Puntland

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Puntland

Puntland DiagramIn Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys. These two exploration areas cover over 30,000km2 and have independently been assessed to potentially contain over 19.9 billion barrels of oil in-place.  The Shabeel and Shabeel North prospects on the Dharoor Block are located on a Jurassic aged rift system which is part of the same system that has proven to be highly productive in the Masila and Shabwa Basins in Yemen that contain an estimated 6 billion barrels of oil. Red Emperor holds interests in production sharing agreements ("PSAs") in the Dharoor Valley Exploration Area and the Nugaal Valley Exploration Area located in Puntland (Somalia).

  Gaffney Cline - Competent Persons Report

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