.

Red Emperor Resources (LON:RMP) and Range Resources (LON:RRL) pushed 8% and 6% higher to 20.75p and 9.2p respectively. Both stocks have been getting attention over the last few days after saying that drilling operations on the Shabeel North well in Puntland, Somalia have commenced, adding that the planned target depth of the well is 2,400 metres and drilling is expected to take 45 to 60 days to complete. The well, the second in the current drilling campaign, is being operated by Joint Venture partner, Horn Petroleum Corp (HRN). Red Emperor holds a 20% working interest in the Dharoor and Nugaal Valley Production Sharing Agreements along with Horn and Range Resources. The Shabeel North well is targeting Upper Cretaceous Jesomma sands, which had good oil and gas shows in the Shabeel-1 well 3.5 kilometres to the south. Petrophysical analysis of downhole electrical logs in the Shabeel-1 well indicated a potential pay zone in the Jesomma of up to 12 to 20 metres with an average porosity of 18 to 20%. It is planned to bring the rig back to the Shabeel-1 location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed. Range Resources have also given the market an update that showed a significant increase in Proved [P1] and Probable [P2] reserves for the North Chapman Ranch Project, in which Range holds a 20-25% interest. Range's net attributable interest in proved reserves increased 54%-57%; Range's net attributable interest in probable reserves increased 16%-20%.



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

Horn up 12.69%

Still alot of selling, surprised we stayed blue.

Good to see some of my posts here on the LSE board. :-))

Should be agood rise on the ASX tonight. Needs to catch up.

Is somebody copying them?

God help them 3m .lol They are stating they come from here. What a day with the weather. Need some more news now, thought we may have a near 10% rise today. Markets still very nervous. Looks like spain has only had the cracks papered over for now.

HiI DC
Weather fine here for 2 days now thank goodness, warm yesterday but heating on this afternoon - dry at long last. Spains wallpaper is only for now I think, will e-mail my friend who lives there and is a retired accountant and set up his own business in insolvency and ask him his views on the subject. He is so busy it is not true. He does not hold shares anywhere, he obviously has more sense hehe!! So be it I know he nearly lost all his pension funds a few years ago. RRL had a lot of repeats today in the SP so heaven knows what is going on!! Banks did not recover properly this afternoon from what they were this morning!!!! So I can make out. Anyway tomorrow is another day.

Horn ended up 7.46%

http://www.oilvoice.com/n/Horn_Petroleum_closes_15_million_private_placement/bd6840106694.aspx?__utma=159696636.838357183.1339448648.1339448648.1339448648.1&__utmb=159696636.2.10.1339448648&__utmc=159696636&__utmx=-&__utmz=159696636.1339448648.1.1.utmcsr=t.co|utmccn=(referral)|utmcmd=referral|utmcct=/lnNg4xT9&__utmv=-&__utmk=22018427

ASX did catch up, up 21.50% . Perhaps more news today.

ASX up 26.17%

COLOMBIA FARM-IN FINALISED AND NEW JOINT BROKER APPOINTED
Highlights

* Range to earn 65% (option to move to 75%) interest in the highly prospective blocks PUT-6 and PUT-7 in the Putumayo Basin in return for providing funding for the PSA work commitments (3D seismic and 2 wells)

* Additional opportunity to appraise and potentially re-enter a shut in well on Block PUT-7 which has historically reported reserves of 7.9 million barrels of oil

* 21 mapped leads across the 2 blocks to be the focus of 3D seismic programme

* The Putumayo Basin is an hydrocarbon producing region in Colombia with established infrastructure

* Appointment of GMP Securities Europe LLP as Joint Broker

http://www.moneyam.com/action/news/showArticle?id=4386495

.

""the Colombian farm-in represents a great opportunity
for Range to build its exciting oil and gas portfolio with Trinidad as the
underpin. The Putumayo Basin is a proven producing region with well-established
Companies operating in the region and our 2 blocks are some of the largest
areas on trend which haven't had any genuine exploration and development work
undertaken in recent decades. Leveraging off our significant Trinidad
operations financially, technically and logistically, Colombia further
strengthens our current and future production growth profile as we head towards
10,000 bopd by 2014."

Hi Niceonecyril, sorry to butt in here on this thread, I was interested in your thoughts on Magp I know you like your small/medium size oil companies.

ULB

Great news today, all for the future. Don't think the drop is due to the news not being liked by the market, but more traders looking for short term profits and jumping ship today. We have had a very good rise over the last 3/4 trading days. TT and Puntland news to come and lets hope TT gives us back what the sp has lost today.

Hot, sunny day in the Vale of Clwyd, pity the same can't be said for RRL! :o)

How far are you from them poor flooded people in Wales kim.Cloudy horrible day in the SE. Thursday looks good, then down hill fast.

''Development of the blocks will be funded through existing funds and cashflow''.

No fund raising then, so even better news.