I did very nearly the same thing. Was extremely close to investing in AMER too early on. Ended up putting money here because of the same reason. Big shot at Punty, and accepting a hit if it missed, there were significant Trinidad proven reserves and potential that should have been easy to ramp up development of and provide cash funding for anything/everything else going forward. A position many would have been envious of. Sadly they managed to squander cash left right and centre and not actually fully exploit what Range has. The oil and potential is still there it's just annoying it's taken till now to finally raise the financing to properly exploit it and therefore the reward will be much less per share than it could have been. Obviously still could do very well from this price but that's little consolation for those of us who could have been so much better off if it was done sooner! It will at least hopefully be nice to finally see the drilling properly managed and the bopd rising steadily though.
I remember splitting my funds between RRL & AMER. Both had similar mcaps and sp's of around 17p - 18p at the time.
I look now and Amer has fallen from a high of 70p to trade at a steady 32p to 35p range and of course RRL is still suspended but down at the 0.5p trading range.
It's funny (as in strange not ha, ha) but many thought that RRL were the far better bet back then with Puntland being the "retirement asset" and TRINI being the bread and butter cash cow that we could just keep on milking.
Yes, I look back now and just wonder where it all went wrong as the only think milked were all us mug punters who were well and truly taken for a ride...................
Hi Mickdee ignore things at your peril just look at what has happened by having your head in the sand like Celticheart.I have followed the RRL story with interest and if i see the same things happening in my investments a sharp exit will be called upon,
Almost everyone got satisfactory result out of RRL except ordinary shareholders.....literally in last 2 years 80-90% of company has been stolen from ordinary shareholders by raising money through various events (IOP / Abraham / Lind / Core)....But CH and few others seem to have cow dungs in their brain (apologies for word but couldn't find anything more appropriate)....still they can't get shareholders have been wiped out, and lost their shirt already...someone buying now once we start trading may have some chance to make some profit....but that is purely a fresh investment.
Furthermore, you don't know how much LO will cream off before the 30% remaining shares in PI hands can see their value....
Already, they are going to get $12.5m straight back after the funding..... I know of a company that will definitely make money for its shareholders and that is RRDS. Shame you can't buy shares in that.....
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