africa renewal of puntland license questioned, page-17

Sagem, none of what you have wrote is fact, it's all speculation, and might I add, speculation not backed up by the history of RRS.

AOI have given the first Puntland drill a 9% CoS. That's a 91% chance of failure so to be honest, chances are even if Puntland does get drilled, it won't be commercial.

I'd suggested most investors aren't in this share for Puntland at all- they're in it for Texas/Trinidad/Georgia. Puntland is highly unlikely to be drilled, and even if it is drilled the CoS doesn't look that promising to me.

Puntland is not 'safe'. I wouldn't go there on holiday. Would you? Remember security risks are why the cost of the rig contract was so high last time around, which ultimately prevented the project from going ahead. No, not safe, not safe at all.

And even if it does get drilled, and we do find oil, and all the hopes of everyone here regarding Puntland come true, we still won't be able to command a high price for the oil in the ground because it's in the middle of a desert, with no infrastructure around it and the current government doesn't even have international recognition.

I don't get the hype. The best we can hope for in Georgia is 1 billion net to Range, the best we can hope for in Puntland is 2 billion net to Range (given we're only drilling 1 basin as Nugaal is still disputed).

I'd strongly suspect a major will pay more for 1 billion barrels OIP in Georgia, than they will for 2 billion barrels OIP in Puntland.