best undeveloped oil fields in the world, page-75

ian witchurch "I havent been following RRS and Puntland that closely ... but lemme see if I understand this.

RRS are claiming minerals leases in Puntland, a country that doesnt exist, but if it did, was part of Somalia, a reasonably lawless place that just came out of a civil war ... and whose Central Government seems to be disputing the above leases."

I own RRSO and do consider it all far fetched but still worth a risk trade. Regarding your post - RRS have leases in Puntland - Puntland does not claim to be a country but our equivalent of a State ie a governed province of Somalia. They have had democratic elections and been 'relatively' peacful when compared to Somaliland. Somalia's central govt is NOT disputing the leases at all - the central govt is called the TNG or transitional national govt and has endorsed the legality of the agreements which can easily be found on the ASX releases or Range's website. The confusion being spread is that Somaliland has warned Range off its turf - Somaliland is another province or state of Somalia but is claiming sovereignty (as opposed to Puntland which is happy to remain part of Somalia) and hence feeling the need to dictate its borders. The Sool and dome other area are the parts in dispute as Somaliland have gone back to Imperial borders as the definition despite these area's having been under Puntland's control (voluntarily as I understand it but this needs to be verified) for a number of years.

I hope this helps - I know it is not your cup of tea but rather than add to the misconceptions - the agreement between Range and Puntland has been ratified by the TNG of Somalia and Somaliland is disputing 2 area's and warning Range not to dig in those areas.