(reposted with unnecessary name calling removed – sorry about that, it was immature)
LUIS09,
That suggestion is absurd - you have made it apparent that you have done absolutely NO research or due diligence with a comment like that. Did you even read the operations update? or did you just post the first thing that popped into your head without thinking? Who is the operator in that Kenya block? do you understand what farming out means?
where on earth is jgolllner?? And also – does anybody know who poster PeteD is?
Great to see that announcement on GO, this is a very positive step. I think it might even be a PR tactic by Farole as the average punter would not understand farm in agreements and joint ventures, (as LUIS09 showed with his suggestion), so by focusing on AOI being the operator in Puntland and letting the deal go ahead, Farole's anti Range stance of the past will not appear to be contradicted, since it will appear he is supporting AOI to drill, and NOT RRS. I would wager that RRS will NOT get a mention in GO or by Farole in the future, but the deal will remain intact - timelines for Farole's approval could be months - I am guessing that he will definitely let the Jan 2010 deadline lapse to give the impression of the deal being renegotiated, so no drilling action on any front until well into 2010. This is all an exercise by Farole to “save face” IMO, and if this happens to be the case (and I must stress that the above theory is strictly IMO) I think it would work quite well. Farole would save face by avoiding looking like a flip flopper because the average somali voter would not know the difference between AOI/RRS and deals being extended vs deals being renegotiated.
Oh dear - did I just post a positive conspiracy theory about RRS?? You can have that one for free, cheer squad, do with it what you will!
Maybe CNOOCs rig really will get diverted from Kenya to Somalia at the last minute and surprise all, insurance companies, rig operators, local politicians from both sides love surprises that!! I can’t even begin to explain how ridiculous that suggestion is, on so many levels, Sorry to harp on about it, but it is.
RRS Price at posting:
3.6¢ Sentiment: ST Sell Disclosure: Not Held
