.

Cynic is halfway there on his bike, maybe he could do us a favour, peddle a bit faster and he could fit it in with his holiday! ;o)

Dont forget there are 350 workers being paid in TT. If Puntland does not come in I dont like the look of this.

Agreed DC, seems to me from that Q&A that they are stalling for some reason. It would be nice if it could be a good reason, but it leaves me feeling a little uneasy.

Lol. He did not even comment on the stabilizers I put on here for his bike. He had better watch it they may pinch the oil off his chain to say they have a discovery. lol

Stalling more like because its looking like the assets are to far apart and the left arm does not know what the rights doing.

PL is coming across like a second hand car salesman and is looking like he has sold us the banger on the car forecourt.

I'd like to bang his forecourt at the moment!

I do begin to think he has.

Like they say it could be painted up and made as good as the past, the same for Range.

Its a different way of looking at things, I know.

Bought a Euro millions ticket, things will certainly look different if I win!

Going to cook a Beef Stroganoff for the good lady and me. A nice bottle of red should go well with it. Or two, hic!

Good for you. Dont forget old friends if you win. :-))

After reading the Q&A my take is, Putland is next week and will be bad news, compensated by announcement of Rig 8 being mobilised. to provide some positive news and finally, September is going to be the defining month with 1 or many announcements regarding Texas, Columbia, T&T reserve updates which should lead to more positive news.

So I believe that the SP will drop big time next week (2.5p) and small bounce with news on Rig 8 (3.5)and then remain static with an uptick in September. My guess will be that the SP will end in September with the range of 5.5 and 6p.

Once the Putland crap is out of the way, and if T&T hits it's 2.5k (BOPD) target, we may see 10p in Q1 2013.


My Opinion only.

Why has range not told us this ? Open the 16/8 PDF interesting


Strait Oil and Gas to Start Producing in Georgia by the End of 2012 Written by Nana Mghebrishvili, “The FINANCIAL”, 30/07/2012 The FINANCIAL -- Strait Oil and Gas Ltd. (SOG) is to start the production of gas in Georgia by the end of 2012 and oil in 2013. The company said that it has invested USD 25 million in its business. SOG has agreed to sell produced gas to the Georgian Industrial Group, while oil products will be exported from Batumi or Supsa. “I would assume that you will soon move to energy independence,” Alan Hitchins, CEO of SOG, said in an exclusive interview with The FINANCIAL. Strait Oil and Gas Ltd. has licenses for 7,000 square km across the country. They last till 2025 while explorations started in 2006. The company is going to expand to Turkey and Azerbaijan. SOG owns 40 percent of Blocks VIA and VIB, while. Range Resources Ltd holds 40 percent and Red Emperor Resources Ltd - 20 percent. “Our commercial success in exploration and production (E&P) activities would have a positive impact on the Georgian economy, state budget and in-depth exploration of licensed areas, as well as could help to reduce its heavy dependence on increasingly expensive oil and gas imports from its neighbouring countries.” “We entered Georgia in 2003-2004, just after the Rose Revolution. We were looking for business opportunities in the oil sector and got interested in Georgia as the business environment here is great. From its inception, the company has appreciated the benefits of partnering with the Government of Georgia, local employees and contractors. The company took into consideration the great potential of Georgia in the E&P of carbohydrates as well as efficient anticorruption policies and the business friendly environment created in the country during the last decade. Therefore we decided to open our enterprise here in 2006.” “We are a UK registered company, but we have formed a Georgian operational company as well – SOG (Georgia). The main partner of the company is the state of Georgia, represented by the National Agency of Natural Resources and the Georgian Oil and Gas Corporation. The leading and supervising unit of the company represents the Coordination Committee, which is comprised of an equal number of members of the company and partners.” Q. Please could you give us more details about your projects in Georgia? A. After having won the tender, SOG has been granted operational licenses in Georgia. The company has the right to implement oil and gas exploration and production operations on the licensed blocks VIA and VIB. The aim of the company is to perform detailed study of the licensed areas, explore and develop oil and gas resources in the following provinces of West Georgia: Imereti, Racha-Lechkhumi and Kvemo Svaneti. At the beginning SOG (Georgia) started the collection of existing Soviet-era geological, geophysical, geochemical and drilling data available in state archives and special geological databases. The first stage of the work programme included processing and re-interpretation of existing information, based on which future exploration prospects were defined. During the period of 2007-2009 the company carried out a reconnaissance survey for seismic exploration on the Blocks, including field mapping and a topographic survey. In 2009-2010 we identified priority zones and identified 68 potential structures containing an estimated 2,045 billion barrels of undiscovered oil‐in‐place. These productive zones have been identified at the Mukhiani and Kursebi areas which are suitable for exploration and if successful, development drilling. In 2011 the company and partners agreed to dispose of almost USD 20 million for further exploration activities in Georgia. This disposal programme has been an opportunity to further upgrade and focus on the exploration portfolio.
In July 2011 the company spudded the first exploration of Mukhiani 1 (Vani 3 Prospect). The well encountered previously unrecognized faults which led to the basement being encountered far earlier than predicted. The company has decided to plug and suspend the well and move to the second exploration well site in the Kursebi area and will look to perform additional seismic over the Mukhiani prospect as part of the 2012 seismic programme. In January 2012 the company commenced construction of the Namakhvani well site. Since the disappointment of the Kursebi-1 exploration well SOG and partners have embarked on a revised strategy for Blocks VIA and VIB in Georgia. The partners will now focus on lower cost, shallow appraisal drilling of well defined contingent gas resources around the Tkibuli-Shaori coal bed methane (CBM) field which straddles the central section of the two licences. SOG have obtained and processed new data for the CBM project on the territory of Block VIA and Block VIB coal deposits (Tkibuli-Shaori). The company recently conducted talks with the Georgian Industrial Group (GIG) over exploration of unconventional gas resources (CBM) in the Tkibuli coal mining area. The companies are keen on setting up a joint venture for gas exploration and production in the Tkibuli district. In the meantime available shale gas data has been processed, summarized and analyzed for Block VIA and Block VIB. In total on Block VI (Okriba, Shaori and Sachkhere areas) forecasted and estimated shale gas resources equal 26.2 billion m3. This estimation requires carrying out an additional field survey on blocks VIA and VIB, including new seismic information, as well as lower Jurassic shale sample geochemical and hydro-geological analysis to be completed by the end of 2012. In November 2011 SOG in partnership with the Georgian Energy Ltd. acquired two licenses for Block VIII and Block XIG and in 2012 has continued geological study, obtaining, collection, processing, reinterpretation, analysis and generalization of existing geological, geophysical and drilling data on the mentioned Blocks. A new effort was initiated and completed to locate and analyze approximately 22 Soviet-era wells throughout an expanded area. This process is still in progress. Q. What is the economic impact of oil and gas production on Georgia? A. The impact is very important as Georgia imports gas and oil. I would assume therefore that you will soon move to energy independence. Asides from this, gas and oil producing has other huge benefits. For example, investments provided by SOG and partners have benefited local communities in the region of the VIA, VIB, VIII and XIG Blocks. These benefits include the construction of access roads, rehabilitation of environmentally sensitive areas and employment of the local population. I do believe that soon our activities in Georgia will bring more tangible results for all parties involved in our business.



http://www.straitoil.ge/menu_id/14/lang/2/Reports_/_Media

Good opinion pumben.

http://puntlandnews24.com/an-open-letter-to-range-resources-and-horn-petroleum/

http://www.realclearpolitics.com/news/ap/politics/2012/Aug/26/un_official_says_somalia_transition_is_too_slow.html

The above perhaps delays the announcement we are waiting for .

yup - delayed until 3rd / 4th Sept.

August 27, 2012
Horn Petroleum Provides an Update on Puntland Drilling

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2012) - Horn Petroleum Corporation ("Horn" or the "Company") (TSX VENTURE:HRN) is pleased to provide an update on the drilling program ongoing in Puntland (Somalia).

The Shabeel North-1 well has reached a total depth of 3945 meters and has encountered metamorphic basement at a depth of 3919 meters. The well penetrated 149 meters of interbedded sands and shales of the Triassic Adigrat Formation with no oil or gas shows and only minor porosity exhibited on electric logs. Accordingly, the well is being plugged. As noted in a previous Puntland drilling update, the Upper Cretaceous Jesomma sands did exhibit porosity and hydrocarbon shows but produced only fresh water on a drill stem test. These sands are similar to the Jesomma sands encountered in the previously drilled Shabeel well in respect of log response and oil and gas shows. It has therefore been determined that additional testing of these zones in the previously drilled Shabeel well is also not warranted.

Based on the encouragement provided by the Shabeel wells, the Company and its partners, Range Resources and Red Emperor, plan to enter the next exploration period in both the Nugaal and Dharoor Valley Production Sharing Contracts ("PSC's) which carry a commitment to drill one well in each block within an additional 3 year term. The current operational plan would be to contract a seismic crew to acquire additional data in the Dharoor Valley block and to hold discussions with the Puntland Government to gain access regarding drill ready prospects in the Nugaal Valley block. The focus of the Dharoor seismic program will to delineate new structural prospects for the upcoming drilling campaign.

Keith Hill, Chairman of Horn, commented, "While we were disappointed that we were not able to flow oil from the first two exploration wells in our Puntland (Somalia) drilling campaign, we remain highly encouraged that all of the critical elements exist for oil accumulations, namely a working petroleum system, good quality reservoirs and thick seal rocks. We look forward to working with the Puntland government to move our exploration project to the next phase which will likely require us to focus on prospects in different areas of the basins. One should keep in perspective that it often takes a number of wells to find commercial hydrocarbons and we plan to continue our aggressive program to unlock the potential of this highly prospective region."

Horn holds a 60% working interest in the Dharoor and Nugaal Valley blocks and is the operator. The other partners in the blocks are Range Resources (20%) and Red Emperor (20%). Africa Oil Corporation holds an approximate 45% equity interest in Horn.

Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation's shares are listed on the TSX Venture Exchange under the symbol "HRN".

ON BEHALF OF THE BOARD

David Grellman, President and CEO