amsas we have no stake in those shares

RELEASE-- OIL Exploring Companies Sued in Puntland Somalia
Thursday, January 3, 2008 Printer Friendly Email this article





RELEASE--OIL Exploring Companies Sued in Puntland Somalia

We [Amsas Consulting] will give you a brief summary of the legal case that we have lodged with the Puntland High Court recently (Dated 11th December 2007), that has attached copies to the TFG, the Council of Elders, The Puntland Parliament. The case is still in the courts and we would not like to deal much in the details.



We look at the following three main issues:



1. Contract and International Law and in particular "force Majeure" and "Nationalization" when can that be done?and who should own the concerned assets? and how do you get out of "force majeure"? And was that done legally by the Puntland Government or the TFG?



2. Who owns the rights to Land ownership and concessions for Natural Resources?



3. Competition and Monopolities Law - how transparent was the original contract that was given to Consort Pty Ltd when Dr.Ali Abdullahi showed interest in the Resources of Puntland even before Consort Pty.Ltd that farmed-in to Range Resources and then latter to CANMEX that has latter changed name to Africa Oil Ltd. The Chronology of events for Dr.Ali Abdullahi's Amsas Consulting goes back to 1996, while that of Consort, Range Resources and African Oil started only 2 years ago. African Oil Corporation that is a vehicle for the Lundins is also on the spot light for dishonesty and circumvention of contract. Amsas Consulting was instrumental in Lundin's Expansion into Eastern Africa.





4.Lastly, what have these companies done for the last 3 years?



Amsas Consulting (an Australian company that is owned by me) did not go for any concessions in Puntland since it tried to respect the "force majeure" that was declared by original concession holders in late 1980's.Dr.Ali Abdullahi is advocating and petitioning the courts that for real ownership to be either with the Government or with an Indigenous company that is registered and owned by Somali (PUNTLANDERS). International companies can be invited latter when Somalia's Federal Government that has International recognition comes out of its political challenges by 2009, when we hope a constitution will be in place.



In the meanwhile Puntland exploration should go ahead with funds being raised from the Government and a stock Exchange to be based in Puntland. Financial and technical expertise will be tapped from local and SOMALI DIASPORA community who will take part in the first initial

Public Offering (IPO). Why should our assets be traded at the ASX or at AIM? while we have no stake in those shares



The amounts involved in the case runs into the Billions of Dollars.



Headquarters Contacts:

Suite 27/144-148 Nicholson Street

Footscray, Victoria 3011

Australia



Tel: +613-96879996

Fax: +61-3-99236149

E-mail: [email protected]





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Nairobi, Kenya



Tel: +254723946155, +254735110045



Somalia

Tel: +25290742442