re: Ann: Acquisition of 100% of Trinidad Asse... This was one of...

re: Ann: Acquisition of 100% of Trinidad Asse... This was one of the pieces of information we were waiting for. A heads of agreement is one thing, but finalised, and now ownership is confirmed, can only be good news.

I note their comments about the report from Old Park (note probably paid for by RRS - not sure on that). They mention a few good things about T&T:
- Drilling to start in 30-45 days
- should take 1-2weeks for each hole (depends on depth)
- drilling 9 wells into existing and new potential targets
- lifting production by 40-150bopd. So if they all are successful, at minimum in the next 6 months - production from T&T should be around the 1,000bopd just from those 9 wells.
- Anticipating Range to spud an exploration well in the un-explored deaper Herrera formation.

They also list a price target of 28.1p (think equivalent is about 42c Australian).

If T&T comes to fruition, and Texas continues to increase flow-rates, then there should be sufficient cash-flows to cover further exploration in Georgai/Puntland etc. So hopefully no more share issues (unless to purchase further awesome deals like T&T).