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Clarity is the first casualty

Oil and gas tiddler Range Resources has for some time impressed with how it keeps shareholders up to date on the political climate in the Somali autonomous region of Puntland.

Given all the fuss made recently by the do-gooders at the United Nations about the threat of a large-scale war erupting in the horn of Africa, Reflux has been a little confused. Especially given the statements made by Range earlier this month.

"Range is of the view that this situation will not escalate, with the Puntland Government still in a stable position with a strong support base throughout the state," said the company, which is scouring for oil in Puntland. "Through open dialogue between the Puntland Government and Range Resources the board is able to make an informed assessment of the current political situation and the potential impact any escalation in tensions may have on its operations."

Despite Ethiopian troops invading Somalia to help Somali "government" troops oust the Council of Islamic Courts from power in the south of the country, everything is hunky dory, according to Range. In another update yesterday, Range said it was still "closely monitoring events".

It noted the location of the fighting was 500 kilometres south of the Puntland border. It said the "stability of the Puntland region [is] demonstrated in its dealings with the Council of Islamic Courts and the Transitional Government of Somalia".

Pity Range's close monitoring failed to pick up on a statement by Puntland Minister of Information and Culture, Abdirahman Mohamed Salah. The release said "the so-called Islamic Courts of Mogadishu attacked to the frontline defence army forces in Mudug region of Puntland State on December 24, 2006".

"The Puntland Government adopting the international convention of prisoners of war [PoW] is providing the necessary care and other needs to the prisoners of war captured from the aggressors in Bandiredlai area of Mudug region," the minister said. This was just before the Puntland Government rebutted reports it may have been involved in the massacre of 55 PoWs this week.

Range scores an exclusive

Range has quite a knack of keeping investors informed of its activities. In a statement on Friday, after a two-day trading halt, it said it was "pleased to advise" the parliament of Puntland approved a production-sharing deal with Range and Canada's Canmex. This was only two weeks after the parliament first approved the deal.

Reflux wonders if Range's managing director, Michael Povey, received news of the signing via carrier pigeon or pack horse.

"The PSA was first approved unanimaously [sic] by the Council of Ministries on December 14, 2006," said a statement on the Puntland Government website. The deal was ratified by the speaker of the parliament on December 23.

Range shares surged 0.1c in morning trade before closing unchanged at 2.8c.