.

I suspect the theory the SP is being held back is an unfounded myth. TT is two month since the last update, though not " held up" I would say. There is a lot in the locker waiting to be opened and RRL would release updates if they had anything to say. Possibly TT has simply been getting on and adding drills as they said they would, so nothing new there. It would be good to see the oil flow- and therefore revenues- ticking up to pay for some of the other things going on. PL has said they want a share buy back at some stage and like others feel this would be a help as 2.3bn share in issue for a company this size gives it a bit of a penny share feel at present. How about a share consolidation at some point? One for 5 or 10 could do the trick.

To be brutally frank, RRL have too much going on at the moment and understandably investors are a little nervous. A duster in Puntland would be a disaster for RRL. Having said that, there has not been any denial from all involved, that I can see, of the rumours of an oil deposit at least in line with what is expected.

However, I have had a liquid lunch and don't even know what day it is!! ;o)

Happy easter all. We all have our own views, which is good. I still feel news has been held (not puntland as we are not the operator) to coincide with the launch in the US.
The brochures go out on the 9th and I feel more shares will be taken up around 12p.
If good news was given out in the form of rns's the sp could climb at a rate. In my view very cheap shares being offered to the yanks.
Will news flow at a rate after the 9th, maybe it will. :-))
Nothing wrong with the amount of shares as long as profitable assets are purchased . Share consolidation - never heard a good word after one has been done.

Your not DRUNK are you kim? lol

Hic! :o)

Hope you all enjoy a good Easter and a nice break from all this. OH! please no share consolidation I have had enough of those thanks. Who has suggested that DC? Which tipple are you on this weekend Kim? Anything that takes your fancy I hope. I must admit I am going to try to be good, why heaven knows.

Happy easter 3m. Same view as me on share consolidation, NO WAY!
coeliac1 mentioned it - post 3247.

Plenty of gts over the weekend 3m. Sounds like kims hit them already. lol. Again have a very happy easter.

Please coeliac 1 go away with even the thought of share consolidation. We need to go back to where we were this time last year first and more. Must admit a liquid lunch seems good to me but as I said going to try to be good. Same to you DC just enjoy a pint or two down the local and whatever else you choose to do. I am sure PL will be wooping it up where ever he is!!!!!!!!!!

See Gibbys still around on OTC mmmmmmmmmmmm!!!!!!!!!!!!!!!

Range are at 90 days drilling/testing on 17th April. :-))

http://dissidentnation.com/why-is-april-15-so-important-for-puntland/

from ll,

http://puntlandi.com/?p=30632



Questions asked to the president were about ,Puntland’s oil exploration, election, security, Journalism laws, formation of political parts, and job creation for the young talented generation of Puntland.

President was very optimistic on all questions asked by university students and other participants .President said, Puntland is going to the right direction of prospect and development, and people should support their government .

When asked to give brief information about the first oil exploration made in Somalia for 20 years which is being made in Puntland , he says, Puntland will soon see its dream, and Puntland people as well as whole Somali people would benefit the project, he says no one would be rich in one day.

http://www.worldstocks.co.uk/forum/viewtopic.php?f=3&p=2677&sid=d1467ce4fcd1700d9295354be4fa3eb5#p2677


Although I have been reading these boards for months but this is the
first time I post here.

I have spent the last weekend in our part of the world here looking at
some information that I have at hand (well analysis and plans) in
additional to some technical knowledge of having to look at wells on a
daily basis for so many companies, their drilling plans, casings,
etc….


On Feb 23rd, they reached 1,230 meters and cased which means they have
gone through the first formation Jesomma (Shale / Sandstone /
Siltstone).


On March 7th they report that they have reached 2002 meters which
means they were just at the top of the Qishn primary target. The
interesting in that release is that they have said nothing encountered
above 1600M which is just above the Gumburu formation containing
(Shale / Siltstone/ Sandstone/Limestone). Then they say they have
encountered HC for 400M up to 2002 which is inline of where most
producing wells in Yemen Are. 80% of wells in Yemen range between
5,000 to 7,500 feet. Before they case and go into the Qishn, they must
do a wire-log to make sure they adjust based on shows (such as gas)
and any potential influx. At the same time rumors started flying that
it is commercial and I believe they have commercial oil in that part
and I will explain why.


On March 19th, they have reported a depth of 2,384 which mean they are
in the primary well. The plan is to do wire-line logging after TD of
3,800 m. However, nothing can prevent them from doing an intermediate
wire-log if they have encountered HC in the Qishn formation before
they proceed. I know I might get smacked by most of you on this. They
said they have nothing to report which means they are telling us the
primary reservoir has nothing!!! No (they already did before), Where
did it go? Guess what it has already migrated to the top 400M before
this formation as the closure is at 1600M instead of their anticipated
2100m. This means that the Qishn is a fill to spill up to the first
limestone at 1600. Remember that their data is based on 1950s and
1980s 2d seismic.


If we take the drilling rates between the above it is about 27M per
day which puts us today at 2900m give or take. The second target is at
3400m. I believe that on March 19th they have surpassed the Qishn
formation before its anticipated end at 2500 because they have put a
wire-line now and they know. If we get a report this week saying they
have encountered HC again during Amla’ah/Marib/Hammnlei formation this
means this wells if loaded up to 4,000m and would confirm offshore as
well.


Limestone starts again at 2500 which can be fractured to spill. At
3600 is the start of the basement which can be fractured.


When someone said they have found billions. This would have been
interpreted by people and engineers that since the Qishn formation has
already spilled up to the closure at 1600M, what can prevent this
happening from the basement up to the closure!!! Fill to Spill.


Hope the above helped.

Re: Fill to Spill Analysis (Puntland)
Sun Apr 08, 2012 5:04 pm

Thanks for all your comments. I am not here to ramp or de-ramp. I am not sitting on a rig or in Africa. I cannot disclose what I do but I have reviewed lots of wells and development programs in the profession I work in. Some have hit, some u can saying they don't know what they are doing.

Lets go back again to march 7 announcement. They explicitly said WORKING (emphasis here) hc system. They could have just said hc shows which can mean motor oil on sand. Why would they say working? This technically would mean that enough fracturing and pressure has allowed hc to accumulate. They r lucky that the seal at 1600m was intact. Hence no migration to surfacewhich mean commercial oil. Otherwise how can it move.

There r two scenarios here:
1) the 400 m has extended into the qishn formation (which was reported being at that depth on the 19th) and hence nothing new to report as they mentioned. Further drilling can confirm a longer column. This has happened before like with gkp so it is not out of the ordinary.

2) nothing to report can mean the qishn formation is empty and hence all the oil is in that 400m. I speculate that there is nothing more down there unless there is another non fractured formation at the 3400 level. As I said most wells in Yemen are between 5000 and 7500 feet. The same is the new well discovered in Kenya.

Hence mike if Kenya and shabeel have the same pay geology, I don't think a 10km would be significant. I would be more worried about jka where they have surface seeps as they might have a harder time finding the intact reservoir.

I was invested in a company called vast exploration. Shallow seeps, komentan shows, etc... 900 m column. But guess what not commercial in the bottom where the 900 was. No cap above that. It seems that the fractured cap is deeper and now they need to drill another well with NIKO. Drill site was wrong.

I think and just speculating, 400m is a full pay. A first test should pump over 25000 barrel if good pressure. Those saying billions they probably run the scenario I explained earlier.

40% probably of success is there now for a reason. Working hc system not just hc shows.

U re free to copy and paste

Cannot see gibby yet. lol

Gibby has been flying around for the last few days. I cannot believe that you haven't noticed his name so be it not on this RRL. Which Money am do you have? If that sounds sense as I am so so surprised that you have not given him a few quips!!!!

Only joshing, bit worried non of his kerchingggggggggggggggggs here though. lol
A big one for rmp lol

Must have missed that one DC he is probably too busy down at the Peckan High Street stopping muggers etc. haha!! or dealing with the trotters. No offence Gibby - Hope you were not the swimmer who got arrested at the boat race!!!

Lol 3m, my team oxford were in the lead till that --------- swimmer got in the way. lol