I can't argue with the points you raise. bandy knows he needs to do something here or he may end up being removed by shareholders. it costs Â£5 million to drill a well in Georgia. if rmp up its stake by 20% you would expect it to cost Â£1million Georgia. rmp are already free carried. The interesting part is that aim has no real activity in Jan /Feb so it could be that Georgia is focused on by investors. we both know Puntland is way off but any success in Georgia could be interesting.
But I don't think GB will give up salary pot to empty it on a one trick drill. Again all depends on the agreement. If he did then I would expect a far greater slice of the action. I am out on the next ramp for sure. I am also planning the same with rrl. I believe there to be a revolving door with 6-7 key figures all out to make a quick buck but with no interest in shareholders. Learnt the lesson but hoping to escape before the scheme comes to a grinding halt. I fore one am really spooked by what I see. My Opinion only
Read the recent rns on the quarterly report. it would appear that neither strait or range have any cash?! The chances of success are pretty good on Georgia but still risky. if we get an rns confirming the above watch the big spike to 8p plus
Puntland is currently worth nothing but what i don't get is the valuation of horn at this moment in time. if Georgia drill goes ahead this may be a great chance for rmp to hit a good share price in the short term but we have no idea if it will happen. if rmp get 20% of straits interest it could get very interesting with rmp on a 40% stake on a fairly high impact drill. i won't believe it until i see bandy do something tho
Somalia is worth nothing due to political unrest, Georgia has contracts stating it has to be drilled by February/march, yet Strait have no money and RRL in absolute disarray....and not even currently trading on the ASX. We have a MD who has been waiting to be 'opportunist' for three years..... All in all its not looking good....so we may have a lower share price than cash in the bank, but then look at LEN who have millions in the bank and a share price just a fraction of it......Greg Bandy really needs to pull something out the bag and fast.....if anything to at least justify his ever increasing salary.....for your sake and mine JetJock (I hold 1M shares)
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