Gavtech, no close connection other than being a shareholder. I...

Gavtech, no close connection other than being a shareholder. I got that impression from reading the boards (prior to the date I invested), and I also saw an e-mail from PL in 2010 which said that this was the case at the start, but the relationship with AOI had now improved (he was replying to a shareholder- not me- who had concerns about our relationship with AOI).

I remember back when Schmitt was replaced with Hill (AOI), that was seen as a big positive by quite a few people who had been invested longer term.

Of course this is just what was posted on BB's at the time, and a PL e-mail- both of which as we know can be wildly inaccurate at times. But having not been invested in the 2006-2009 period, it was the only explanation I could find. Might be wrong, hence the 'it is my understanding' comment.

I'm more positive on RRS than I was a few months back, yes, this is true, but that's because the situation has changed and so my view has adapted accordingly. More cash, helium surveys positive, the rig contractor signed, and some solid cashflow now pouring in from Texas. If we compare that to 6 months ago where we only had a few million dollars left, flow rates at the NCR had dropped off, and Georgia still seemed a long way off with no guarantees of good CoS figures, we've come a long way.

I'll still only believe Puntland is happening when we get an announcement of mobilisation, there's been too many false dawns in the past with that project. But I feel our other assets will allow for considerable upside from this point, and if Taghmen manage to find us an offshore drilling partner (not AOI) it might put pressure on AOI to get the onshore drilled. Puntland doesn't come into my valuation model when determining a sell out price though, and it won't unless we get a rig mobilisation announcement. I'm more positive than I was because of the other stuff I mentioned above.