AOI has recently issued a lot of shares to raise capital and make an acquisition in Kenya (Turkana Energy). I agree that AOI and RRS share prices are not strongly correlated. AOI has a lot of other things happening that can affect the share price independent to RRS, just like RRS now has other things going with the Georgia deal. AOI will probably be weak over the next month or two due to the recent dilution, and around August 31 since all the newly issued shares become trade-able. Hopefully a bit of strength will come back when they start drilling the first well in their schedule, Bogal (Block 9 in Kenya), in September.
RRS Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
