First of all... Ghosty, brabus,sportback you guys are biased... you cant see my point because you have dollars invested and the smart ones here didnt post frankhalo is onto it...
Ghosty, I watch many oil companys (spec-asx), just because I have no $ invested doesnt mean I am not interested/ and or not concerned about what happens within the industry.... I saw a thread reading 'serious oil play' on another thread and then I started watching...
Brabus, Does previous drilling count you ask?... .... drilled 3 wells in Puntland in 1980's with oil shows only. conoco drilled 2 wells with oil shows only agip made a discovery with no certainty of commerical viability.. exxon unsuccessful in 1959, Amerada Hess in the 1970's unsuccessful... Whilst the same oil structures and rock types can be found in Puntland as in Yemen doesnot mean RRS will discover... .... the $7 valution is applied as if it is going to discover... The $7 VALUATION IS APPLIED AT OIL PRICE OF $40... SO UPDATE THE MARKET AND TELL US YOUR COMPANY IS WORTH $14... the other point is that the valuation doesnot take into account the free ride through JV partnership which is a major asset to have...
Sportback, If the people that you mention back this valuation then they have put their credibility on the line... .... ..... Ok you non believers, heres a question.... Why is it that the valuation on the company can take into account a discovery that has not happened?... a discovery on potential only....I listed most of the previous drills in "punting in puntland" werenot successful, valution says otherwise... ... I have now been in the oil industry for 5 years, and Ive seen nothing close to this sort of valuation which is a load of balony...Stocks like this one minnow in comparison to other stocks I hold and follow with favourable risk return... "Punting in Puntland" has the big risk attached...
RRS Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
