This song is dedicated to the sardinian town 'Olbia', in Sardinia - Italy.
In north-east-sardinian dialect the name of the city turns in 'Tarranóa', the same as the title of this song. I am posting the text with english translation right here:

Tarranoa (x4)

Era minuredda la cittai ma abali è manna
tutti stani be' maccari siani poari in canna
figgjulendi d'ugna locu vidi a Tavolara
a punenti in fundu v'è lu monti di Limbara

Tarranoa (x4)

So' arriendi in tanti a visità chista Gaddura
cu' la gana di lampassi a mari in la natura
li più ricchi in Costa li più poari in Cala Luna
v'è d'ugn'annu un be' di jenti c'ha chista fultuna

Tarranoa (x4)

(Guitar solo)

Tarranoa (x4)

V'è ca no' po' stà senza la spiaggja di Lungoni
cal'anda a lu Palau o cal'attoppa in Cannigioni
ma si voi arrià bulendi o navighendi in mari
sempri hai di passà in chistu locu, me' cumpari

Tarranoa (x8)

English translation

Tarranoa

The town was so little, now it's big
Everyone feels well even if he's poor
If you look from any place you can see 'Tavolara' island
At east far away you see Limbara mountain

Many are arriving to visit 'Gallura' (North East Sardinia)
Looking forwad to jumping in the sea and in the nature
The rich go to 'Costa' (Costa Smeralda), the poor to Cala Luna
Every year there are many people that have this luck

Someone cannot stay without the beach of 'Lungoni' (Santa Teresa Gallura)
Someone goes to Palau or gets in Cannigione
But if you want to get there by airplain or by ship
Always you have to pass by this town, my friend