The Texas Venture is what is referred to in the Oil and Gas Industry stripper wells and they do not generate any viable cash flow that a sobber Banker will finance.
The Emperor on the other end is chest beating on targets he cannot attain that boils down to where will the QUID come from?
Finally, the RRS and partners Africa Oil might not be cashflow positive. Africa Oil and CNOOC have also recently parted company when CNOOC was disappointed by the Kenyan well that came up dry - Puntland might be even more riskier considering that any well in Puntland must target a TD of greater than 5000metres with the possibilities of High Pressure that might create an environmental chaos if not well Managed(It might be worse than the Indonesian Mud Flow Crisis or Similar to the recent PB fiasco).
Please always a caveat is in position DYOR.
RRS Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
