Very interesting - Under the agreement with the Puntland
Government, Range is obtaining a 100%
working interest in the offshore extension of
the highly prospective Nugaal Basin.
To meet its commitments for the 10,000km
block, the Company will commit to a 2D seismic
program within the first three years, with
further 3D seismic and an exploration well to
follow in the second three year period.
Range has also committed US$5 million, for the
tarmac sealing of an airport runway in Puntland
at the Government’s direction.
Range has been approached by a number of
parties with a view to farming in to the block
given the success to date of Shabeel-1.
from lse -
http://www.the-pick.com.au/pdf/1336030298The_Pick_Issue_5_%28web%29_Range.pdf