.

http://fox-davies.com/emails/views-from-the-trading-floor.aspx



Red Emperor Resources (LON:RMP) and Range Resources (LON:RRL) slipped 8.5% and 5% respectively after both companies said they have revised their exploration strategy in Georgia to focus on coal bed methane gas that could generate revenue within 18 months of drilling. The two oil companies, dual-listed in Australia and England, said they will focus on low-cost, shallow appraisal drilling around the Tkibuli-Shaori coal bed methane field. The Tkibuli field has been estimated to contain around 0.4 trillion cubic feet of coal-bed methane gas. By prioritizing exploration around the productive coal seams, the companies have the opportunity to make early discoveries, add proven reserves and look to provide revenue potential from the Tkibuli coal bed methane field within 18 months from the start of drilling. The partners have also executed a conditional agreement with the Georgian Industrial Group regarding the joint development of the project and providing a commercial offtake for 100% of the gas produced. Georgia remains almost entirely dependent on imports of foreign natural gas and gas production from Tkibuli, and therefore, could immediately be fed into the local energy market. Range holds a 40% stake in Blocks 6a and 6b, where the Tkibuli field is located, Red Emperor has a 20% stake and Strait Oil holds the remainder. The next snippet of news from both companies should be another update from drilling at the joint asset in Puntland Somalia.

Horn up 3.8%.

Just beginning to think have we found all the oil we are going to now ? Horns sp
does not seem to show any leaks in news so close now to TD. Range struggling to add more then a 1% rise. Rmp at 30p seems to be held back, wants to climb higher.
Very nice surprise if there was an announcement to say more oil zones found,you never know but I dont think it is going to be.
Range please by all means prove me wrong, with the over due now Puntland update.

Afraid i dumped rrl the other day but still hold rmp whilst in profit.,. gla

Perhaps you have done the right thing Bb ? Rmp only has Puntland in the near term.

Going to need a good strike to see rmp back at 45p + levels

Being played by mm's sudden lift at 16.28 hmmm

Roll on next Tuesday 15th, there should be news one way or the other by then.

http://af.reuters.com/article/somaliaNews/idAFL5E8GB3LG20120511?feedType=RSS&feedName=somaliaNews&utm_source=dlvr.it&utm_medium=twitter&pageNumber=2&virtualBrandChannel=0

Horn down 3.75%, no leaks this week of news.

Just watching Horn quarter of an hour ago down 9.75%, down now just over 8%

The world has gone crackers - a little like myself. Bt has given my neice another pile of crap tonight so under the douvet for me hopefully to remain there for a good few hours. Nite Nite.

I will give you a shout, with any good news 3m.

Hope it is you that is shouting me and not the mortician haha!!!

Horn closed at1.45 0.15(9.37%) down . Not nice.

Page 3 - First two wells in program have made two apparently significant oil
discoveries in Kenya and Somalia



http://www.africaoilcorp.com/i/pdf/AOI_May_2012.pdf

Great news for RRL holders. The whole area and the next drill should be derisked some what now. This should now reflect in the sp recovering. The 15th should be the big day with perhaps Farole announcing the find before Horn passsing it on to Range and
RMP.

Where has all the Range investors gone, taken to the hills. lol

So last nights fall for Horn just looks like the usual tree shakes pre good news.