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Firegold Company Ltd. (fka FGOOF) RSS Feed

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SOMPF investor board. No bashers, no pumpers, just solid DD. http://www.somapetroleum.com/ Revenue Potential > Geological Surveys indicate capacity in two areas of Somaliland of 282 million barrels recoverable. > Average oil price = say $50 per barrel. > Gross Revenue Potential = $14.1 billion Investment Required > $1 million to be paid to the Government of Somaliland for acquisition of rights. > Subject to negotiations with ICPC require additional loan finance or investment to cover agreed share of exploration costs. Proposed Agreement > Somapetroleum acquiring exclusive exploration rights from the Government of Somaliland for $1 million. > Commitment to minimum expenditure on exploration, over an agreed number of years. > Partnering with ICPC with responsibility for exploration activities. > Agreement to minimum number of wells to be drilled. > Payment of additional fees when commercial production commences. > Petroleum revenues to be shared on agreed basis between Somapetroleum and Government. Timeline > Mid-2004 - agreements signed, financing in place. > Late-2004 - start of first stage exploration activity. > 2005/2006 - progress in exploration activity > 2007 - establishment of commercial extraction infrastructure. > 2008 - first revenues from commercial operation. Current Status of Exploration > Major US companies were granted licenses in the 1980s, but have not followed through due to political & military circumstances. > Opportunity to pick up from where others have already invested vast amounts. News- http://www.investorshub.com/boards/quotes.asp?ticker=sompf Mon, Nov 27, 2006 4:00 AM Soma Petroleum Limited (SOMA) has filed for listing on exchange and approval for SOMA dividend for Equitable Mining Corp. - PR Newswire Tue, Nov 21, 2006 4:21 PM Equitable Mining Corp. (EQUITABLE) and SOMA Petroleum Limited (SOMA) creates dividend, warrants, and listing -
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