What many a punter has obviously not properly considered (mainly because it spoils a 'good story' - in this case 20bn barrels!) is that this whole Puntland Oil Drilling 'process' could/will take YEARS not MONTHS.
Anybody that knows about the timelines regarding Oil/Gas Exploration would know that the whole process from;
-Bidding and awarding of the Exploration Permit
- JV negotiations
- Drilling Contractor Bids/Negotiations
- Rig Availability
- Rig/Crew Mobilization
- Rig Set and Pre Drilling Set Up
Takes years.
Too many punters think the Oil Gas Exploration Companies simply decide one 'slow' day to drill a well - put out an ASX Ann and 'Hey Presto' the rig arrives in a few months and off we go.
I would not be in the slightest bit surprised if there is no drilling - THIS YEAR - by RRS/Canmex.
RRS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
