Haven't seen a more apt heading than "once upon a time" for a long time. On so many occasions when rrs/rrl were drilling in Georgia ( sorry when strait were drilling in Georgia) I got the urge to sell my shares. But I didn't sell them then. On one occasion I remember reading an RNS that was issued where they had on dug a few hundred meters in 50 days and they expected to drill ten times more in a matter of days. I thought that was an insult to any self respecting persons intelligence. I raised this point on RUM. Within minutes the soldiers were out telling me to be patient, do my research and calling me names. I felt that was the last straw in my 18 months of being invested in this share no timeline was ever met and it seemed like none ever would. PL and his merry men on RUM knew how to keep PI' s interested believe me. JR would talk about the Texas sale at $200-$250m. There was 21 wells to dig in 6 months in t&t. The Herrera drills to look forward to and of course Puntland. I felt even if Georgia was not upto expectation the rest will see the SP not slide too far. My lucky break came when I got barred from RUM for what I would call showing my disappointment with the management. That vice like grip was gone and I started to think for myself. I was fortunate to have sold my shares at a slight loss after holding them for 2years. I sold out at an average of 12p my b/e was 13.5p. Range had almost like a cult following. PL was being hailed as what would seem like a messiah. The only thing he is good at IMHO is raising capital. Even though ( as the saying goes) "there's one born every minute". I don't think anybody who's been burnt on the past will touch these again. So the heading at the top " once upon a time" could be a new name for RRS once they have done the merger.
RRS Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
