.

MMMMMMMMMMMMMMMm!!!!!!!!!!!!!!!!!!!!!!!

no RNS on TT, his flagship and may not match his statement lat week of news this week ! Still haas today though !

DC I can't get my head around around these share buy backs. I don't see why from a shareholders point of view we wouldn't be at least as well off if the cash was distributed as dividend (not withstanding tax considerations).

I thought share buy backs were a scam by management to get their share options to trigger.

Would think TT RNS early next week

SC,The advantage of buy-backs is that, by boosting the share price, they give shareholders capital gains rather than income.

Some companies buy back a small number of shares every year. This is an alternative to increasing the dividend. It also does not commit the company to sustaining the payment in the same way the increasing the dividend would and, again, turns the return into a capital gain rather than income.

Another advantage of a share buy-back is that it gives shareholders more flexibility than a dividend as it allows shareholders to choose when, and if, to sell and realise their cash. This can also help minimise tax.

Shareholders can even, by selling the correct proportion of their holding, get exactly the same amount of cash out of the company as would have been paid if a dividend had been paid instead — however the money may be taxed differently and doing this involves paying broker’s commissions and other expenses of trading.

DC. Thanks for that excellent reply.

May not even happen. Perhaps most of the cash generated from the Texas sale will be put into Colombia and TT.

DC just to say that shares bought back don't have to be cancelled but are often put into treasury. While in treasury thay don't get the dividend, don't count as issued share capital for % holding purposes and are often either sold off later (in such as an equity issue thus avoiding a prospectus in some cases), cancelled, or handed to employees as part of a share scheme.

It makes sense to buy shares while the price is low and sell them later if a need for an equity issue arises. It also hedges a company against a rising price for employee share allotments.

There is now no such thing as authorised capital- it was abolished in the Companies Act 2006.

Thanks c

from ii

http://www.somalinet.com/forums/viewtopic.php?t=308243&p=3698624

http://www.somaliaonline.com/community/showthread.php/65736-Range-Resource-Executive-Says-Puntland-Oil-To-Be-Exported-December-2012.-PICS

Puntland to Export Oil by December 2012
During an open meeting with members of the Puntland Diaspora Forum in Perth, Australia, Range Resources Managing Director Peter Landau stated to the audience of several dozen that Puntland would be exporting oil by December 2012 upon completion of testing in August.


Landau and a Somali support staff highlighted the activities of Range Resources to date. Among the discussed issues was the upcoming flow testing on the Dharoor wells and the spudding of the first well in Nugaal this September.

Range Resources reiterated its support for the Puntland community at home, citing its $250,000 contribution to an air strip in Garowe and $5 Million pledge to the repair and upgrade of another airport in the region.

DissidentNation.com




http://dissidentnation.com/puntland-to-export-oil-by-december-2012/

RRL up 4% on the ASX

Horn up 9.60%

Horn ended 16.80% up

Just wish rrl would move up, it is getting very boreing.

When Europe is sorted perhaps it will.

RRL Still waiting on petrotrin before it gives a TT update. National Holiday in TT tomorrow. Labour day.

Flipping heck it ended up blue - has it had a brain storm?

I might have to sit down for a minute!

Horn is down 4.11% at present, so it can't be anything to do with them. It must be the invisible RNS!

Think I need a brandy!!!!