By Somalilandtimes network

Pretoria, South Africa, Feb. 19, 2006 – The Berbera PSC was awarded to Rova Energy Corporation Limited (Rova) by the Government of Somaliland in May 2003. Ophir has recently acquired 75% of the issued share capital of Rova, which is a special purpose company established to develop the Somaliland interests.

The State of Somaliland is not yet recognized by the international community, however following 15 years of self-rule under a democratically elected Government, tangible progress is being made towards achieving full recognition.

The Berbera PSC covers an area of 28,564km2 along the Somaliland coastline, situated both onshore and offshore, where water depths reach up to 1,500m. Exploration success in Yemen in the 1980s caused an increase in activity in Somaliland which has contiguous geology. This exploration activity was halted by the Somalian civil war which resulted in a declaration of independence by Somaliland in 1991. Only three wells have been drilled in the Berbera Block. Of these, two were offshore (minor shows) and the third, the only onshore well in the block, was a 243m deep stratigraphic hole. Three wells drilled adjacent to the western edge of the Berbera Block (Dagah Shabel 1-2-3) over the period November 1958 to November 1959 all encountered strong oil shows.

Source: ophirenergy

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