Says the man whose in PTR, not much difference in the two risk wise rally mate! Lol, definitely so if you were in Ptr prior to there debt clearance....RMP will spike soon....been in range now of 2.5 to 4p for three years....spike imminent IMO...dyor!
I don't hold shares here and never did, all these Billions of Barrels of potential oil and gas reserves….my oh my….and you can have it all for only 8million. Think I'll stand back and watch this unfold a little more. there is potential takeover opportunities here if the SP falls any more…..this may vey well hit 2p …one to watch
Horn Petroleum which has working interest in the Dharoor Valley and Nugaal Valley exploration areas in Puntland has announced that it is now focused on making preparations for a seismic acquisition campaign in the Dharoor Valley area which will include a regional seismic reconnaissance grid in the previously unexplored eastern portion of the basin.
“The current operational plan is to contract a seismic crew to acquire additional data in the Dharoor Valley block and to hold discussions with the Puntland Government regarding advancement of drill ready prospects in the Nugaal Valley block. The focus of the Dharoor Valley block seismic program will be to delineate new structural prospects for the upcoming drilling campaign.”
Horn adds it will also prospect specific seismic to delineate a drilling candidate in the western portion of the basin where an active petroleum system was confirmed by the most recent drilling at the Shabeel-1 and Shabeel North-1 locations.
All these plans are however subject to the security in these areas from the government to ensure the safety of employees working for the oil exploration companies.
“The Company continues to assess the operating environment in each of the Dharoor Valley and Nugaal Valley exploration areas from logistical, community and security perspectives. These assessments will provide critical information required to plan operations in the Company's exploration areas. However, given operational and political issues, a decision to move ahead on this will not be taken until adequate resolution is achieved,” read a statement from the company.
Horn Petroleum added that it continues to investigate potential joint venture partnerships for its Dharoor Valley and Nugaal Valley exploration areas.
"We continue to actively pursue new venture opportunities and we are continuing to work with a range of governments to progress planned exploration activities in Puntland," said Horn President and CEO, Jim Phillips.
The PSA signed by Horn Petroleum and its partners in both the Dharoor Valley and Nugaal Valley PSAs which carry a commitment to drill one well in each block within an additional three year term ending October 2015.
Hornwhich is the operator in the block holds a 60% working interest in the Dharoor and Nugaal Valley blocks while its other partners in the blocks are Range Resources (20%) and Red Emperor (20%). Africa Oil Corp. holds an approximate 45% equity interest in Horn.
IS undoubtedly the answer which is why GB has asked Fox Davies to answer all the questions on his behalf....... although the answers tot he questions do appear to be dragging on.....lets demand an EGM...it got the Petroneft board into action maybe have the same effect here! whats the latest HH?
I can only think of three reasons - he's using all his brain power to come up with answers that will appease us shareholders because there's nothing doing, or he's comfortable in the knowledge that Georgia sale is close and that will save him for now, or he's at a very important golf tournament. What do you think?
Unless we see some action from one of the existing assets or hear about a new asset, we are going nowhere. The cash is all that is keeping us afloat at the moment but it could all change in an instant. Investors are getting tetchy unfortunately due to lack of movement. Really is a waiting game with this one. 5/6 million quid can keep us going for a long time but I think 2 years is taking the mick (so far). Lets see what happens when our questions from the action group are answered.
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