I research as much as can be reasonably expected and as much as...

I research as much as can be reasonably expected and as much as I'm comfortable with. That doesn't include knowing everything about Puntland geology as you'd have to be on the drilling team to have detailed information about that, given that there's no past-wells that flowed commercially at this depth to give an indication of what likely flow rates are. As a general rule however, the greater the depth, the higher the flow rates. No, not every time in every well known to mankind, but it's a good general rule to follow.

It's like saying that a Ferrari will win a race against a Suzuki Swift, that houses worth £500,000 are better than houses worth £100,000, or that 20 year old girls are prettier than 50 year old girls. Sure, there's exceptions to every rule, but that's all they are- exceptions. Maybe the Ferrari will suffer a broken gearbox in the first lap and be unable to complete the race- but all things been equal, I know who my money would be on at the start of said race.

Pointing out 1 well that has flowed well at shallow depths doesn't prove much by itself except that there are exceptions. Maybe this well is another but until there's evidence to suggest that I'll go with the 'general' rule of shallow depth= lower flow rates.

As regarding infrastucture, costs will clearly be huge not just because of building the pipeline (though make no mistake, this will cost a fortune relatively to what Range currently have), but because of the security needed to ensure no one gets close enough to fire an RPG at it. That security will have to be continous, 365 days of the year, and paying such a force will be an expense that will never die so long as the wells are pumping oil.

It is Range's policy to sell out before this- however such considerations will certainly be factored into any price they get for the oil. A major planning a takeover is going to want to know they're getting a good deal and can make profit, which is highly dependent upon the flow rates.

2 months is certainly a long time to most private investors, who place an unreasonably high time value upon their cash. You see this all the time of the AIM- a 1 month delay in operations can and often does lead to a 10% drop. You might think this is ridiculous, but there's no point trying to fight it unless you feel like sitting there losing money while the price trickles down.