Reuters - Red Emperor to drill 300 million barrels in PL in Quarter 3, 2011

[uchi]

There is no secrecy to be honest, give it time the negotiations are still happening as we speak. Everything will be on the table very soon.

[kajdes]

Burn Notice,

 

How do you know that the rig has arrived?

 

Have you seen it yourself or has someone told you of its aarival.

 

Thanks,

Kajdes

[Dr_Osman]

The rigs are there. Everything is either there and set up or it's on its way and below is a quote from the horses mouth back 1 month ago,

 

The Company has completed sourcing drilling related materials and the majority of materials are on site or on route to the drilling site. Site preparation including the drill site, air strip and ingress route construction have been completed. Water wells are currently being drilled to provide source water for drilling operations.

[Burn Notice]

kajdes;765245 wrote:

Burn Notice,

 

How do you know that the rig has arrived?

 

Have you seen it yourself or has someone told you of its aarival.

 

Thanks,

Kajdes

Kajdes, just trust me, I'm a doctor

[Som@li]

Somalia;765124 wrote:

At least 70% should be Puntland.

 

Every agreement should be disclosed to the Parliament and be shared with the public. Secrecy, nepotism etc, it is not looking good and is totally indefensible. :mad:

 

I swear this oil might cause more trouble if we are not united.

 

Are you guys naive or what? 80%, 70%? how much money did Puntland/Somalia contributed on cost? No country gets that amount when 100% the risk/cost is on foreign companies, I will be surprised if Puntland/Somalia is given more than 10% as royalty.

[Burn Notice]

Somalia;765124 wrote:

At least 70% should be Puntland.

 

Every agreement should be disclosed to the Parliament and be shared with the public. Secrecy, nepotism etc, it is not looking good and is totally indefensible. :mad:

 

I swear this oil might cause more trouble if we are not united.

Somalia, PL's share of the oil royalties is 55% well above the industry average of 35%

[Carafaat]

Burn Notice,

 

Are we talking about exploration drilling? And what will happen then when they hit oil. Will a larger company come and take over the rights and invest for production drilling?

[LANDER]

Oodweyne;734725 wrote:

Aah, the Range resources/Red Emperor and their ever cunning plan of announcing that they are about to

"drill"

very soon....

 

I wonder, if any of your western-educated pirate-landers, ever bothered to acquaint yourself with how company listing in the stock-market works? I mean, you do know by now, that, this particular company have a truck record of always announcing this sort of guff PR missives, just as it about to need to raise some further venture capital funding. Or failing that, just before it needs it's financial reputation to be taken stellar, which is when it needs new stock-market listing, like now, that they are trying to

"list"

themselves at the London's AIM market.

 

In other words, did it ever occurred to you that, this is a

"racket"

(of a desperate one, no less) intended to keep getting venture capital funding from the market; and, therefore, in-order to

"polish"

the credential of this outfit, they keep repeating the same promise of

"drilling"

soon. As well as, making that PR statement, as a way of

"enticing"

new investors from the different stock-market around the world, in which, the share of this company is being listed on it.

 

Which means, this is not a financial crime; but, it most certainly, not a

"kosher"

, either. And definitely, it's not ethical; or for that matter a sort of conduct in which a company that has any intention of fulfilling it's bargain should be doing it.

 

And, finally, if you don't believe me; just, spend some time in reading the financial analyst statement about this company's prospect. Or even better, try to truck back this particular company's shares in-terms of it's movement at the Australian's stock exchanges (through Bloomberg's live financial channels). And, if you do that, at least for the last several years, you will see the how the shares of this company (in-terms of the up-tick spike or slight upward movement) correlates each new announcement this company makes, at least for the several years.

 

And, after that brief spell of uptick movement, then, the shares come down again to the floor. Hence, this

"yo-yo movement"

of the shares is essentially the tell-tale sign that that there is no much confident that the punters (or investors) have on this company prospect; regardless of how many polished verbiage it's CEO makes about what is immanently in the pipe-line for them.

 

And, furthermore, of all of the issuing of new shares through out it's existence (at least in the last several years), in which this company has being issuing, you'll notice that not a single outcome of a decent drilling, of any kind has been achieved so far. Which in turn, will make investors to give it a wide miss to it's

"recurring"

public share issuing or offerings.

 

And, finally, to cap it all again, this

"news"

from the company is essentially the

"polishing verbiage"

that was intended to

"prettified"

this statement:

 

Which means, in-order for the company to start with a

"heavy bang"

of investors

"buying"

it's share at the first day of it's listing on the London's AIM market; they have decided to

"release"

this statement to the market. And, it's in that

"context"

I hope those of you are educated enough to know how the western world works (particularly in it's financial market) will see it through what is going on in here; and, therefore, will not be gullible enough to be taking in here, indeed.

 

Of course, it's not likely that you'll be the one who will loose one's shirt in London's AIM market if this company makes a real

"killing"

out there (come Thursday); but, be aware of the

"game"

that is being played in here. And most importantly, you must not be blindsided to believe, that, this sort of company is likely to be the one that will get the

"black-gold"

out of the ground in pirate-land. For theirs, is not of that kind of

"business"

at all; but, it's essentially a

"beautiful racket"

, intended to

"bamboozle"

some gullible's investors's from their hard dough, on a regular basis, indeed.

 

Regards,

Oodweyne.

 

***********

 

PS

:- One last thing, I have to let you in on, is that, if you investigate bit further this Red Emperor/Range Resources, you will soon find yourself in a smoke-and-mirror environment, where it's difficult to tell where Range Resources as a company ends, and Red-emperor begins, or vice-versa. Even, if you

"believe"

that, this two outfits are

"partners"

in-terms of Pirate-land's awarded licence. Hence, one could say, that, even, in-terms of their

"corporate structure"

or the sort of relationship that exist between them, this two outfits is bit murky to say the least!

 

Oodweyne if you have access to a bloomberg terminal, I'm assuming you work in the markets?

 

As for this whole oil drilling biz, I think you're all delusional if you think somalis can responsibly manage

oil resources for the benefit of their countries.

[Somalia]

Som@li;765471 wrote:

Are you guys naive or what? 80%, 70%? how much money did Puntland/Somalia contributed on cost? No country gets that amount when 100% the risk/cost is on foreign companies, I will be surprised if Puntland/Somalia is given more than 10% as royalty.

Not in royalties, exclusive rights should have been given to a state company which would have hired companies to explore, then the burden would be on those companies that want to explore. Obviously they wouldn't explore at this moment then.

 

This is greed and I am 100% against any deal being signed in the next year. The World Bank deemed it the 2nd after Sudan as African oil producers in the 1980s, people are aware.

 

Royalties will not be under 20% if they are smart, Iraqi Kurdistan in a new deal 1 week ago gets 17%, while the central government gets the same and the rest goes to companies.

 

@Burn Notice, if that's true, it is good.