" valign="top" width="253"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Potential gas; immature; Hydrogen Index = 104 mg/g; Genetic Potential = 12.17 kg/ton; Vitrinite Reflectance = 0.4. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 10.8pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #00ccff; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 10.8pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 432.6pt;" width="721"><div class="MsoNormal" style="line-height: 10.8pt; margin: 0cm 0cm 0pt;">
<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bandar Harshau-1 </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 28.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 140.4pt;" valign="top" width="234"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Upper Miocene (syn-rift shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 89.4pt;" valign="top" width="149"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bandar Harshau-1 <br />cuttings (650 m) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 43.8pt;" valign="top" width="73"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">1.92 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 151.8pt;" valign="top" width="253"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Potential gas and oil; immature, Hydrogen Index = 268 mg/g; Genetic Potential = 5.41 kg/ton; No Vitrinite Reflectance. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 28.8pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.8pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 140.4pt;" valign="top" width="234"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Upper Cretaceous (Yesomma shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.8pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 89.4pt;" valign="top" width="149"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bandar Harshau-1 <br />cuttings (2271 m) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.8pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 43.8pt;" valign="top" width="73"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">3.26 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffbf55; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 28.8pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 151.8pt;" valign="top" width="253"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Overmature; Hydrogen Index = 17 mg/g; Genetic Potential = 0.84 kg/ton; Vitrinite Reflectance = 1.0; Type II/III organic matter. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<br /></div>
<table border="0" cellpadding="0" cellspacing="3" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184; width: 727px;"><tbody>
<tr style="height: 22.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 22.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 140.4pt;" valign="top" width="234"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Cretaceous (shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 22.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 89.4pt;" valign="top" width="149"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bandar Harshau-1 <br />cuttings (2268 m) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 22.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 43.8pt;" valign="top" width="73"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">1.1 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
</td><td style="background: #ffdfaa; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 22.2pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 151.8pt;" valign="top" width="253"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt;">
<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Hydrogen Index = 35 mg/g; Genetic Potential = 0.48 kg/ton. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Lower Cretaceous (shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bandar Harshau-1 <br />cuttings (2376 m) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">1.26 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Hydrogen Index = 21 mg/g; Genetic Potential = 0.35 kg/ton; Type III organic matter. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dab Qua-1 </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Middle Eocene (15 m thick shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dab Qua-1 cuttings </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">3 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Very good oil source; Type I organic matter. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Upper Cretaceous, Yesomma shale </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dab Qua-1 cuttings </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">5 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Good oil and gas source; Type II; Genetic Potential = 8 kg/ton. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic (Daghani shale) </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Dab Qua-1 cuttings </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">0.53- 1.18 </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Fair oil and gas source; Type II/III organic matter; thin shale (6 m); Type I/II organic matter. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<tr style="height: 1013.4pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: #f0f0f0; border-left: #f0f0f0; border-right: #f0f0f0; border-top: #f0f0f0; height: 1013.4pt; padding-bottom: 0.75pt; padding-left: 0.75pt; padding-right: 0.75pt; padding-top: 0.75pt; width: 481.8pt;" width="803"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span><b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Thermal maturation and migration </span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Maturity levels of the source rocks vary from early to post-mature (Table 1). The Jurassic units (Gahodleh and Daghani shales), and possibly the Eocene units in the offshore areas, which may contain multiple source sequences, are situated within the oil window and are highly prospective for oil and gas. In addition, thermal modelling of the Gulf of Aden has identified a number of offshore kitchen areas that have excellent source potential (Bott et al., 1992). Furthermore, seismic and well data suggest both structural migration and strati-graphic migration are operative in these locations (Fig. 6). However, in general the potential Oligocene-Miocene source rocks are likely to be immature to early-mature for the majority of the onshore areas.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Reservoir rocks</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The sedimentary strata of Somaliland contain numerous reservoirs within the pre-syn- and post-rift rocks of the Gulf of Aden. Reservoir rocks for the pre-rift sequence include both carbonates (Eocene and Cretaceous-Jurassic) and sandstones (Cretaceous and basal Jurassic). Reservoir rocks in syn- and post-rift sequences are principally sandstones with secondary carbonate reservoirs.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Jurassic</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Two onshore wells, Dagah Shabel-2 and Biyo Dader-1, intersected 191 m and 160 m of sandstones in the Adigrat respectively. Porosity of the sandstones was variable, but as high as 15%. At Dagah Shabel-2 they produced fresh water. The reservoir potential of the Middle-Upper Jurassic deposits of Bihen, Wandere, and Gawan limestones is also good.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Cretaceous</span></i><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">In the Upper Cretaceous, good clastic reservoirs have been recognized. Dagah Shabel-1 well intersected very thick (790 m) fine to coarse-graded fluvial sands of the Nubian (Yesomma) formation. The well encountered two highly porous sand units where small quantities (four barrels) of good quality (33.6° API) oil were recovered. In the offshore, the Bandar Harshau-1 well penetrated 536 m of Upper Cretaceous sediments of restricted shallow marine environment that had porosities of up to 14%.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Tertiary (Eocene-Oligocene)</span></i><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Clastics and carbonates of Eocene-Oligocene age also offer reservoir possibilities in syn- and post-rift traps. In the offshore, the Dab Qua-1 well penetrated a total of 183 m of Auradu limestone that have oil shows. Bandar Harshau-1 well also had minor oil and gas shows.</span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Traps</span></b><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">In Somaliland, there is no evidence of large-scale compressive folding like that of north-eastern Arabia. However, at many localities in the country, minor folds are known to occur which are believed to have been caused either by rejuvenation of old fault blocks or drag along major faults parallel to the Gulf of Aden. Such folds are mainly confined to the Guban region where the intensity of the faulting has been very much greater than in the plateau. One such example is the minor folds recorded in the Dagah Shabel district, close to the Dagah Shabel fault. </span><span style="font-family: "Times New Roman", "serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 6 </span></b><i><span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Idealized north-south cross section of Biyo Darer area showing the elements of the petroleum systems. The dia gram depicts three potential migration scenarios: (1) Vertical migration from potential Jurassic source rocks into overlying Cretaceous Nubian formation, (2) Lateral migration from Jurassic source rocks into overlying Jurassic reservoirs, (3) Lateral migration from Jurassic source rocks into underlying Lower Jurassic Adigrat formation.</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">As a result the primary structural traps in the country are rollover anticlines associated with major growth faults that become listric above the pre-rift section. Stratigraphic traps are also important, particularly in the offshore areas where thick successions of Jurassic and Cretaceous sediments were eroded. The seismic profile across the Dagah Shabel and Daban basin, as seen in Fig. 7, provides a sample of the type and density of structures present in the area. The figure illustrates the trapping styles in the area. In addition, the general magnitude of area of uplift of some of the structures might be a guide to possible structural size.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Seals</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The country has ideal conditions for seal development. Seals are constituted principally by interbedded shales for the Jurassic and Cretaceous sequences, with Eocene anhydrites also forming a regional seal. For the syn-rift sequence of Gulf of Aden Oligocene, anhydrites and interbedded shales are the main seals.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Comparison with Yemen</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The geology of Yemen shows many similarities with Somaliland. This can be supported by reconstructing the Arabian plate to the position before the opening of the Gulf of Aden when many basins in southern Yemen seem to extend to Somaliland. For example, the Balhaf graben appears to be a continuation of the Berbera basin, and Masila basin appears to be a continuation of Al Mado basin (Fig. 1). As in the case of the Jurassic basins in Somaliland, drilling within the Balhaf and Masila grabens have indicated the majority of basin infills are Jurassic and Cretaceous in age. Furthermore, significant accumulations of oil and gas have been found in Jurassic grabens in Yemen including the Masila basin. Therefore, exploration interest to date in Somaliland has centred on searching for Jurassic rifts similar to those in Yemen.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 7.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Figure 7 Regional seismic profile crossing Dagah Shabel and Daban basin illustrating a graben structure of the Oligocene-Miocene units and the overall structural style of the area.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Conclusions</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The available well, seismic, and outcrop data show that the potential for commercial accumulations of hydrocarbons in Somaliland is good. These data show that the hydrocarbons may have accumulated in numerous large tilted fault-blocks and isolated sub-basins. Jurassic rift basins form the main exploration plays. Secondary exploration targets include Oligocene-Miocene rift sequence of the Gulf of Aden together with underlying pre-rift Eocene carbonates. Hence, favourable hydrocarbon plays could exist over many thousands of untested square kilometres along the entire north coast and south-east of the country at various drilling depths. However, much more exploration work and exploratory drilling activities are needed especially in the basins adjacent to the Gulf of Aden to determine whether Oligocene-Miocene successions are mature.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Acknowledgements</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The author wishes to thank Abdirahman Yusuf and the Somaliland Ministry of Minerals and Water Resources for providing the seismic data, evaluation of source rocks, and supporting his visit to Somaliland in July 2005. He also wishes to thank the Petroleum Institute (Abu Dhabi) for supporting this work.<br /><br /><br /><i>*The Petroleum Institute, PO Box 2533, Abu Dhabi, UAE. E-mail: <a href="mailto:mali@pi.ac.ae"><span style="color: blue;">mali@pi.ac.ae</span></a></i></span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">References</span></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Abbate, E. Sagri, M. and Sassi, F.P. [1993] Geology and mineral resources of Somalia and surrounding regions (with a geological map of Somalia 1:1.500.000). In Abbate, E., Sagri, M., and Sassi, F.P. (Eds) <i>1st Intern. Meeting on the Geology of Somalia and Surrounding Regions (GEOSOM 87), Florence.</i> </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Ali, M.Y. [2005] Petroleum geology and hydrocarbon potential of Somaliland. <i>67th EAGE Annual Meeting</i>, Extended Abstracts, 283. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bosellini, A. [1992] The continental margins of Somalia. Geology and geophysics of continental margins. I<i>n Watkins</i>, J.S., Zhiqiang, F., and McMillen, K.J. (Eds.).<i> Am. Assoc.</i> Petrol. Geol. Mem. 53, 185-205. Tulsa, Oklahoma. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Bott, W.F., Smith, B.A., Oakes, G., Sikander, A.H., and Ibrahim, A.I. [1992] The tectonic framework and regional hydrocarbon prospectively of the Gulf of Aden.<i> Journal of Petroleum Geology</i>, 15, 2, 211-243. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">MacFadyen, W.A. [1933] <i>Geology of Somaliland.</i> Government of the Somaliland protectorate. </span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Smith, W. H. F. and Sandwell D. T. [1997] Global seafloor topography from satellite altimetry and ship depth soundings. <i>Science</i>, 277, 1957-1962.</span><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<i><span style="font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Source: First published in first break volume 24, August 2006, © 2006 EAGE</span></i><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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<b><i><span style="color: #999999; font-family: "Arial", "sans-serif"; font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Article layout, text & images formated for Somaliland Times by Rashid M X Noor.</span></i></b><span style="font-family: "Arial", "sans-serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"></span></div>
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</h2>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-59068882292023149722012-04-26T09:18:00.001-07:002012-04-26T09:18:45.849-07:00<span lang="EN-GB"> <br />
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<dir><b><u><span style="color: #004dbb; font-size: x-large;"><span style="color: #004dbb; font-size: x-large;">Somaliland passes central banking law, eyes foreign banks</span></span><span style="color: red;">Mon Apr 23, 2012 12:29pm GMT </span> <br />
<span style="font-size: large;">HARGEISA, April 23 (Reuters) - Somaliland has passed a law that formally establishes a central bank, and is now poised to pass another to set up commercial banks in a bid to attract foreign lenders to start operating in the self-declared country by 2013.<br />
Somaliland, a breakaway state in the northeast of Somalia, remains unrecognised internationally.<br />
It has no formal banking sector and its people rely heavily on remittances from diaspora communities in Europe, North America and the United Arab Emirates, as there are no ATMs or loan facilities.<br />
"The President has signed the Central Banking Act into law," Abdi Dirir, governor of Somaliland's Central Bank, told Reuters on Monday.<br />
"We are expecting the Commercial Banking Act to be passed in the next three to four months," Dirir said.<br />
Yemeni state-owned bank CAC, Djibouti-based Salaam African Bank, and Banque de Depot de Credit Djibouti, a subsidiary of Switzerland-headquartered Swiss Financial Investments, have all approached Dirir about commencing operations in Somaliland.<br />
"Once the commercial banking laws are in place, we hope investors will be attracted by our free market," Dirir said. (Editing by James Macharia, Ron Askew)</span><br /></u></b></dir></span><span style="font-family: Calibri; font-size: small;"><span style="font-family: Calibri; font-size: small;"><span lang=""></span></span></span>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-27865024056202705752012-04-18T12:21:00.004-07:002012-04-18T12:21:53.609-07:00<h2>
<u><span style="color: blue;">Todobaadkan iyo weriyaha laanta curdinka</span></u> <span style="color: red;"> Qalinkii: Hamud du'ale</span></h2>
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<br /><span style="background-color: #660000; color: white;">Qodobada Weriyaha laanta curdinka laga waraystay todobaadkan waxaa ka mid ah:1. Dawladdii ururada miyay ku milantay?2. Markabka Mijihiisii lagu murmayo, madaxiisii yaa liqay?3. Ma laga yaabaa komishanka Doorashooyinka Qaranka in uu ururka Wadani ku biro? 1. Dawladii ururada miyay ku milantay?Qurbaawi: Dawladii ururada miyay ku milantay?<br />Weriyaha laanta Curdinka: Maya. M/weynaha xusbi la’aan ayaa haysa. Sidaa daraadeed isaga ma kala xigaan ururadu,Laakiin ururada ayaa mid weliba hungureenayaa in M/weynaha ururkooda hogaamiyo, marka laga reebo ururka UMMADDA, oo kalsooni buuxdaa ka muuqato.<br />Qurbaawi: Soo kii KULMIYE hogaaminayey; soo kii ku soo tabacayey mudada dheer, soo kii masgax, muruq iyo maal midna aan kala hadhin. Soow kii dhabta uun ku siddii jirey, sidii wiil u dhalay. Maxaa dhacay?<br />Weriye: Taa waxaa biiyey talaata beesteen, xusbi biis ah , aragti biis ah oo tol biis ah. Waxaa biiyey markii isaga oo aan afartan bixin M/weynuhu, oo umul ah, oo aan ka soo kaban diiftii ololihii foosha doorashooyinka iyo ummusha, oo weli ka soo kaban farxad-qadhqadhkii guusha, oo ku dhex jirey hanbalyooyinkii dadweynaha iyo damaashaadkii libta u soo hoyatey; la tixgelin waayey ee la kar ka badeeyey, ee la carshocarsheeyey, ee la yidhi: " innoo kala jeex xusbiga".Qurbaawi: Taasi soo tii la yidhi heshiis hore la beelood u gaadheen bay ahayd?<br />Weriyaha: La iskuma raacsana. Qaarbaa u arka in ay xujo ahayd heshiiskeeda loo baahnaa xilligaa si xusbiga loo badbaadiyo. Qaarbaa u arka in awrka la isku kacsanayey. Qaarbaa u arka in uu axdi dhab ahaa oo ciddii jebisaa beelo wacad tahay. Arrinkuse wuxuu ugyahay ‘Cirka day, dhulka day, dhawaaqaaga la cayaar’.<br />Qurbaawi: Muxuu yeelay M/weynuhu?<br />Weriye: Si wanaagsan. Madaxweynuh wuxuu cuskaday adiguba caqlaad leedahaye carar maxaa dhaama. <br />Wuxuu yidhi: " kal goyn maayo, oo lex-jeclo ayaa iga haysee, idinku qaata". <br />Qurbaawi: kadibna maxaa dhacay?Weriye: Kadibna M/weynuhu wuxuu isku aqoonsaday in uu ahaa murashax madax banaan, oo aan xusbi gaar ah ka soo bixin. Waana sobobta keentay in uu dhexdhexaad ka noqdo xusbiyada qaranka, xilalka qarankana u magacaabo xusbiyada oo dhan iyo weliba golayaasha sharci dejinta.<br /> 2. Markabka mijihiisii lagu murmayo, madaxiisii mee? Qurbaawi: Kiiskii musuqmaasuqu muxuu ku danbeeyey?<br />Weiriyaha L.curdinka: Weli maraanmar iyo qadaro ayuu ku jiraa.<br />Qurbaawi: Kow!<br />Weriyaha: Markabkan waqfiga ahaa, mijihiisii mooyi madaxiisii lama hayo. Dadweynihii, qareenadii, warbaahintii, iyo siyaasiyiintii waxaa lagu mashquulay xadhiga iyo mijihii markabka. Weli la isma weydiin meeday intii kale. Dawladii la moodayey in ay musuqmaasaq daraadii iyo dar Ilaahay u soo xidhay sedexda qof, Iskamay xil saarin baadi goobkii markabka intiisii kale. Taasina tuhun badan ayay dhalisay.<br />Qurbaawi: Maxaa immika la isla dhexmarayaa?<br />Weriyaha: Dadka qaar waxay leeyihiin arrinkani waa indha-saab iyo tafaaful lagu madax gadanayo, qaarna waxay leeyihiin waa qataar, qaarna waxay leeyihiin sakaaro saalo muuqan doonta ayay asaasaysaa.<br />Waa qataaroo, waa cilmiga qof sakaraadaya xanuunkiisa qof kale lagu wareejiyo , daalinbaa, dulmana lagu doorinayaa. Waa indhosaab oo wax weynbaa la qarinayaa oo wax yarbaa farta lagu fiiqayaa.<br />Qurbaawi: Miyaanay jirin denbi baadhayaal madax banaan (Private detectives) iyo warbaahin dabagasha, oo innoo kala caddaysa oo la fujo geliyaa?<br />Weriye: Wallaahi kaalintaasi way banaan tahay. Waa halkay salaadu ka xidhmi la’dahay, wax walba dawlada ayaa ah. Culumadan wax walba furaneysana, Kaalintan way ilduufeen, inkasta oo aanay iyagu ku degdegin wixii aan macaash dedeg laga heleen.<br />Qurbaawi: Oo Cabdillaahi Cirro, Muuse Buur Dhaab iyo xertoodii, waayo araga ahayd, maxay u furi waayeen xafiiska denbi baadhista gaarka ee Caalamiga ah ilayn, waa tan akownt-yadiina dibadaha lagu furaye; si ay u bareejeeyaan denbi baadhayaasha dawliga ah, markaasay caddaaladu sugmaysaaye, oo ay xaq iyo miisaan yeelanaysaaye. Maxay u furi waayeen?<br />Weriye: Mooyi. <br />Qurbaawi: Sidaa iyo ammaano alla, laakiin waxaan kugu sagootiyaya in aad buug ka qorto kiiskan oo aad runta raadiso oo is xilqaanto oo laanta curdinka wixii soo gaadhey ka bilood ilaa wixii koonfur u gudbey. Waa kiisaska buugaagta ugu badan laga qoro, kiiskan oo kale. Ha iska lumin fursadaa qaaliga ah. Waa iga talo. Il qabyaaladeed ha ka eegin, il qalin soofaysan ku eeg oo qadarin mudan.<br /> 3. Ma laga yaabaa in komishanka Doorahooyinka Qaranku ku biiro ururka WADANI? <br />Qurbaawi: Ma laga yaabaa komishanka doorashooyinka Qaranku in uu ururka WADANI ku biiro?Weriye: Wax u diidayaa ma jiro. Meel uu kaga hadho ma joogo.Qurbaawi: Waayo?Weriye: Axdi qarameedkii iyo distuurkii aftida dadweynaha loo qaaday, waa la laalay.Qurbaawi: Ma inqilaab ayaa dhacay?Weriye: Inqilaab ma dhicin, laakiin labadii Gole ee sharci dejinta ee ahaa tirarkii Somaliland ayaa ku biiray ururka WADANI, oo cid gaar ah ku suntan.Qurbaawi: Kow!Weriye: Sidaa daraadeed mar haddii labadii Golee ee ansixiyey komishankan Qaranka xusbi galeen, dawladiina raali ka tahay, komishankuna ka ag fogaan maayo.Qurbaawi: oo goor dhaw marka la isqabsado, ayaa ururada u gar niqi doona?Weriye: Komishanku hadday ansaxiyaan Wadani iyagaa Axdigii iyo Aaminkiiba furaaya. Waa rajada qudha ee dadweynuhu ka dhursugayaan. UCID Burburin, Golihii Wakiilada Burburin, Guurtidii loo hanweynaa burburin, waxaa xigi qaran burburin, iyo qoorta oo la isla galo. Hadaba halkan balaayada lagama hortago, ee marka qoorta lala galo ayaa furdaaminteeda muddo lagu murmaa.</span></h2>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-78315266625588662262012-04-12T17:45:00.002-07:002012-04-12T17:50:18.754-07:00<div class="separator" style="clear: both; text-align: center;">
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<a href="http://www.gabileyonline.com/Final">www.gabileyonline.com/Final</a> Fantasy XIVgabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0tag:blogger.com,1999:blog-8571839915984374320.post-16314281639247861802012-04-12T17:37:00.000-07:002012-04-17T11:08:28.903-07:00Somaliland: Decisive year For the State<span lang=""><span style="color: blue; font-family: Verdana, sans-serif; font-size: large;"><strong>Somaliland: Decisive year For the State</strong></span></span><br />
<span lang=""><span style="font-size: large;"></span><br /><span style="font-family: Calibri; font-size: small;"><span style="font-family: Calibri; font-size: small;"></span></span><span style="font-family: Georgia; font-size: small;"><span style="font-family: Georgia; font-size: small;"><span style="color: yellow; font-family: Georgia; font-size: small;"><strong>Despite numerous challenges ahead, the country appears as a beacon of stability and development in the region.<br />Below is an article published by New Europe: edited by Mohamed Abdirahman<br />At times of crisis it is all too easy for people to turn inwards. We have seen it again and again, but as Europe navigates a financial balancing <br />act the decision of the European Parliament’s Committee on Foreign Affairs to discuss the issue of Somaliland this week was both welcome<br />and extremely timely. It came after Admiral Duncan Potts of Operation Atalanta reiterated the need to work with states in the Horn of <br />Africa if gains made in combating piracy were to be secured. My government has been devoting significant resources to this common <br />scourge and my exchange of views with MEPs sends an important message to Somalilanders and Europeans that we are partners in a<br />common endeavour: to bring peace, stability, and prosperity to the Horn of Africa.<br />The London Somalia Conference held on 23 February 2012 demonstrated that this year will be a crucial one for the future of Somalis<br />throughout the Horn of Africa. The mandate of the Transitional Federal Government (TFG) will expire in August 2012 and it is unclear <br />what will, or can, replace it. There has to be recognition from all sides of the achievements that Somaliland has accomplished and <br />their aspiration to be a sovereign state. These reflect the determination of Somalilanders to shape their own future in what has proved <br />an inspiration to many Somalis. But our model is our own, and just as we do not wish to propagate it, so we also do not want to see our success subsumed.<br />In the coming year Somaliland will continue to provide the base for United Nations food distribution operations to Somalia and its security units will provide <br />the local basis for ongoing EUNAVFOR Atalanta and NATO Ocean Shield anti-piracy operations. Local elections will be held throughout Somaliland’s <br />districts, building upon successive polls held since 2003 that have been deemed free and fair by international observers. We will also be moving to <br />diversify our economy and encourage private investment to take full advantage of the €175 million the European Commission is providing to foster economic<br />development in Somaliland.<br />This is imperative as the demands being placed upon Somaliland and its people are growing. Pushed by instability and drought in neighbouring Somalia and <br />drawn by Somaliland’s vibrant economy, thousands of refugees and migrants make their way to the capital, Hargeisa, and other urban centres every year. <br />The military campaigns of Siad Barre flattened cities, devastating Somaliland’s infrastructure, and while mobile networks have spread like a web and international <br />banking services are growing, key provisions such as sanitation and basic utilities are being stretched beyond their original, very limited, capacities. <br />For this reason, and to ensure the tremendous work achieved to date is not squandered, the European Union and its Member States should continue their valuable<br />investment in Somaliland, because every day the dividends are being seen. Business confidence is growing as key names such as Coca-Cola open operations,<br />the diaspora continues its crucial investment in property and trade, and my government continues to push the promulgation of legal codes to encourage and protect <br />investment. But the next step has to be to allow Somaliland formal access to international organisations so that it can obtain credit, allow its exports to be certified <br />according to international standards, and thereby allow its traders the opportunity to realise the true worth of their talents.<br />Like Europe we are facing new realities and possibilities, but between a young country and an old continent I want to build a partnership based on our common <br />outlook and the belief that we must secure for our citizens the future they deserve.</strong></span></span></span></span>gabileyonlinehttp://www.blogger.com/profile/17788296035937771009noreply@blogger.com0