africa oil announce farm in, page-5

Ah Gavtech, I was waiting for you to show up.

The money Red Emperor Resources are paying, as you well know, is to contribute to drilling costs, not to serve as a valuation of the oil in the ground.

Oil that's in the ground, hasn't been drilled, and hasn't yet been proven, is indeed worth nothing. Hence why our market cap is 40m rather than 4000m.

Africa Oil, just like Range, were looking to derisk, and theey have done somewhat.