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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

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01260058

RRL shares suspended on ASX until 19 Jan. hopefully will be good news.

Alex

RMP on a trading halt as well.


http://www.asx.com.au/asxpdf/20120117/pdf/423sqv73s00z7y.pdf

Talk of off shore ?

Up over 12% on big volume...........

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RRS

Trading halt On asx.

Think above was before the halt. not very clear. Not neccessarily until 19th, if the company bring it forward i believe.

Its got confusing as range on their home site are up 15.15% for today. They have put an rns out in oz stating much what Horn have. Should have ours at 7am. Suspension must be off?

Thank you goldfinger for the charts you have produced.

The suspension did not even last a day. I bet that caught a few TRADERS out.

http://www.moneyam.com/action/news/showArticle?id=4292340

That's a lot of shares in issue.


Issue of Shares

Range Resources Ltd (the "Company") is also pleased to announce the issue of
the following securities:

* 18,366,450 Ordinary Fully Paid Shares to be issued in a placement at an
issue price of $0.115 per share as part of underwriting and placing
agreements in relation to the listed options ($0.05, 31 December 2011)

* 20,890,957 Ordinary Fully Paid Shares to be issued upon exercise of
unlisted options ($0.1898, 30 September 2016)

Application will be made for the 39,257,407 new shares to be admitted to
trading on the ASX and AIM. Trading in the new shares is expected to commence
on or around 24 January 2012.

Following the issue of these securities the total number of securities on issue
are as follows:

2,092,495,032 Ordinary Fully Paid Shares (RRS)

855,166 Unlisted Options (£0.04, 30 June 2015)

7,058,824 Unlisted Options (£0.17p, 30 April 2016)

3,177,029 Unlisted Options (A$0.50, 30 June 2012)

20,890,958 Unlisted Options (A$0.1898, 30 September 2016)

15,000,000 Unlisted Options (£0.075p, 15 January 2017)

17,921,146 Class A Performance Shares

17,921,146 Class B Performance Shares

yep thats why currenlty rrl always lags behind rmp sp wise

Bit of profit taking going on with the ttraders at moment. Waiting for it to settle then Ill have some more.

Save some for gibby. :-)

http://www.stockopedia.co.uk/content/fox-davies-capital-update-featuring-african-eagle-resources-firestone-diamonds-goldplat-hambledon-mining-orosur-mining-afren-range-resources-san-leon-energy-london-mining-noricum-gold-63332/

rrl shares - thanks for thinking of me dc :-)))

profit taking seems to be slowing now

There will be an rns with your holdings soon gibby. :-)

Looks like management got the tactics a little screwed for a while with the trading halt and then back so fast. A bit like our cricket team this morning 60 odd for 5.

Suspect we will get a recovery tho.

..........both.