.

Lets HOPE so

Puntland Drilling Update


PUNTLAND DRILLING UPDATE

Range Resources Limited ("Range" or the "Company") provides the following update
on the Shabeel North well currently being drilled in Puntland, Somalia
by the Company's Joint Venture Operator, Horn Petroleum Corp. (TSXV: HRN).

An open hole Drill Stem Test (DST) was conducted over a 50 metre gross interval
(1910m - 1960m) which contained several sands in the upper portion of the primary
Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm
Cl-) without any traces of oil. The current plan is to drill ahead to the
originally planned depth of approximately 2400 metres which will penetrate the
remaining section of Jesomma sands at which point the entire section will be
evaluated by electrical logging to determine if further testing is warranted.

anyone know what "fresh water (1200 ppm
Cl-)" means - looks like Putland is a waste of time - 2 holes and 2 negatives !

no rns from RMP ! RRL wanted to show they were first out of the trap with the bad news - nice one PL

Great news

Horn down 44%

The price of water = Very expensive?

Very much looks like the higher end on the share consolidation of now 20 for 1

Where is that information; I know they were talking either 10 or 20 to 1. Was not aware that decision 20 to 1 had been made?

Has not been made yet. I would guess they will want a share near a £1 for institutions
to buy in. Pl did not talk of 20/1 a couple of months ago it was more 10/1. The 20/1
has only been talked about by PL in the last few weeks.

What beats me on this share sp, is that the share price is easily worth 10p a share........Even with the disappointment thus far on the "Puntland" drill. Trinidad is where the real value for Range!

FoxDavies Daily Monitor - Range Resources, Red Emperor and Gulf Keystone Petroleum
Monday, July 23, 2012
Range Resources (RRL LN, 4.75p, ▼ 28.4%) & Red Emperor (RMP LN, 8.25p, ▼ 61.6%) The news that the mini well test has flowed water opposed to oil is certainly a disappointment, but not yet the killer that it sounds like it is; it must be remembered that the target horizons are significantly deeper and drilling will now continue to these deeper target horizons. So, while this news is disappointing, it is not yet a "kill" for the exploration well. We are still maintaining our BUY recommendations on the stocks - especially given the prospective "appraisal" CBM acreage in Georgia, and in respect of Range Resources its Trinidadian operations - and retain Target Prices of 27p for Range Resources and 65p for Red Emperor.




Read more: http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Range_Resources_Red_Emperor_and_Gulf_Keystone_Petroleum/50bc45098202.aspx#ixzz21SorSz4L

G, thats whats got up PLs nose.

Should I say it, I am beginning to laugh at FD with the company valuation of target price of 27p. Like when.

I would have 27p above 10p anyway.........Frustrating.

Ah well, if there is oil in the "Puntland well"..........27p will easily be achieved.........Now back to my dream?

Whats your dream G. ?

Oil and Gas.......Seems to dominate my dreams at present!

G. Do we get our 5 million dollars back for the runway we paid for. Something is not
adding up in my head.? With all the interested governments and the news over the last year or so.

Getting money back......What in this part of the world.....Guess not!

Question for you Guy's:

If the Shares are to be consolidated 20 to 1...........Would one buy shares at the current price?

I Would not advise you, this may well work or may not. Investors do not seem to like the word consolidate. I do not sit comfortable with it. PL in my view has purchased assets at a rate of knots, hence 2.5 billion shares. Just wonder now will consolidation
happen then more shares issued to fund drilling. Sadly a long way off what I researched into the company.

When I say '' I would not advise you'' I mean on advice not on the purchase of shares.