"Somalia lacks infrastructure and to be in production, means pipeline, port etc need to be in place by then, as well as security." - At least we don't have to worry about a landing strip , supplied by Landau with Range money to apparently secure the offshore licence which we have relinquished.
I have to say this is one of the more interesting share threads, lots of opinions, such as will be hitting the low 70's soon, with absolutely nothing to back it up.
The thing is if it was to hit the low 70's soon then it would be at the low 70's already.
You would have to be an insider trader to know where the shareprice will move in the future. Generally the market sets the right price. I have a very small shareholding in this company, so not the thousands of pounds that others seem to have put into it.
My only concern would be the bottom line. From what I can see the company has suffered year after year of losses. My question would be how long can they keep taking these losses on board without running out of cash.
My reason for buying in, is because it's relatively cheap and the oil price is very low at the moment.
The day to day, hour to hour moves do not really indicate alot. It can be down for 90% of the day, but so long as it's up in the last hour, it looks up for the day.
I'd hold this for a few months before taking a view on whether to sell.
I feel sad for people who still believe that RSR has balls to drill puntland..Company is struggling to meet it's day to day expenses...supposedly few of the directors have sacrificed their wages, oil price is nose diving, and still some people think RRL can drill Puntland with over 5B shares in issue, and SP below 1P.
More like 2050 strategy, Landauslide. Some of us will still be there, and holding Range. Remember the last WW1 enlistee has only just died. I will be 104 and am sure will still be glad of the Punt punt to supplement OAP (and pay my membership of local "gentleman's club" :-)
to be in production in 9 years doesnt mean HRN will not do anything till then.
Somalia lacks infrastructure and to be in production, means pipeline, port etc need to be in place by then, as well as security.
obviously, exploration (ie what HRN/RRL/RMP is doing now) will need to start now. after exploration (if that completes by 2015), then comes appraisal (maybe till 2016). surely by the time we have positive result from exploration, HRN/RRL/RMP would have then sold out their stake to biggies as they are the one that have deep pocket for bringing it to production.
any good news/progress in Puntland will also be good news in RRL, in fact will be big boast to sp in addition to our focus on Trinidad
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