Just to clarify, RMP are fully funded for the first drill in Puntland and the second of 2 drills in Georgia ( the first hit fine-grained aphanitic Volcanic Rock which doesn`t inspire confidence in there Seismic Data).
They have the option of participating in the second Puntland drill but with only £5.3 million cash as of 30th November 2011 where is the money going to come out of ??
If the first Puntland drill isnt commercial then they`ll have to go to the market for more funds to participate in the second drill.
I flagged Horn as a good option a couple of weeks ago, im only sorry I didnt jump myself but i was too worred about how liquid the stock is as at the time there was little or no activity and i was afraid of not having a decent exit strategy one way or the other. It certainly is a good option IF you want full exposure to Puntland but I personally like the multi faceted dimension to Range...offshore & Columbia included! Just be careful that there are nearly as many warrants in issue as shares, do your homework brefore jumpin in!
And Grecco the RRL sp is going nowhere near 3p regardless of how puntland goes, i am with neil on this one, texas and t+t is worth 7-8p at least, the last rns was extremely upbeat on texas and the nett profit per barrell for both of these projects is extremely significant.... Given the choice its a fact that texas plus t+t has a much higher net worth as a shareholder than puntland will, puntland is seen as the jewel in the crown and does have something of an unknown value (need to see exactly how the block plays out, if it derisks) but a full valuation on the 2 current drills doesnt match the upside potential to texas and t+t in my opinon.
New siesmics were shot and the crew which were working on the previous drill/seismics were replaced as far as i can recall so pretty much a clean slate and fresh start rather than spending good money after bad. 1 final go i rekon and then walk away if no joy.
Cash as of 31/12/11 was $5.8m, they've raised a further $10m today. This will fund them for the next 2 Puntland drills.
That`s less than I thought,
Oh that's not enough by half. Further Dilution I`m afraid.
Didn't Ranges share price go sub 7p only a few weeks back and that was with Puntland still in play so to say it wouldn't drop less than on a Puntland duster is just plain wrong
Lets hope it doesn't come to that
As for Texas & TT they were worth 7-8p a year ago before the total number of shares doubled
I don't really mind about further dilution for rmp as i'll be switching over to HRN and they'll have buckets loads of cash when their warrants are exercised but i don't think there will be unless they strike and have further testing costs. RMPs costs are capped on Georgia, the initial Puntland drill cost them $7m, with Shabeel N site works completed it will cost less than this, as will Nugal. Current cash should be suffice.
As for RRLs share price - yes it did, but it was in a downtrend and manipulation occurring. And it won't drop below 6.5p, it's all in the chart. Have you calculated what 100ft of gross pay in Albrecht is going to do to the Texas numbers? Have you thought about how big the herrera numbers will be? Both of these will be know before final results. You still think it will drop below 6.5p?
Hopefully we never find out.
They were worth 7-8p a year ago, yes. They are worth substantially more than though thankfully.
We'll know about herrera in Trinidad and the main Texas numbers before Puntland results? Is that confirmed? Thats great news, I thought they were ages away.
Should be within next month. Puntland results mid-late April.
Horn Petroleum has just jumped 12%.
We spent the last 2 months as flat as a pancake with f-all volume, then yesterday a small increse in volume and today ..., Bang up we go
something is definitly brewing now
update AOI is up as well !!!!
MES up 20% aswell and they all have the volume to back it up this time. Could this finally be it do you think?
I think so, HRN_V will only rise on something real. Either way I think tomorow will see big rises for RMP and RRL
Then Hopefully HRN going Bang over the weekend!!
XTR making good noises tonight aswell, too much excitement, too many threads on too many boards to keep track of! MES gone to 27% now but it was 40% the other day and that retraced.
Strong finish on 13p, RMP, HRN and AOI flying again, our ADRs will be ready for trading in the US on Tuesday, can't complain about any of this can we? Good signs all around.
HRN up 10% again
Good rise from RMP but as expected RRL will not see as strong a rise
RMP up a further 9% today