Hargeysa, Somaliland, April 12, 2008 (SL Times) – Range Resources Misleading Information to its shareholders includes a false claim that the company can actually operate in Somaliland’s eastern Sanag region and both Einabo and Buhodle districts as shown in the Range map. Range’s deception of its shareholders is not only confined to printing imaginary maps. It also re-named Puntland as the ‘Democratic State of Puntland’ apparently with the intention of impressing its shareholders that the company is operating within a safe and democratic environment.

However the truth remains that Puntland has never witnessed democratic elections in the last 4 decades. Since 1991 the enclave has been ruled by successive warlords.

Despite its claims to the contrary, Range Resources cannot operate in the Somaliland territories that it has earmarked for oil and minerals exploration such as eastern Sanag, Buhodle and Einabo.

Range Resources tried to survey eastern Sanag in 2006 but failed following a stiff resistance by the local population to the violation of their territory by Puntland’s militia and Range Resources. Ten natives died during the 2006 skirmishes between Puntland militia which Range funds and the area’s local armed tribesmen.

Range Resources have kept this information secret from its shareholders.

The Somaliland Times can also confirm that despite Range’s claim of paying $2.5m and a further 17 monthly payments of $200,000 to the Puntland government, no such payments were actually made into the Puntland treasury.

Source: Somaliland Times