The next critical step is to find a suitable JV partner in CI as well as updated CPR. Any farmout is likely to negate the need for a CR depending on the terms. I feel that traders are likely to respond warmly to a positive CPR and news of a reasonable farmout. This will also make a CR easier down the track at much higher prices than now. RIA has plenty of broker support out there. I also wouldn't rule out corporate action as RIA has been totally overlooked by the market. When frim drilling plans are announced in relation to Ghana I reckon there will be a great deal of interest in RIA. Think about it: what impact would a 50-60 million barrel discovery (attributable to RIA in ref to the Accra Block) have on RIA's share price? RIA might become a $1 dollar if all else goes well. I think that its CI assets have plenty of potential, but the real upside might come from Ghana.
RIA Price at posting:
10.5¢ Sentiment: None Disclosure: Held
