2187, paintermr landau does deserve most of the credits for the...

2187, painter

mr landau does deserve most of the credits for the smith #1 well. it is a company maker. he took a punt and saw an oppourtunity to invest $1.25 million dollars into a spec oil well. he got very very lucky first time and the smith #1 well is a substantial discovery close to infrastructure. what is amazing with this discovery is the amount of oil flow. this well could potentially flow 200-500 barrels of oil per day and the gas flow rates could be as high as 10 million cfd. they are big numbers from only 1 well and will no doubt lead to many more wells drilled in the vicinity. if we look at rrs market cap at 40 million dollars as we speak then you can see the market has not fully priced in any further discoveries in the area and has totally discounted puntland. georgia is a world class oil/gas province and seismics have started. rrs has three fronts to launch a substantial oil company and imo the smith #1 well will provide the cash and impetus for substantial sp appreaciation. the market will wake to rrs's potential very shortly you would think as the risk/reward potential of rrs at 6.3 cents is massive. imagine what the sp will be when a drill rig is in place at puntland and oil shows are recorded after drilling has started. in 4 weeks time much will have changed for rrs and a complete rerating will occur