PlebTotally understand your obvious frustration with this story,...

Pleb

Totally understand your obvious frustration with this story, however you are both correct and incorrect

Correct African Oil is claiming that they have dubiously spent their $22.5M and are claiming ownership of 80% of Dharoor Valley. Game time by them in the equation.

Incorrect that because they have spent their allocated money and ceased seismic because of that reason,

What is totally shonky in this siesmic story is that African Oil claimed they would complete 2600Km by Dec 08, clearly irrespective of money spent that was not possibly achievable, so even Schmitt is into the BS stories like Landau and Co. I think African Oil achieved exactly what they knew they would achieve both in cost and timeframes. They didn't just happen to spend the allocated money 4 weeks before the Puntland elections just by chance.

Has anyone seen any photo's of the seismic team leaving Bosasso..............no! That tell you the rest of the story, they have trundelled off to another Lundin oil exploration in Ethiopia, very timely and obviously planned for sometime.

Now assuming we have a debate on the actual expenditure by African Oil, where are both parties actually placed in the stand-off?

It looks to me that African Oil has made their statement that they will extend the drilling timetable using excuses of seismic interpretation and Range believing they will commit to drilling in 1st quarter of 2009. All looks like more smoke and mirrors with the outcome of Hersi's posibble re-election being critical to Range in their relationship with Schmitt and Co.

Both parties cannot be considered as being anywhere near honest with shareholders, probably because they are dishonest with each other as well.