**eh- it's a problem because to meet the September 27th...

Gabeh- it's a problem because to meet the September 27th deadline for spudding of the second Puntland well, mobilisation for the first Puntland well will need to happen in February, and even then we will be cutting it close. RMP need to pay their drill costs on mobilisation, so if they haven't raised the money now, there's a very, very strong chance the deadline will be missed.

I know this is the Range board- that is why the topic under discussion affects Range. Unless you mean to tell me Puntland drilling timelines are irrelevant to RRS?

Bigman22- their farm-in announcement says they are committed to $5.6m under the 40% deal, with any additional costs being dealt with on a proportional basis to their percentage stake.
And they say these costs are on a dry hole basis. If a discovery is made it's going to cost more to test the well.

So call it $5.6m for now. They're raising between $11m and $12m, but $1m of that will go in fees to do the capital raising. So $10-$11m raised in total after fees. There won't still be $2.8m in the bank from that previous raising- directors salaries cost money and the general operations will cost money. There'll be $1.8m left if you're lucky.

Let's say $11m is raised and add the $1.8m still left in the bank. That's $12.8m. Get rid of $5.6m for Georgia costs, and we've got $7.2m left for Puntland.

Previously AOI got quoted $50m for one drill. There is no reason that price will have gone down since that time. The oil price is up, there's plenty of explorers around who want the rigs, and Puntland isn't any safer than it was last September.

I make that $15m they need for the first drill. Even halving that if some people's (to mention no names) ludicrous predictions of $25m a drill come through, that's still $7.5m, and we're still short, expecially when you consider salaries to pay in that time, and the costs of testing any discoveries, and of course the potential for any drilling taking longer than previously planned (with RRS, it's best to assume stuff will take longer than stated in my experience).

Truthinbeer- I am not downramping this stock, I am showcasing the facts. Lol at the 'paid deramper' rubbish. That's something that gets dragged out everytime someone is presented with stuff they don't like.

Can someone tell me how you go about getting these, erm, 'jobs' of posting on bulletin boards and getting paid for it? Do I just go down to the local job centre? Ring up my bank and ask to speak to the trading department? Go on, explain, because as far as I'm concerned these 'jobs' don't even exist. Please, post even one example of a job vacancy which involves posting on this BB.

If you can't, then give the paid deramper foolishness a rest. And no, it's not 'obvious' people are paid to do this either. Something is obvious when all evidence points in that direction- not when no evidence does.