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          PEAK:: PROCESS :: PERFORMANCE ::™

                                                                                                 

PRESS RELEASE      

19th December 2007

We will give you a brief summary of the legal case that we have lodged with the
Puntland High Court recently (Dated 11th December 2007), that has attached
copies to the TFG, the Council of Elders, The Puntland Parliament. The case is
still in the courts and we would not like to deal much in the details (Please Download Full Document Lodged 2MB).

We look at the following main issues:

1. Contract and International Law and in particular "force Majeure" and
"Nationalization" when can that be done?and who should own the concerned
assets? and how do you get out of  "force majeure"? and was that done legally by the Puntland Government or the TFG?
2. Who owns the rights to Land ownership and concessions for Natural Resources?
3. Competition and  Monopolities Law - how transparent was the original contract
that was given to Consort Pty Ltd when Dr.Ali Abdullahi showed interest in the
Resources of Puntland even before Consort Pty.Ltd that farmed-in to Range
Resources and then latter to CANMEX that has latter changed name to Africa Oil
Ltd. The Chronology of events for Dr.Ali Abdullahi's Amsas Consulting goes back
to 1996, while that of Consort,Range Resources and African Oil started only 2
years ago. African Oil  Corporation  that is a vehicle for the Lundins is also on the spot light for

dishonesty and circumvention of contract.


4.Lastly, what have these companies done for the last 3 years?

Amsas Consulting (an Australian company that is owned by me) did not go for any
concessions in Puntland since it tried to respect the "force majeure" that was
declared by original concession holders in late 1980's.Dr.Ali Abdullahi  is
advocating and petitioning the courts that for real ownership to be either with
the Government or with an Indegenous company that is registered and owned by
Somali (PUNTLANDERS). International companies can be invited latter when
Somalia's Federal Government that has International recognition comes out of
its political challenges by 2009, when we hope a constitution will be in place.


The amounts involved in the case runs into the Billions of Dollars.

 

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Somalia.

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