RE: Oilriches9 Oct 2017 18:35
Mickdee - I am doing off the following from a recent rns "Over the course of the past month, Red Emperor has been negotiating with Range Resources Limited to sell its 20% interest in Strait Oil & Gas for a nominal sum and a royalty. After a long and frustrating Joint Venture and uncertainty over the tenure of Blocks VIa and VIb, the company concluded that a divestment was both prudent and opportunistic. Full details of the proposed sale will be made available to shareholders in due course after formal documentation has been agreed and executed. The carrying value of this asset was written down to nil some time ago and the Company does not consider its shareholding to be of a core nature to its ongoing business activities or strategy"
I personally don't think Rmp will get a penny, even though range owed us a drill on block VIB