Just because they say something doesn't mean it's guaranteed to...

Just because they say something doesn't mean it's guaranteed to happen. I'd have thought RRS investors of all people would realise that by now. (4 wells per year in Texas, spudding of Cotton Valley in August, drilling in Georgia by December, Puntland mobilisation in July...and that was just the lies for 2010!).

Ultimately it doesn't look like enough money at all. $5.6m for Georgia, and if we make a strike it's going to cost more to put into production, which obviously is going to drain the cash balance.

Out of the $11m or $12m raised, that leaves RMP with only $5.4-$6.4m to pay for Puntland, and that's discounting the costs of flow testing and putting a well i nto production in Georgia if we made a strike.

$5.4-$6.4m is not enough to pay for 30% of a Puntland dril and directors salaries until July (if indeed the July date is to be met).

I don't understand why this is such a problem to recognise. If I told you all that I had enough cash in the bank to buy myself 10 Ferrari's and a couple of multi-million dollar houses, would you believe me even if my bank balance showed I couldn't buy those things? Hope not.

Look at the bank balance, not at what the company is saying, and work out for yourself if they can actually afford it. They can't (IMO).