I get the feeling another asset will be on the way. These assets are bargain basement assets with a good chance of success. If we did get another asset we might see a further small placing but this would be at much higher levels. eg 6p plus. Imagine Georgia and Malaysia drill near term and then a further asset? bandy did say this year will be transforming and the re rate starts tomorrow.
Georgia news would be a bonus. But I also sense something else good in the pipeline perhaps another farm in? Only 300 odd million shares and how many of them are free floating? Promises to be a strong day tomorrow. Yes I do feel for range holders and that crook landau took all for a ride
The placing was the only negative but its out the way and relatively small. for 10p its only a Â£33m market cap. we should break 3p tomorrow as it all looks good. rrl are stuffed and are dependant on trini that may never come good
Maybe the placing spooked some but on digesting the excellent RNS they needn't worry. I don't think this shares will be flipped at this low price, and even with the placing only 300million shares in issue is hardly terrible. I remember jan 2012 holders of range were laughing at rmp holders saying they only had puntland, you could say the boot is on the other foot if Rrl ever come out of suspension. I expect to see higher volumes for the rest of the week
Yeah it looks like news has to get out and be digested and i now suspect a PR campaign by the company. buys today were pretty small trades but this won't stay at these levels for long. next catalyst should be Georgia drilling.
Georgia could add Â£10million to our market cap circa 3.5p. if it goes ahead this month it will be may before we get results at the earliest. Then we have high impact drilling offshore with a high chance of success.
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