options to take the lead, page-28

announcement I think a substantial cash and JV offer for Somalia exploration blocks has probably already been made, based on the Conoco research .
IMO, the offer has been used as the source of confidence to option exercisers, who may have been given insider perspective.
The excercise of options has then enabled RRS to hold out financially and for further detailed Conoco research, which has been offered to Range but not yet secured to my knowledge.
On receipt of this Conoco information, I suspect more cash and JV offers are to be expected, and probably more substantial.
I also expect a JV announcement to be held off until nearer the Rights payment date, as a sweetner to those entitled to them.

This is only my speculation. DYOR