I didn't bother mentioning offshore Puntland or Columbia because...

I didn't bother mentioning offshore Puntland or Columbia because right now they're not worth much at all. Seismic still has to be completed and until that's done you can't say what the potential is. And the plan, at least for offshore Puntland, is for 3 YEARS of 2D seismic, then a further 3 YEARS before 3D seismic and the first drill is completed. 6 years. How much dilution will there be by that point Given PL's timescales, how do you know it'll 'only' take 6 years, and not 10? Does anyone actually think stuff that's 6 years away is valued by the market? Take a look at GBP- 85% ownership of a block next to Chariot Oil which has been shown by 3D seismic to have 10 billion+ barrels potential, and they're trading at a market cap of £35m, plus their project is much further on than offshore Puntland in a politically safer area. That should give you an idea of the value of offshore Puntland right now- it's very, very little. Go through the roof on an offshore find? Doubt it- it's still 6 years away, there's still problems in the Gulf of Aden, and Range still need to find a farm-in partner and acquire an offshore rig.

3D seismic is also still to be complete in Columbia. Now there's no indication of how long that will take, but given this is Pete Landau we're talking about, I'm inclined to think it'll take quite a while.

The excuse for Trinidad simply doesn't make any sense except at the very start of the acquisition. Now it's definitely just Landau making excuses. It's pretty simple- let's say there's a 4 week delay between a successful well getting drilled, and Range being able to announce this because of Petrotrin (bearing in mind you only have PL's word for this). The first 4 weeks you get the asset, sure, you can use that excuse for no newsflow. But after that you can't because assuming you're constantly doing work on said asset, after the initial 4 weeks you will have continuous news flow, it will just always be 4 weeks out of date.

Put simply- let's say I drill 5 wells, one a week, from weeks 1-5 of getting the asset, and there's a 4 week delay in newsflow. Nothing would be announced for the first 4 weeks. Then in week 5, 6, 7, 8 and 9 there would be drill announcements. This is of course just an example- but quite simply, the Petrotrin excuse makes no sense whatsoever UNLESS work is not actually taking place.

Where are these recent announcements proclaiming good Trinidad results? The last update I can see concerning Trinidad was on the 27th January. Either way, PL has been using the Petrotrin excuse for ages, but as we saw in January, even when the results are published, they've been far from impressive. Or are Petrotrin 'holding back' the flow rates as well?

Do you believe that making a loan to Continental Coal, then proceeding to dilute Range stock, was in the best interests of Range shareholders?