.

Or buy some rrl shares .lol

RRL held on the ASX

Horn Petroleum Corp. Heads into 2nd Day of Trade Following 186% Moon Shot on Friday
9/26/2011 8:05 AM by MidnightTrader.com Staff from Midnight Trader in Investing, Horn Petroleum Corp. (HRN.V) starts this morning at $1.00 a share following a 186% rocket shot for the oil and gas exploration company during in its first day of TSX Venture Exchange trading on Friday.

Horn, formerly Denovo Capital Corp., earlier last week completed its qualifying transaction by acquiring all of the outstanding shares of Canmex Holdings I Ltd., a one-time subsidiary of Africa Oil Corp (AOI.V) with assets in Puntland, Somalia, in exchange for just over 18 million shares of Horn stock.

As part of the deal, Africa Oil also bought another 11.1 million Horn equity units in a private placement priced at 90 cents per unit and now owns a 51.4% stake in Horn.


Read more: http://community.nasdaq.com/News/2011-09/horn-petroleum-corp-heads-into-2nd-day-of-trade-following-186-moon-shot-on-friday.aspx?storyid=95785#ixzz1Z65oJhQl

good stuff - glad i waited for rrl yesterday
it will bounce back gl

on Tuesday Sept 27

By Tricia Wright

LONDON, Sept 27 | Tue Sep 27, 2011 6:21am BST

LONDON, Sept 27 (Reuters) - Britain's FTSE 100 index was seen opening sharply higher on Tuesday, tracking strong gains overnight on Wall Street and in Asia, as investors become increasingly hopeful euro zone officials will find a way to stem Greece's debt crisis and stop it wreaking havoc on the financial system.

The blue-chip index looked set to gain 94-110 points, or as much as 2.2 percent, having ended up 22.56 points, or 0.5 percent, at 5,089.37 on Monday

Tangiers Petroleum: Two company-making assets in one investment
10:26 am by Ian Lyall

http://bit.ly/qVi7Ek

The coastal waters of Morocco are under-explored. That may not be the case for much longer with a very favourable fiscal regime and a stable economy.
Peter Landau knows a thing or two about the oil and gas sector as followers of his company, the AIM phenomenon Range Resources (ASX:RRS, LON:RRL), are very well aware.
So, when Range took a 5 per cent stake in little-known Aussie firm Tangiers Petroleum (ASX:TPT) earlier this month, investors on this side of the world sat up and took notice.
Ranges $2 million investment bought a 5.7 percent stake in Tangiers at 40 cents, which provided Landau and his team with an instant payback when it hit 88 cents earlier this month. Since then it is subsided to 60 cents.
However, if Tangiers fulfils a fraction of its potential, then the recent record valuation of the stock could be made to look ludicrously conservative.
For Tangiers, which will list on AIM in the fourth quarter, has what it believes are two world-class assets.
The first is the Tarfaya oil area off the coast of Morocco, which has an un-risked prospective resource of 867 million barrels, with a high-end estimate of almost 5 billion barrels.
The other is a potentially mega gas prospect in Australias Southern Bonaparte Sea, some 250 kilometres south-west of Darwin.
Each has the potential to be a company maker, and farm-out deals to be unveiled by the year-end will reveal whether the oil and gas industry agrees.
The listing across in the UK gives Tangiers exposure to a market more au fait with African offshore oil, and of course access to the deeper pockets of the London institutions when it comes time to invest.
The immediate plan, however, is to find partners willing to carry out the initial drilling campaigns on the two projects as well as some 3D seismic work.
Morocco is one of the worlds few under-explored oil nations, though give it five more years and the country will be inundated by the industrys great and good attracted by the very favourable fiscal regime.
Companies such as Tangiers enjoy a 10-year tax holiday on each and every discovery they make, while the royalty on oil is 10 per cent.
Morocco is a good place to do business, says Tangiers chairman Mark Ceglinski.
It has been untainted by the Jasmine Revolution, has a progressive king and a parliamentary democracy. They are eager for investment and have developed fiscal terms that are encouraging foreign investment.
Tangiers owns 75 per cent of the Tarfaya Block, with the remainder held on a free carried basis by the Moroccan government. The company has eight permits covering a total 15,000 square kilometres.
An independent evaluation by Netherland, Sewell & Associates came up with the 867 million to 5 billion barrel recoverable resources resource estimated cited earlier.
It looked at four Lower-Middle Jurassic prospects in the block La Dam, Assaka, TMA and Trident.
Meanwhile, interpretation of the latest 2D seismic data on Zeus and Little Zeus prospects suggest they are significantly larger than first thought.
Zeus and Little Zeus are big closures, Ceglinski says. Zeus on its own is 1,000 square kilometres plus a very thick unit as well.
We have done some preliminary internal volumetrics and it appears to be quite large large.
We have asked Netherland, Sewell review the prospects and we look forward to seeing their conclusions.
So far the company has identified four prospects in the upper and middle Jurassic and another eight in the top Jurassic intervals.
Early indications suggest there are multiple leads in the Lower Cretaceous, while the Tertiary and Triassic have yet to be evaluated.
The Zeus prospects were found in the Upper Jurassic, which the same oil-bearing horizon drilled by Shell in the late 1960s for the Cap Juby Oilfield nearby.
However it is only recently that interest in the area has taken off. Last year 12 wells were drilled, with eight successes, and in 2009 there were nine wells.
Tangiers wont develop the block on its own. It will farm out a share of the asset in return for up to three wells at a cost of US$25 million each and US$10 million-worth of 3D seismic.
We are opening the data room and we plan to farm it out imminently for three wells and 3D, Ceglinski confirms.
It would be fair to expect a two-for-one farm out, where we would retain half of all of this and get free carried through all the spend.
In Australia, the company has discovered what it believes to be two huge gas finds Nova and Super Nova - sitting below already existing oil fields.
The oil bearing parts are the Turtle and Barnett structures that have the potential to be near-term cash generators for the company and are part of a wider area covered by exploration permits WA-422-P and NT/P81.
Based on work carried out by Schumberger, Tangiers cites what it calls a probabilistic estimate of un-risked gas in place of 71 trillion cubic feet to 148 Tcf which makes the pair potentially huge on anyones register.
The geology points to a major find, as does the nearology. Nearby are the Petrel, Tern and Blacktip gas fields. The latter has a direct pipeline to shore, which cuts straight through Tangiers licence area.
We have allowed several parties intothe data room while we were finalising our technical work, Ceglinski reveals.
We are about to open that more broadly and invite potential farm in partners to review the data. Wed like two wells and some 3D all completed next year.
The cost of this is likely to be around US$100 million for anyone who farms in
We are looking to be carried on that, the Tangiers chairman adds.
And we have 90pc of that project. If we farm out we would still have 45 per cent of something that could be rather large.
The reason for Ceglinskis visit to the UK was to ink in the details of the companys AIM listing. The NOMAD, lawyers and IR consultants have all been chosen. The broker will be named soon.
The only other decision is whether to raise cash as part of the junior market float. With in excess of A$2 million in the bank the company has enough cash in to fund its near-term working capital requirements.
After that the farm-out deals should rake in additional funds.Diluting the investors at these prices is seems unwarranted.
However, a small free float in London may help initially with liquidity while also setting a valuation benchmark.
At the same time, Tangiers is keenly scanning the horizon for acquisitions while developing its current assets.
We are looking at other projects in Australasia, Asia, Africa and North and South America, says Ceglinski.
Well take a look at almost anything, even Puntland!, he adds, referring to the formerly war ravaged part of Somalia where Landaus Range Resources is invested. Although, Peters a little braver than I am.

http://www.biyokulule.com/view_content.php?articleid=3831

Thanks to spikey dt on interactive i i


Have we hit the jackpot !!

Dutchess Opportunity Fund Provides Additional 30 Million to Range Resources, Ltd
Published: September 27, 2011

http://newsblaze.com/story/2011092709400500001.we/topstory.html


Dutchess Opportunity Fund is pleased to announce the 30 Million extension of the Equity Line Facility (ELF) to Australian-based Range Resources, Ltd. With this extension of the Equity Line Facility, Range Resources will have immediate access to funds for any appraisal operations that would be necessary, should their exploration wells result in a discovery.

The flexibility to raise capital at the discretion of the company, and with no obligation to do so, is what makes the ELF such an attractive source of financing for public companies. It allows the management to decide the timing and amounts of each draw.

Ashton Jones, head of Dutchess Australian business development stated, As a result of the downturn in the global equity markets, most traditional sources of funding are not available to companies. Credit is tight, banks arent lending, and this puts companies in a vulnerable position to keep operations going or expand operations. As a result, the ELF has grown in popularity among global exchanges because it fills that void left by financial institutions that have ceased new investments.

About Dutchess Capital
Dutchess Capital was founded in 2000. Since then, Dutchess has been a market leader and innovator in providing ELFs and other unique financing structures for publicly-traded companies.

Dutchess has transacted over $2 billion in ELF commitments globally. Dutchess has over 10 years of experience assisting companies throughout the process, as well as the financial wherewithal to fund the company throughout the entire commitment.

Dutchess sources worldwide investment opportunities, with offices in Boston, New York, London, Seoul and Beijing.

Looking foreward to the Range company update RNS over due now.

Not sure if this is another 30 million or the 30m announced in the 12th Sept rns?
More like the 12th Sept Rns




12th Sept rns -
The Company would also like to announce that it has extended its equity line of credit facility for an extra 30m with First Columbus / Duchess.

Smith 2 approved today



http://screencast.com/t/oWADvUvI

Rns drilling not gone well in georgia with the loss of a collar. Only at a third of depth.
Oh not good.

ASX rns




http://www.asx.com.au/asxpdf/20110928/pdf/421chwdj0fcswp.pdf

Only at 1452 mtrs of 35oomtrs in the Georgia drill. Not good news. Can not see this
being at td before end of October.

Wednesday 28 September, 2011Red Emperor Resources NL
Georgian Drilling Update

28 September 2011

Red Emperor Resources NL

("Red Emperor" or "the Company")

Georgian Drilling Update

Red Emperor Resources NL (ASX: RMP | AIM: RMP) along with its joint venture
partners Strait Oil and Gas UK Ltd and Range Resources Limited is pleased to
announce that while drilling has been hampered over the past 10-12 days due to
the loss of a drill collar in the hole, the drill collar has been successfully
recovered with new drill collars having been sourced and delivered to site late
last week. Drilling recommenced over the weekend and is currently at 1,452m,
with a target depth of 3,500m.

Drilling with continue to approximately 2,500m at which point 9 5/8" casing
will be set before drilling will recommence out to a target total depth of
approximately 3,500m, which is expected to be reached in late September.

The Mukhiani Well is targeting the Vani 3 prospect which has the following
estimated undiscovered stock tank oil-in-place ("STOIIP"):

Vani 3 Prospect - STOIIP (MMbbls)

P90 P50 P10 Mean

Gross (100%) 41.7 92.7 178.2 115.2

Net Attributable to RMP (20%) 8.3 18.5 35.6 23.0

The geochemical helium survey undertaken by JV partner, Range Resources,
confirmed the suitability of the first drill location with oil exploration and
development prospectivity complementing the earlier seismic work completed on
the target.

For further information please visit www.redemperorresources.com or contact:

Red Emperor
Greg Bandy +61 8 9225 2826

Cairn Financial Advisers LLP (Nominated Adviser)
Jo Turner +44 20 7148 7900
Tony Rawlinson

Old Park Lane Capital plc (Broker)
Luca Tenuta +44 20 7493 8188
Michael Parnes

Tavistock Communications
Paul Youens +44 20 7920 3150
Ed Portman

Background

Red Emperor Resources NL (ASX: RMP) is a natural resources exploration company
with interests in the frontier state of Puntland, Somalia, the Republic of
Georgia and Western Australia.

* In Puntland, Red Emperor holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys. These two
exploration areas cover nearly 36,000km2 and have independently been
assessed to potentially contain a combined 19 billion barrels of oil
in-place. Red Emperor's joint venture partner and PSA operator Africa Oil
Corp. (TSXV: AOI) has signed a letter of intent with a drilling
subcontractor and expects the first well to be drilled in Dharoor in Q4,
2011.

* In the Republic of Georgia, Red Emperor has a 20% working interest in
onshore blocks VIa and VIb, covering approx. 6,500km2. Joint Venture
partner Range Resources Limited (ASX: RRS | AIM: RRL) last year funded a
410km 2D seismic program with independent consultants RPS Energy
identifying 68 potential structures containing an estimated 2.045 billion
barrels of oil-in-place (on a mean 100% basis). Two wells are to be drilled
this year as part of the proposed drill program.

* The Company also has a 25% interest in the Jillewarra Project, a copper and
gold project in Western Australia. This interest is free carried through
until bankable feasibility study,

Dc, you sound dissapointed with the news? but I think its quite positive, the lost collar is sorted and they're back drilling, the T&T news is good, all in all i think very positive news...

yes i agree grannyboy, read it again. Keep me head high, over all good news.
Thanks gb

Operational Update and Strategic Placement

Red Emperor Resources NL

("Red Emperor" or "the Company")

Georgian Drilling Update - Clarification of Previous Announcement

Red Emperor Resources NL (ASX: RMP | AIM: RMP) advises the previous
announcement lodged this morning was incorrect due to an administrative error.
Please see below correct announcement.

Red Emperor Resources NL (ASX: RMP | AIM: RMP) along with its joint venture
partners Strait Oil and Gas UK Ltd and Range Resources Limited is pleased to
announce that while drilling has been hampered over the past 10-12 days due to
the loss of a drill collar in the hole, the drill collar has been successfully
recovered with new drill collars having been sourced and delivered to site late
last week. Drilling recommenced over the weekend and is currently at 1,452m,
with a target depth of 3,500m.

The Mukhiani Well is targeting the Vani 3 prospect which has the following
estimated undiscovered stock tank oil-in-place ("STOIIP"):

Vani 3 Prospect - STOIIP (MMbbls)

P90 P50 P10 Mean

Gross (100%) 41.7 9 2.7 178.2 15.2

Net Attributable to RMP (20%) 8.3 18.5 35.6 23.0

The geochemical helium survey undertaken by JV partner, Range Resources,
confirmed the suitability of the first drill location with oil exploration and
development prospectivity complementing the earlier seismic work completed on
the target.

Old park lane capital report



http://oilbarrel.com/media/pub/var/release_downloadable_file/33351.pdf