Thanks for the tips, with regards to Horse hill I'm in Dor and UKOG so a little too exposed already to go in further there....with regards leaving RMP - my lack of patience historically has cost me big time....so for a change i'm going to stick with my initial choice...although this lack of info does worry me and indeed activity or lack of it in Somalia....RRL CEO called it 'on hold', although did add some ground works was going on...
Given the risk you are taking, which IMO iss that they do nothing for 6 months, you could do worse than look at STG who are involved in the HH drill but have a gold underpin or BNC which seems undervalued compared to REM. While the former is a relatively short term play the latter will build value for years to come.
Made some money in run up to first drill, although I seem to recall I reinvested and lost a load on duster.....lost around £10k on Rrl in cash and in pension......back in RMP around 6 months now....but in big....hoping and praying Horn will come good...but huge long shot....
Horn 60% interest in puntland is worth Â£12 million (minus Â£2million cash) gives a value of Â£4million to rmp, also rmp have a minimum of Â£5.5 million in the bank. Georgia should be worth a minimum of Â£3million in cash. therefore the rock bottom value is Â£12.5 million which is near enough 5p a share. If Georgia20% interest was sold at Â£10 million (not saying it willbe) rmp will have a minimum cap of Â£19.5 million that cash is near enough 8p a share.
How long have u been invested here? best near term news is we sell Georgia and bank Â£5 million, which then means are current cash balance is circa Â£11million. there is a distinct possibility that we will then see an aggressive approach on acquisitions when we have a good cash buffer. the big money lies with puntland and we should see 20p again if this takes place in the next 12 months....not impressed with horn who state 2 wells will be drilled in puntland by Oct 2015, we all know this won't happen.
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