Anyone got any advice on RIFT.

I bought at 7p nearly 3 years ago. They subsequently went to 1.7p and are now back to 7p.
Are they worth holding or should I switch?

Good news roll on 20p next year when they announce a jv.

mitzy j/v partners will need deep pockets. Do you know how much a floating LNG liquefication plant would cost never mind to insure? The story is changing no more pipelines to aluminium plants in Australia?

Flex have 4 already.

Flex will be cheaper apparently so no need for Alcan and the pipeline.

Correction oily Flexlng has orders outstanding with Samsung to build 4 vessels the first of which is due for delivery in 2011.

Sorry halifax, I have re-read the LNG rns relating to Rift's agreement with FLEX. I missed the point at the time and you are correct in what you say about when the first of 4 floating liquification vessels will be ready.

The point that I was trying to make was that the cost of one of these vessels has no bearing on RIFT's financial resources, it is FLEXings responsibility, and them having a J/v with rift will help with any funding issues they may have had.

All in all, I don't see any long term problems for either company and am looking forward to how this one develops. I do hold and will continue to do so.

Yes it seems we will all have to be patient till at least 2011

It would appear that FLEX LNG have put an RNS about potential J/V off of PNG on their website dated tommorrow 19/11/2008. Good news sooner than expected I think.

FLEX have admitted by phone to someone on advfn, that they released a day early in error and have now amended the release date on their web site to today.

So an RNS is due tomorrow 19.11.2008 with reference to selecting a j/v partner, which would suggest more than one suitor to choose from, possibly french, and accelerating the program with regard to extraction of resource.

Oh and another thing, you have been able to buy at below the mid for most of the day.

Yes oily the RNS may be interesting perhaps Samsung can bring delivery forward so that we don't have to wait till 2011, although from the information on the Flexlng website it appears they may have commitments to Nigeria before Rift?