views on smith-1 well ect

Posted in UK
CaptainNelsonForties - 23 Dec'09 - 10:40

Basically folks are buying into a 15m company with what looks like a very respectable find onshore Texas. Once this well has been tied into sales they will be planning more appraisal wells to develop this find, I would imagine that RRL will count this as a priority as its their only present development. The market cap currently doesn't reflect 25% of a decent find, we'll really know what we have on our hands when the well is fully tested. Priority number one for RRL is to get the infrastructure on site to do an unrestricted test on this well into sales and get the cash flow rolling in. Even if the Oz investors don't want these at the moment, there's plenty on this side of the pond that are buying.


goz1986 - 23 Dec'09 - 11:53

Haha this sp is a joke, rrl has as good as told us that George and Puntland will go ahead. for most the worry was that despite that rrl would not have enough money to exploit these projects but then rrl says the Smith1 well is a worker. However, because the well has been held back all the mugs bugger off because they feel smith is rotter. listen here and listen good gents if Smith 1 is a baddie (which it is not, look at the pressure and the massive choke they have put on it also the fact it is producing oil and gas!) why would rrl and it's partner go and buy another 500 acres....? Smith1 means a lot more than it seems as if it can churn out profits, Puntland etc can be carried out. All this good news
goz1986