.

3M, no offence taken. i just didn't want you thinking i was after advice.
regards

Alex

Shame they did not test......that's why the sp's have been slaughtered.....RRL will recover...no doubt....the other RMP...not so sure.....as nothing to fall back on that might drop below 10p....ouch.....but Range should recover...I'm sure about that....on to the next well.....not the best time to be in equities...and so far most of the wildcats have not come up to scratch...next up is Max Petroleum's deep well....and BOR's Stebbing well....

I think I was pleased to be out this afternoon . You know the risks when you invest in a company like this . Far from a market pleasing RNS. Anyone still left that was invested here, lets keep our heads up and hope for a next better drill result.

Bet you were glad to be out today DC never thought I would see this drop to 5.65p but it happened at one stage today however like you say lets keep our heads up and hope it recovers soon RMP had a bad knock so I am sure you are pleased you took profits from that.

Hi 3m, In blunt terms the market was looking for a commercial strike and x amount of barrels. Cannot believe they have no testing equiptment in the country. Hmmmm
does a plumber turn up to your house with no tools.

Hi DC what a load of crap far worse than BT I would suggest.

I thought you were saying I was talking a load of -----. perhaps I am.
You can never really get to the bottom of a RRL RNS.
Now you think was the testing gear not at hand a deliberate ploy as its non commercial.

or

as some investors are saying there could be 100 million barrels in the 12 - 20 mtr zone
not the 300million but still good.


Not much between the two really.

Not intimating you were talking a load of .... just agreeing how ludicrous this is. Nothing we can do out of our hands as they say.

I know 3m. Will not be buying anymore.

Horn down 51.23%

UPDATE: Horn Petroleum Down 43% After Lackluster Somalia Report

The company, today provided an update on the drilling program in Puntland, Somalia.

The Shabeel well has reached a total depth of 3,470 meters and has encountered metamorphic basement at a depth of 3,430 meters and is currently being suspended for future testing. The well has encountered additional potential net pay sands in the Jurassic Adigrat Formation at a depth of 3,246 to 3,430 meters, several of which exhibited oil and gas shows. Petrophysical analysis of the well log data indicates up to 3 meters of potential hydrocarbon pay in several thin sand units, AOI said. They are not considered to warrant testing at this time, but do further confirm the existence of a working petroleum system.

The Shabeel well is operated by Horn Petroleum Corp (HRN.V). Africa Oil holds a 51% equity interest in Horn Petroleum which in turn holds a 60% working interest in the Dharoor and Nugaal permits in Somalia. The other partners in the blocks include Range Resources (20%) and Red Emperor (20%).

AOI is now at $6.77, down 7.26%


Read more: http://community.nasdaq.com/News/2012-05/update-horn-petroleum-down-43-after-lackluster-somalia-report-second-most-active-on-tsxv.aspx?storyid=142091#ixzz1v9nJb25q

Another view thanks to winestock -


Very stange announcement today!



Was it purposely ambiguous - why not just spell it out!?

So the 12-20m in the UC may be commercial but they don't want to tell us yet , & the 284m lower down is not worth testing......or is it - the door's left open!?
As for the test kit - that was shipped out there weeks & weeks ago as stated in an RNS.
Also they could test with out the rig if they wanted....doesn't add up!!

So they're stalling IMO

For what reason - Denial? or Politics/Security?

What ever you believe, today would not be the day to sell, especially on the predictable AIM downspike.

Ride it out & see how Shab-n pans out IMO

They'll be some interesting fall out after today & still much to learn IMHO

WS

RNS 23RD FEB 2012 Im no oil man but this must be the testing equiptment they reckon is not in the country ?


Drilling of the Shabeel-1 well is expected to be completed before the end of March and testing equipment is currently being mobilized to the site.


http://www.rangeresources.com.au/fileadmin/user_upload/asx/OperationsUpdateandAppendix3b230212.pdf

So between the operator and partners they had 2 and three quarter months to get
the testing gear out there. My opinion only we are being played for time .
That was one big slip up in the RNS today.

Keeping hold of my stock till we see the results of this and the next drill, going to be very interesting one way or the other. I may be barking (woof,woof lol) up the wrong tree, will have to wait and see.

Not having the testing gear could delay the results 4-6 weeks at a guess.
Works well either way - if there was a large find it can be delayed not to endanger the next drill. If they know its not good, they will be well on the way with the next drill perhaps with some better news as it proceeds.

Horn ended up 50% down came off worse then Range or RMP.

I personally believe this is outrageous the way they have made their announcements. a lot of people must have already known hence the continual fall of the SP. How could they put out a rNS on monday and 3 days later say that the drilling has suspended. In between give updates on US and Trinidad. again a ploy to soften the bad news but it hasn't worked. Also saying in yesterdays RNS that the continual fall in the SP is due to the market conditions and rest of the year remains on target. He had already warned his mates. How comes we get no more Q&A emails posted here from PL ? It's strange why the sudden halt,

Very good points.

Perhaps PL has tested that runway in his private jet. :-))