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In reply to: soj88 on Tuesday 23/01/07 01:44pm

Hi Soj88,

 

Could you please provide the link to where I can find the information where it states "RRS have to start exploring within three months from the 29th of December 2006" as I went to the Official Puntland website and I could not find it.

 

 

Thank you

 

SB http://www.sharescene.com/html/emoticons/smile.gif

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In reply to: Sportback on Tuesday 23/01/07 02:28pm
QUOTE
The Puntland Parliament unanimously approves the Production Sharing Agreement (PSA)

 

 

this was from 24/12/06. PSA was approved between CXM/RRS/puntland....why do we need another approval and what is the REAL point of todays ann.

 

Again, tonights CXM ann should clear things up a bit.

 

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In reply to: Sportback on Tuesday 23/01/07 01:58pm

I think that was mentioned when the Puntland gov.was discussing and aproving the deal,not long ago,but as you see a lot has been said and prommised and how far have we gone ,as far as the sp.we've gone bacwards,,,,,

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with all the online press reporting todays announcement, you have to wonder what the SP would have done if there was more significant detail in the release.

For example, if they added to the release that Dahoor/Darin and Nogal basins were estimated to have 500mbo of resources each(around $30billion) - or some numbers from Archibalds independent report... I think more people would take note instead of having to decipher the content.... http://www.sharescene.com/html/emoticons/blink.gif

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In reply to: drarthur on Tuesday 23/01/07 03:14pm

Doc

 

In December the PROPOSED PSA that Canmex/Range put together was approved by the Puntland government.

 

TodayÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s announcement is that government approved PSA being signed by Range and Canmex.

 

So now Range, Canmex and Puntland government have an agreement. This means that Range and Canmex now have legal rights to these two basins.

 

This is FANTASTIC news.

 

What we need next is a formal agreement between Range and Canmex, which obviously spills out of the PSA, but is a SEPARATE agreement.

 

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In reply to: drarthur on Tuesday 23/01/07 02:14pm

today's announcement formalises the PSA....govt approval is one thing (24/12/06), but it did not mean that either RRS & CXM have formally put pen to paper....today they did!!!!

 

to me it suggests that all 3 parties are happy with it and each other.....now for the agreement b/w RRS & CXM....

 

 

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Punk, Livas, I'm gonna have to disagree with you guys as to the purpose of this ann

 

If we look at the CXM.V ann from 2/1/7 we can see that the next natural step was the JV

 

QUOTE
With the Production Sharing Agreement now approved by the Puntland Parliament, Canmex and Range expect to finalize their joint venture arrangements in the near future

 

surely if the next step was for range and canmex to agree on what the puntland govt agreed upon then surely they would have said so. it would be a bit silly for range and canmex to give puntland an agreement for ratification on 24/12 without being quite happy with it.

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