.

Its up 0.23p, which is incidentally - the spread :-)


On edit - its not now!

Judging by the smell, I can guess your choice. lol

You got your nose too near your arse again DC :O) Surely one day in the next fifty years it will get over 9p?

I'm not going there Chris. lol

Isn't it strange all these small mining and oilie type outfits seem to operate in remote countries, where nothing they announce can be easily verified, don't be another conned lemming!

JOINT VENTURE AGREEMENT ON GEORGIAN CBM PROJECT

Highlights:

- Agreement reached on the joint development of the Coal Bed
Methane ("CBM") and conventional gas potential around the Tkibuli-Shaori Coal
Field with Georgian Industrial Group ("GIG");

- Tkibuli Project has estimated Contingent Resources of
approximately 400 bcf of CBM gas (mean 100% basis);

- GIG is the largest industrial holding company in Georgia;

- The fast-track assessment and development program is designed for
gas production and sales to potentially begin within 18 months;

- GIG to purchase all gas produced on a take or pay arrangements;
and

- Pilot project proposal to be predominantly debt financed,
reducing immediate financial commitments for Range.

Range Resources (LON:RRL) Red Emperor (LON:RMP) – Taking Georgia Forward: Today’s announcement from Range & Red Emperor regarding the CBM accumulation within its Georgian acreage resolves one of the two outstanding issues that has beset both companies, i.e. what’s happening with Georgia? The Deal with GIG is a major step forwards in two respects for both companies as it (i) alleviates one of the key issues regarding its portfolio; (ii) provides the prospect for near-term cash flow; and (iii) means that neither company have to continue to pay for the acreage as the partner will take it forward. Given the nature of CBM production (potentially long lead times before any one well attains peak flow), we are maintaining our carrying value for this asset within both companies. Following this news, we are reiterating on Range Resources our BUY Recommendation and 25p Target Price, and on Red Emperor BUY and 48p.

encouraging days :-)))