With recent meetings in puntland one could infer that the trading halt is related to offshore. A farm in agreement (whether onshore or offshore)shows that both RRS and AOI have the green light and support of the puntland govt. This would be great news.
A move away from Puntland is the other option. This could be seen in a number of ways by the market eg
a) RRS exanding their portfolio in oil and gas and reducing risk factor (Positive) b) A change in focus away from puntland showing a lack of faith in the current arrangement with Govt and AOI.(negative)
any way all will be revealed soon.
RRS Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
