every 1c of share price = 50m of market cap

When the shares are consolidated there will be ~5 billion shares - remember that the T&T previous owners will get a lot more shares if/when they can achieve 1500 bopd.

My opinion is that T&T is not all it is cracked up to be and Range bought a lemon - the proof of that is the latest announcement stating production had FALLEN back to 800 bopd from a previous announcement of 1000 bopd.

That original 6 week Hererra drill has taken nearly 6 months too.

On the assumption that T&T is a lemon and in the same basket as Georgia and Puntland and with Texas gone, Range really has nothing so they had to acquire something which they are in the pricess of doing. Remember, the wanted to sell Texas to purely focus on T&T. If Puntland is a success then Red Emperor is much better punt.

IMO there will be a reverse split this year and the market cap of $250 million when both companies are combined is not based in reality and will not be sustained unless they get to 4,0000 bopd which is more than likely 1-2 years/

4,000 bopd is around 1.45 million barrels a year against ~5 billion shares - do the maths, this SP is ridiculously high without a significant increase in production and the administration expenses are ~10 million per year alone.