The region is quite good. As a veteran of the E&P industry your right you do not get oil from just sinking one oil well a long term vision is required.
IOC's drilled 63 oil wells in Somalia since 1950.Most were drilled in the 50's and 60's and they showed good oil and gas shows.The stratigraphy of Puntland is prone with sedimentary basins that are over 6000m-10,000m thick.There are 13 basins in the whole of Somalia.
As for the Nogal Valley it has been historically and tribally under Puntland- see via google earth.The Somalilanders have their own political and social problems and with an election coming soon things will surely boil up in Isaak Land another name for Somaliland.
As for the warlords in MOGADISHU reaching out to each other for an agreement in Djibouti(for those who are not familiar with the politics of the region the conference was a sham that was organized by the UNDP that has been the defact government in Somalia for the last 17 years and most of the so called opposition are from one clan - who also are in the government in the form of the Prime Minister) it might bring challenges from the South in the Form of Warlord Abdullahi Yusuf and Nur Adde who are not happy at how Puntland seems to be heading towards economic independence.In the next few weeks there will be a conference in Saudi Arabia and guess what! a repeat of GEDI-YUSUF struggle will surely ignite but this time as NURADDE/YUSUF vs PUNTLAND.That game will surely be dangeous considering that $168million will be at stake and surely that amount of money in the hands of warlords in the south can be a serious challenge.The last time GEDI and company played around with $32 Million dollars and Yusuf then almost died from the 4 weeks power struggle.
To be continued....
Please do your own research, it has only been my view.
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