.

From the RRL homepage up 5.56% on the ASX

Yep 0.19 + 5.6% :-)

Have we commercial oil or not. It makes you think with so many investors following this, will the companies have to give out news earlier then first stated. Leaks seem to be occuring with the large rise at RMP on the ASX this morning. Sps all going the right way anyway, so looks a good day ahead.

http://dissidentnation.com/puntland-oil-find-to-be-announced-within-days/

http://dissidentnation.com/puntland-drilling-reaches-1850-meters/Puntland Drilling Reaches 1,850 Meters



A depth of 1,850 Meters has been reached at the Shabeel-1 well in the Dharoor valley in Somalia’s federal state of Puntland, where oil is expected to be extracted this month for the first time in Somalia’s history.



Workers present at the site stated that until this point every target has been reached, with the expectations of the project met at every step. Workers say that the end of the current Shabeel-1 well project is coming to a close and that there is a great sense of excitement in the camp.

The current Shabeel-1 well exploration is expected to end in the coming weeks and will reveal the first results of the hunt for petroleum in Puntland.

Hirsi Fiqi, Editor

DissidentNation.com

Thanks to nosrepon on ii, On 23rd Feb they were at 1230M and according to rumors now at 1850, if true they have drilled 620M in the last 11days. At 1850 they should have just passed the 412M thick Jesomma (1402-1814M) area into the next Gumbero level (1814-2560M).

According to RPS CPR Jesomma is expected to have 59.8MMbl (net to RMP and equal amount net to RRL) and the next level of Gumbero is expected to have 33.2 MMbl net to each RRL and RMP.

That is a total of 93MMbl to each. This is little over half the volume expected in this well. The deeper Jurassic is expected to have 88MMbl net to each in primary and secondary reservoirs.

Therefore they are halfway down in terms of volume find. Just as the depths indicated in the previous rumors turned out to be correct, the current rumor of depth at 1850 sounds correct as they seem to have drilled 620M in 11 days i.e. 56M/day. In fact Jesomma's 1402 to 1814 reservoir sands should have been drilled much quicker as there is less resistance unless there have been delays due to other problems. I suspect they are already much deeper than what rumors state and they have already flow tested Jesomma before any rumors are allowed to leak out.

The timing of the rumors are also interesting. As they are at the bottom of Jesomma perhaps it is time to leak out something as it is a significant level, may be the bottom of this flow testing level.

At 1850 they should be entering the next level of Gumbero which is about 746M thick and contains about 33.2MMbl. After that they will reach the 121M top seal of the Jurassic under which has Primary and Secondary reservoirs containing 88MMbl which is less than half the oil to be discovered. According to RPS CPR in Dharoor it is more likely to have major part of oil in Jesomma than Primary and Secondary reservoirs and vice versa for Nugaal.

Every time a level is leaked it has some significance. Drilling through Gumbero (current level) should be quick as it is partly reservoir.

Expect news sooner than anticipated and there is still time to enter because the Big Boys will take a few days before they make a decision around the table. They may also wait for more definite news. IMHO - No recommendation

http://www.vancouversun.com/business/Vancouver+based+Africa+defies+Qaeda+billion+barrel+Somali+well/6252082/story.html

The usual step in at 16.28 hrs. No complaints.

From ii -

This is for anyone just coming onto the BBs and was wondering what was going on or anyone who is just browsing to see if there is anything of interest.

We now have several Somalian sources stating that oil has been discovered and that an announcement will be made when President Farole comes back to the country in 2 days time.

Here is the main source as posted by hm-df, for oil being discovered


http://horseedmedia.net/2012/03/05/bishaaro-puntland-oo-shidaal-laga-helay/

Its been published on two Somalian based Forums, where the contributors of these forums seem to be very happy.


http://www.somalinet.com/forums/viewtopic.php?t=300203&p=3569325

The translation for this text was posted by Belcourtoi and is as follows:

"Official sources coming from Hoorseed Media have confirmed that the search for petrol has came back positive in the region of Bari, the Media have been told that the well drilled in Shabeel-1 for during the last month and 18 days have found oil.

Journalist have said they couldn’t get in touch with Africa Oil, searches for the Oil in Shabeel-1 have started on 16/1/2012 and are believed to have estimates of about 2billion barrels, a ceremony will be organised on the return of the president who is away from the country and will be back in the next couple of days."

Then you have Hirsi Fiqi, the editor of Dissidentnation, who has been posting consistently over the last few weeks about oil finds (please look through his blogs) and he claims to have inside sources. He has also made the claim that an announcement will be made in a few days time. This was posted by Spoonkey at 02.00 am


http://dissidentnation.com/puntland-oil-find-to-be-announced-within-days/

The article says

"Earlier we reported that drilling at the Shabeel-1 well in Somalia’s Dharoor valley had reached a new depth of 1,850 meters, and that on-site mood seemed to be at a very optimistic level. On top of the new targets, we’ve also been given a different set of information from a separate contact in the region.


Our contact in Bari has told us of a certain discovery of hydrocarbons that correlates strongly with previous leaks we published here, and he also tells us that the finds in the Shabeel-1 well will be publicized in days. This puts the timing of the confirmation ahead of an expected late March assessment and announcement.

We’ll have more information on this situation as it develops.

Hirsi Fiqi, Editor

DissidentNation.com"

A proof of possible authenticity to this claim was made by hm-df where he analaysed the photo which seems exclusive to Dissidentnation of the drilling, as the picture can not be found in any other website, with official ariel photos of the site and by looking at specific vehicles and landmarks would confirm that the two photos are of the same area. Thus proving that Dissidentnation has a man on the ground.

This one of the official photos


http://puntlandi.com/wp-content/uploads/2012/01/Shabeele-11.jpg

This is one of photos from Dissidentnation:


http://dissidentnation.com/wp-content/uploads/2012/03/1850meters.jpg

Obviously without an RNS nothing is confirmed but if you regard all the above as evidence things are looking good.

Good luck all

Exciting somewhat, hopefuly. Trust you are getting plenty of sunshine and liquid refreshment DC. Wish I had got myself some RMP but went for another pile of crap - oh! I can't win but did get a few more RRL as you know. Got rats in my shed and Oh! Boy I hate the dam things put stuff down and one block has gone but am petrified, wish I was somewhere else at the moment or the Piper would come and whistle them away (cockroaches seem more appealing). Hope the champagne corks are flying before you return.

3M, I had a rat invasion in the foundations of my house, they were getting up to the loft between the cavity walls, they were all over the house, i got rid of them by putting 3 traps down in the foundations and poison, on many occasions was catching two at the same time in each trap, i stopped counting at 32 but i got them all.
Reckon it took me about 4 months, but if left there would've been hundreds if not into the thousand if not eliminated within a year...

Thank you for the above Grannyboy, I saw my first on Thurs. evening and went to my neighbours, as they have 2 children under 5yrs. he being a consultant, to be told by his wife that he the husband had seen 4 playing in the childrens sand pit. I think my jaw locked to the open position. Even more so whenst she told me the husband had said she had to wash to sand pit and the sand uuuugggggggggggggg!!!!!!!!!!!!!!!!!!! and asked me to let her know when I had got the stuff. I have not been back as I was horrified that they had done nothing about it. I went to a farmer friend and he gave me the appropriate, I hope stuff which I put down on Fri. afternoon and alas today 1 block as I said had gone. One never has one rat there will be enfamile or more. I am so aware how they multiply and could not empty a trap I would be heart attack material - unfortunantely I live solo and am finding it difficult. I feel so sorry that you had them in your home, it must have been horrendous for you. GL with RRL .

Sorry to here of your problems 3 monkies. Your shed must be nice and warm and they have all come round. Very nice here, low 70's in the sun . Very nice resort.

I think the general consensus is that we are being held back until our upgrade on the OTCQX

3m, get yourself a Jack Russell and keep him hungry! Should be sorted in no time!

Just posrted on twitter cant vouch for it being true or not.....

#Oil Strike CONFIRMED in #Somalia - EXCEEDING expected totals http://bit.ly/w3v25x #RRL #RMP #Puntland

RANGE TO TRADE ON THE US OTCQX INTERNATIONAL

Range Resources Limited ("Range" or "the Company") would like to announce that
it has upgraded the trading of its American Depositary Receipts ("ADR's") from
the OTC to the OTCQX International trading platform. It is anticipated that the
ADR's will be available for trading from Tuesday 6 March 2012.

The ADR's will initially be trading under the code RGRYD for the first circa 15
days of trading after which it will revert back to the original code, RGRYY.
Each ADR represents 40 ordinary shares listed on the Australian Securities
Exchange under the symbol "RRS" and on the AIM market of the London Stock
Exchange under the symbol "RRL".

Range's Executive Director, Mr. Peter Landau said "Gaining access to U.S.
investors and being able to share Range's story and value proposition are very
important to our future. We're confident that the combination of being quoted
on OTCQX paired with the extensive expertise and support of advisor and
Principal American Liaison Dahlman Rose will provide the connection we are
seeking with the U.S. investment community."

Managing Director and Co-Head of Dahlman Rose's OTCQX Advisory Group Stephen
Nash said, "With its industry leading OTCQX PAL Advisory program, Dahlman Rose
has the expertise and network to raise Range's profile among U.S. investors.
Several high calibre international companies have recently taken advantage of
OTCQX's cost-effective U.S. quotation enabling foreign equities to be traded
during U.S. market hours using U.S. Dollars and be held in U.S. brokerage
accounts."

From the Range home page up 2.63% on thev ASX. With us on the OTCQX now, perhaps we now stop being held back. Should be a good day.

Updates soon as well from the company.


http://www.rangeresources.com.au/fileadmin/user_upload/asx/ASXAnnouncement-ADR-OTCQXUpdate-060312.pdf

http://www.iii.co.uk/articles/27173/range-resources-targets-us-investors