.

18% up, buyig at 13.13 p

Just wonder if Horn will release the rns in 10 mins

Have you passed out gibby. :-))

Spud pictures.http://www.garoweonline.com/artman2/publish/Wararka_19/Madaxweynaha_Puntland_oo_furey_caalkii_ugu_horeyey_ee_shidaal.shtml

Wasnt aware broker Panmure Gordon had a BUY RECO on this........ Expecting big upgrades here over next few days.

(from Hemscott Premium)

Range Resources Ltd

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Panmure Gordon
13-01-12 BUY -1.32 -0.06 7.03 0.34
Edison Investment Research
06-01-12 None 0.98 0.06 10.01 0.13

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus -0.18 0.00 0.00 8.51 0.24 0.00
1 Month Change -0.01 0.00 0.00 -0.02 0.00 0.00
3 Month Change -4.49 -0.13 0.00 -0.02 0.00 0.00


GROWTH
2011 (A) 2012 (E) 2013 (E)

Norm. EPS % % 11,650.00%
DPS % % %

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £-5.25m £-1.03m £7.41m
EBIT £-5.38m £m £m
Dividend Yield % % %
Dividend Cover x x x
PER -26.89x 5,500.00x 46.81x
PEG f f 0.00f
Net Asset Value PS 3.70p p p

Good news goldfinger

Whats the time scale of this spud dc??

Bb, there is some uncertainty of the depth of the drill. There is 3 pay zones/ stacked targets. The first should hit a couple of weeks into the drill. As long as we do not hit a granite shelf :-) .This is a much shallower first zone target.

Possible 1st zone hit early Feb.

Thanks dc, will watch carefully as this for me is not long term but will trade in and out.,.

Good luck Bb.

The chart looks eerily similar to a year ago - I think I sold my first lot in early February.

On edit - 10th February.

If everything goes to plan on the physical side for Range, technicals show their could be huge upside as per the chart below. 24p circa resistance. dyor

Have you been a long term holder goldfinger ?

http://horseedmedia.net/2012/01/16/daawo-sawirada-munaasabdii-maanta-xariga-looga-jaray-ceelka-shidaalka-ee-shabeelle-1/

evening dc - what a great day here and more to come - i had to spend the day on business in reading today so missed all the fun!!! just my luck - we knew it was coming... :-)

cheers goldfinger ref the buy note

have a great evening all

Yes always nice to see positive charts for a change!! should get some more upside tomorrow all been well, and a RNS from Horn before Canada opens?, then we should get one from RRL?..

Agree grannyboy. Big question did you buy more today gibby?

Horn Petroleum Commences Drilling in Puntland, Somalia
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2012) - Horn Petroleum Corporation (TSX VENTURE:HRN) ("Horn Petroleum" or the "Corporation") is pleased to announce the spudding of the Shabeel-1 well on the Dharoor Block in Puntland, Somalia and is currently preparing to drill ahead to a total planned maximum depth of 3800 meters. Drilling operations have also commenced on the Shabeel North-1 well with the setting of the 30 inch surface casing and the drilling of a 50 meter pilot hole. Please see attached photos.

To see the photos associated with this press release, please visit the following link:
http://media3.marketwire.com/docs/hrn116i.pdf.

The Sakson 501 rig will be used to drill both wells which are expected to take approximately 90 days each for drilling and evaluation. These two wells satisfy the first exploration period minimum work obligations of the Production Sharing Contracts for both the Dharoor and Nugaal Blocks. They are the first oil exploration wells to be drilled in over 20 years in the country.

The Shabeel and Shabeel North prospects are located on a Jurassic aged rift system which is part of the same system that has proven to be highly productive in the Masila and Shabwa Basins in Yemen that contain an estimated 6 billion barrels of oil*. Both prospects are very large fault block prospects with internal most likely estimates of potential oil volumes of over 300 million barrels of recoverable oil. Source rocks are expected to be rich Jurassic Kimmeridgian shales in the deep portion of the rift immediately down dip from the Shabeel prospects. Reservoirs are expected to be sandstones and carbonates of the Lower Cretaceous and Jurassic systems analogous to Yemen.

Horn President and CEO, David Grellman, commented, "The commencement of drilling in the Dharoor Valley block is a major milestone in the evaluation of the oil potential of Northern Somalia. We have had very strong support from the Puntland regional government and the local communities who are all keen to see development resume in the region after prolonged periods of internal strife. These wells are the first to be drilled into the deep areas of the rift basins and will be key to unlocking the hydrocarbon potential of this unexplored prospective trend."

Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Corporation's shares are listed on the TSX Venture Exchange under the symbol "HRN".

Two wells started - The Shabeel and Shabeel North