Jacka Resources ASX and Petrosoma Limited will start farming for oil in Somalia on a 50/50% sharing concession consummated early April 2012, Strategic Intelligence News.
Jacka Resources (ASX: JKA) acquired the 22,000 square kilometer Habra Garhajis block, a highly prospective oil exploration block in Somalia.
This block is on trend with the prolific oil producing basins of Yemen that hold 9.8 billion barrels of oil equivalent making Jacka Resources one of the most sought after targets of investors.
Jacka Resources will shoot at least 500 kilometres of 2D seismic on the Habra Garhajis Block which is 1 of 3 Jurassic rift basins and are continuations of the Jurassic rift basins of Yemen.
The Habra Garhajis block has a working petroleum system which was confirmed and demonstrated by 9 independently verified oil seeps Jacka Resources and Petrosoma Limited have explained.
Strategic Intelligence reports geochemical analyses of these seeps indicate a light oil or condensate that resembles oils produced in Yemen.
Jacka Resources set up an office and are bringing in both equipment and skilled labor to start drilling.