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dreamcatcher - there will have been skulduggery today that would shame Rupert. - until the powers that be get some teeth - it will always be the same!

Sorry, yes rf. Puntland isn't due to start 'til end of year, but currently drilling in Trinidad & Georgia.

Hi Ricardo, hope you're well. Decided a while ago to become a lurker, but this is too much fun to watch and say nothing. I'm in the fortunate position of having reverted to cash about six weeks ago. Partly because I was starting to incur some losses and partly because I just didn't like the look of the markets. In any event I am now the proud owner of just two stocks!

DC, I've spent quite a few years on this BB highlighting potential stocks, some I got right, some I got wrong. I've probably spent more time warning off the unwary from speculative crap; in those cases I was nearly always right, however, I got no thanks for those successes, mostly abuse. So, I'm keeping my thoughts to myself now, but, perhaps it is time to look at stocks that actually generate profits and have little relative debt?

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Kim - I have JDW and ULVR on my monitor (1.7%) and (2.7%) - alas not in my portfolio.

the only one i now have is ASC, and that's because i'm running a short

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/

Skinny, yes those are the sort of stocks to be in right now!

Oil down to $88.50. Bet it won't relate to prices at the pump!!

Today it could have turned out that if a company had announced that it had found a way of turning lead into gold : it's shares would probably have dropped ! it was that bad !.

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Pl will have a few grey hairs ( a few because he has not got much) so will many other
company directors.

Even the price of gold is falling now! Carrot anyone? :o)

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Completely lost DC., you will remember this birthday. Cannot afford the hangover I had today, tomorrow. So nite all and lets hope everything turns around. Just dreading turning this computer on tomorrow.

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August 04, 2011 - Range Resources Old Park Lane Capital
http://bit.ly/pUhhLQ

RANGE RESOURCES LTD 12.5p
Puntland drilling update 4 August 2011
Range has announced that Africa Oil, through its newly created company Horn Petroleum Corp, is in the final
stages of preparation to commence a two well exploration drilling campaign in Puntland. Two drilling
locations have been selected in the Dharoor Valley Block and Range anticipates that the first well will spud in
the early part of Q4 2011.
Africa Oil, the operator of the Puntland PSAs has entered into a letter of intent for the creation of a new
Puntland focused oil and gas entity to be called Horn Petroleum Corp. This company will be created as a
result of the sale of Africa Oils subsidiaries that hold its Puntland properties.
Horn completed a $41m private placement on 2 August, in which Africa Oil subscribed for $10m. These
proceeds will be used to fund Horns share of the drilling costs. Africa Oil will have a c.50% interest in Horn
when the transaction completes and will provide management and technical services.
Contract negotiations for a drilling rig are at an advanced stage and we expect a finalised agreement in
August. With Somalias current famine crisis and large numbers of displaced people in mind, the Puntland
government and the Dharoor Valley communities are fully supportive of the partners moves to commence
drilling in Q4 and have stated that they will make every effort to ensure that the project progresses safely.
Drilling locations for both exploration wells have been selected over two highly promising prospects in the
Dharoor Valley Block. Each well will target gross best estimate prospective resources of 300mmbbls and
375mmbbls respectively. Range has a 20% interest in the licence, with Horn Petroleum (operator) and Red
Emperor Resources each holding 60% and 20% respectively.
The Puntland government has allowed milestone target dates within the PSA to move the commencement of
drilling into the fourth quarter, rather than the original date of 27 July 2011. In addition, partial acreage
relinquishments in both licences have been finalised and approved by the government.
Range is entering a very exciting stage of activity in Puntland as mobilisation looks ever more likely. With
exploration drilling continuing in Georgia and an aggressive development programme also underway in
Trinidad, we believe that the current share price represents a great opportunity for investors

;

Well I was going to switch off but glad I did not, you see, I have been thinking for months now that these have never done anything since the 2 AXS enquiries as to what reason these were going up. I have never wished to broach the subject as I thought I would get some answers I did not want to read, I agree with your thinking - but probably we won't get the answers we want. Look back to the price of them when the 2 enquiries took place and you will note what I mean.