Of course, there'll be a few who bought in at the midweek high point and are now down on their investment. That's not just the case with RRS though- the vast majority of cases this week, if someone bought into any stock mid week they'd probably be down on their investment by now as most stocks have gone down a fair bit with the global problems.
Very few people can pick the exact lows and the highs though. I know this time last year I was about 20% down on my RRL investment, having bought in at something like 3.7p then seeing it drop to 3p with the rights issue.
I still feel 30p is on the cards over the next couple of months though. With so much acerage in a great area in Georgia, we could quickly be transformed from just a company with potential, into a company with solid cash flows and embarking on a continuous drilling campaign across several thousand square kilometres of acerage.
In a couple of years we could be sitting pretty with multiple thousands of bopd flowing across our seperate licences, and hopefully a large cash pile if a buyout of Puntland takes place. 2010 was pretty underwhelming in terms of drilling, but that's all about to change once we get the rig to Georgia.
RRS Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
