The quote at the bottom is from the iii board on RRL via the RRS...

The quote at the bottom is from the iii board on RRL via the RRS board here. It talks about a value of 14c for Range's value per share for Puntland. That puts the 20% of Puntland at 14c x 1.7 billion shares or $238 million AUD.

The following is my calculaton based on the above numbers for RMP. Since RMP has the same 20% share of Puntland RMP's value of Puntland is also $238 million AUD. With say 150 million shares out that works out to 238/150 or $1.59 per share.

Georgia's value was a bit less, say $200 million to RMP or 200/150 = $1.33 a share for a total value of $2.92 per share.

That's better than a 10 bagger should they hit oil in both places or a 5 bagger if they hit in one.


FROM THE OTHER BOARDS:

Posted by Colebrooke1972:


johnweaver - 2 Mar'11 - 09:04 - 22672 of 22682

My notes on presentation by Peter Landau 01March. Notes and my views, usual caveats, DYOR more info on Website. Make up your own mind please it's your money.
01 02 2011 Range Resources RRL
Mkt cap. ?~190m @ 16.65p. (Australian 30c) Cash ?17m, Shareholders 73% AiM. Very liquid.
Assets: Puntland; Oil in Place 905mn barrels, this is a calculated figure by petroleum geologists based on their opinion of the geology and the seismic data available. The gross figure is then discounted heavily and gives a value of 14cents per share.
Drilling contractors from UK have been paid a fee for mobilisation and will arrive Puntland and start drilling April/May.
This is a lower risk play than many realise. Geological risk is about as low as any oil exploration can be. Finance risk is reduced by having funded partners. Management have completed the Seismic Survey and employ contractors, consultants and own staff who are experienced and financially stable. As the drill contractor is.
Political Risk is fully understood, including the assistance of a local politician. The seismic survey which had lines of vehicles working out in remote areas encountered no problems.

Republic of Georgia: Oil in Place, 2bn barrels, Seismic indicates 68 structures that could be oil bearing. Six targets have been identified with estimated 728mbarrels in place. Work continuing to select drill sites. Helium tests on the ground are positive. Helium is released through the ground by hydrocarbons in underlying deposits. The contractor was very confident of his work, but this is not a fool proof test for high quantities.