Farole can easily tell his ppl and the world that Puntland Gov did give RRS a good/favorable chance, but unfortunately RRS cant fulfill its obligation by drilling 2 holes by 31 Jan 2010 as set out in the permit. That is RRS’s fault. Then, because of Public interests, Puntland Gov must give that “expired permit� to AIO or others who can bring benefits to Puntland and its ppl earlier. What can RRS say/do? I think that is why RRS turns to Georgia instead. It is sad story but can happen!
In the past, I strongly think RRS will be AVM or EQN. But after carefully looking at all factors (including conditions of the deal/permit), I think RRS is very much different story comparing with the two mentioned companies.
RRS Price at posting:
4.3¢ Sentiment: None Disclosure: Not Held