Range Resource and Puntland

[neocon_2007]

http://www.rangeresources.com.au/Puntland.24.0.html

[AbdiWahab252]

Puntland got sold for 50 million dollars only.

What a rip off !

[Adan*5]

It seems the Western Range Resource is going to loosethe battle against Abdullihai Yusufs and Zenawis deal with the powerfull Chinese backers

[neocon_2007]

Yeah but then again didnt Yusuf back this deal?

[Adan*5]

Yes but he is made to prefer the chinese one which is more lucrative than the tiny Range resource

[Atomic]

The chineese deal is for north mudug, the range resource have sold the rights to the basins to africaoil corp(http://www.africaoilcorp.com/s/Home.asp) and they are drilling in bari and nugaal. If and when oil is found, more than likely there will be revenue sharing between puntland and the company.