RRS range resources limited

Tried to understand recent 3B share alocation of 64,820,000....

  1. 192 Posts.
    Tried to understand recent 3B share alocation of 64,820,000. Made up of 45,000,000 shares for first hydrocarbon well drilled in Puntland and 19,820,000 unlisted 2017 options exercised.

    15,000,000 unlisted options 2017 for 0.075p issued earlier this year in lieu of Corporate, advisory, underwriting, consultancy and facilitation fees. Leaving 4,820,000 options, I believe are of the 4,826,260 Directors participation rights issue.

    45,000,000 ordinary fully paid shares to be issued upon completion of first hydrocarbon well drilled in Puntland as per original agreement.

    2006 Annual Report: The issue of 900,000,000 shares and 225 million options unlisted ( 5c - 1 oct 2010) upon completion of first hydrocarbon well drilled in Puntland.
    ( subject to necessary shareholder approval)
    900,000,000 share consolidated at 20/1 = 45,000,000

    So this indicates that the first drill is completed, and what is interpretated as a Hydrocarbon well?
 
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