.

Cheers skinny

Just wonder how long now before Petrotrin sign off TT. Would think that the US news is out of the way and todays update, Looking forward to this news. Perhaps it has shifted to the top of the intray now. :-))

http://presstv.com/detail/230431.html

I just wonder if this drill is a lot further on then we have been told in todays rns.
In the above posts we have Europes MPS doing secret oil deals. Pipe lines are in place,
oil storage tanks etc, etc,. Just wonder again is the news being drip fed. You have to ask how are all these talks and deals going on ( I dont seem to think the talks and infrustructure in place are a lets say a gamble for if oil is found). Only my view.

Brilliant company video. :-))


http://www.youtube.com/watch?v=YQ7uSuS3Mj8&feature=youtu.be

http://www.asx.com.au/asxpdf/20120308/pdf/424wl7bwtxpkq8.pdf

Following us up just over 8% on the ASX

Should be entering first target about now......oh.....for another Shaikan......hoping for a bit too much there......how's our man on the rig doing ?...

from ii

The Figures – from HORN Website – E&OEE…….


http://www.hornpetroleum.com/s/Dharoor_Nugaal_Block.asp?ReportID=499459&_Type=Dharoor-and-Nuggal-Blocks&_Title=Block-Summaries


The NET Best Estimate and Values for the THREE Puntland Onshore Partners given by Horn Petroleum are :-…….

Block…….Partners………………....Gross Area….Gross Best Estimate …Net Best Estimate
……………………………………………[sq.km.]…………[MMBbls]……………..[MMBbls]
Dharoor…………………………............14,384…………..1,210…………………………………..

…………... Horn (Operator) 60%..............................................……………………..726
…………... Range Resources 20%.............................................…………………...242
…………... Red Emperor 20%....................................................…………………...242
……………………………………………………….....Gross Best Estimate Total...1,210

Nugaal……………………………...........21,784…………..4,083………………………………….
…………... Horn (Operator) 60%.......................................................................2,450
…………... Range Resources 20%..........................................…………………...816.6
…………... Red Emperor 20%.................................................…………………….816.6
…………………………………………………….......Gross Best Estimate Total...4,083

Net Asset Value - to Each of the Partners @ $3/bbl

Dharoor

Horn (Operator) 60%..........726,000,000 x $3 = $ 2,178,000,000 / 120* = $ 18.15 per share
Range Resources 20%.......242,000,000 x $3 = $ 726,000,000 / 2,122^ = $ 0.34 per share
Red Emperor 20%...............242,000,000 x $3 = $ 726,000,000 / 205** = $ 3.54 per share

Nugaal

Horn (Operator) 60%........2,450,000,000 x $3 = $7,350,000,000 / 120* = $ 61.25 per share
Range Resources 20%........816,600,000 x $3 = $2,450,000,000 / 2,122 ^ = $ 1.15 per share
Red Emperor 20%................816,600,000 x $3 = $2,450,000,000 / 228** = $ 10.74 per share

For Shares in Issue at the time of the Dharoor and Nugaal Explorations –
[I would expect these to be Higher by the 2013/14 exploration season]

* for Horn - shares in issue raised from 75 Million to 120 Million by the “compulsory” excercise of 45 Million Warrants at an excercise price of $1.50 - by August 2013 - to provide an additional $ 67.5 Million in working capital for the development and Drilling of the Puntland Blocks.


http://www.hornpetroleum.com/s/Share_Structure.asp *

** for RMP – Shares in Issue following the current 2 x Tranches - announced this week.
^for Range – I have used Current Shares in Issue – to be kind - although I would expect RRL Shares in Issue to be Much Higher by 2013/14 – unless there is some sale or buy back.

Values per share for ........................Dharoor + Nugaal combined

Horn (Operator) 60%.......$ 18.15 per share + $ 61.25 per share = $ 79.40 = £49.79

Range Resources 20%.....$ 0.34 per share + $ 1.15 per share = $ 1.49 = £ 0.93p

Red Emperor 20%............$ 3.54 per share + $10.74 per share = $ 14.28 = £ 8.95

Conversion Factor $ : £ = 1.5947

Put RMP / RRL / HRN in an ISA – they are ALL ISAable !!..….

DYOR......

breathing sand.

http://www.somaliaonline.com/community/showthread.php/62965-Puntland-Finance-Minister-quot-We-Will-Manage-Our-Oil-With-Good-Governance-quot

http://www.irinnews.org/Report/95031/SOMALIA-Benefits-and-risks-of-Puntland-oil

http://www.proactiveinvestors.co.uk/companies/news/39978/range-resources-puntland-chances-look-much-better-after-drill-update-says-broker-39978.html

http://www.uploadlibrary.com/foxdavies/RMPLNBUY08March2012FLASHNOTE.pdf

With Greece out the way, lets hope 13p does as well.

North Chapman Ranch Update
PRNW


9 March 2012

The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000

By e-lodgement

NORTH CHAPMAN RANCH UPDATE

Range Resources Limited ("Range" or "the Company") is pleased to announce
further success in the appraisal and development of the North Chapman Ranch
Field in Texas (Range 20-25% interest), with the successful drilling of the
Smith #2 and Albrecht #1 wells.

Initial gross flow rates from the uppermost pay zone, which is one of four
principal pay zones, in the Smith #2 well reached more than 3.0 MMcfd & 125
Bopd, with more than 7500 psi flowing casing pressure on a 10/64" choke. Work
is being conducted now to remove all of the plugs below the upper pay zone and
combine the remaining lower pay zones to achieve maximum rate and recovery.

The Smith #2 well was drilled approximately 1,350 ft. southeast of the Smith #1
discovery well, further extending the Company's Proved Reserves in that
direction.

The Smith #2 was followed immediately by the Albrecht #1, drilled more than
1,500 ft. southeast of the Smith #2. The Albrecht #1 confirmed the presence of
the Howell Hight reservoir in that area and is also expected to add significant
Proved Reserves to the Company's portfolio.

With four wells now drilled in the field, Range estimates that over 80% of the
structural closure at the Howell Hight reservoir falls into the Proved and
Probable (2P) category. Work is currently underway to revise the reserve
estimates at North Chapman Ranch, and is expected to be finalized once The
Albrecht #1 well comes online. The Albrecht well is scheduled for completion
and fracture stimulation within the next 4-6 weeks.

Once the Smith #2 and Albrecht #1 wells are both online, Range estimates that
its net production and cash flow from the project will increase by more than
200% over current levels.

Yours faithfully

Peter Landau

Good news, lets hope it reflects today. :-))

Superfluous!

Whats that mean. :-))

Sound like a new toothpaste. lol