I'd guess gas development is a more defendable ESG activity than most oil developments, if that's important to RR. For whatever reason, Tain is out and RR's development ready shortlist just got shorter. As you infer, RR must match the development expenditure incurred to their taxable profit made. From first contact to farm-out took about 12 months from memory, so RR put a big effort into due diligence. I've no idea how many development ready options they have but I feel they'll surely have a preferred one at hand by now. With our high return on investment it's likely to be...... lets not jinx it !
HHR Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
