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That's not our Range Resources.
So how do you know TEVE is best if you have nothing to compare it to?
Just curious. What's the second best digital server?
properlynumb - sorry, but I can't send private messages.
I don't think there is a problem posting concerns as long are they're genuine. In the short term oil can fluctuate and even drop if the world economy collapses. Iin the long run it'll break $100 and even $200 as the world produces less than it consumes. And that's probably no more than a few years away with the explosive growth of India's and China's middle classes.
I wonder if there are only four on this board: b4atf, the cork, gemstone57 and myself.
Questions and Answers from the meeting - from RRL board
Presentation questions summarised as best as possible. If I have missed something please amend as my shorthand was rubbish! Enjoy.
1. How confident are we that there is 400m BO recoverable in puntland?
This is our size of the target/prospect but will only know on drilling. Drill success rates vary from 1 in 4 to 1 in 7
2. Puntland PSA’s can expire, what is the plan.
AOI – Determined to get extensions, Dharoor formalised to drill.
3. Will Range announce mobilisation and not on route due to security fears
Logistic plan is in place – most likely a barge on a beach and not in main port. Will announce mobilisation
4. Georgia – 50/50 partnership?
Range funds Straits, RRL gets costs, may bring in a farm in partner at some point.
5. What is ranges technical competence?
2 people within RRL one geophysicsist and one operational. Other external consultants available.
6. Raise Capital, what is RRL strategy?
11m in cash currently which covers Puntland. May raise money for Georgia if the share price hits 10p – 14p prior to Puntland spud.
7. Again ask about fund raising, PIs or IIs?
To early to tell at present but prefer IIs and target funds.
8. AOI – 45% Puntland share
RMP have extend there option on the additional 10% until 31/10 due to 2 month delay in contracts with AOI.
9. Seismic – 2D or 3D whats difference?
2D wide lanes, 3D narrower lanes but costs higher and is more accurate.
10. Can 2D/3D see the difference between water and oil?
No. with laughs. Will not know what is in Puntland until they drill.
11. AOI – tactics if a discovery on first well.
AOI will leave rig and not move on and will target a second appraisal well.
12. RMP details.
Per 8 above plus RMP pay 30% drill costs for 20% interest. RMP to raise capital within 2 months. May be opportunity for RRL shareholders.
13. Georgia Seismic – any comparison to Russia and water contents?
RBS energy reviewing and not noticing lots of water.
14. Puntland and Chinese rights to reserves.
RRL happy agreements in place and legal contract with puntland government.
15. Finance – when breakeven?
PL believes this is not a good way to review a junior oil company. He looks at market capital and liabilities. He wants to drive Market Cap from 60m to 200m.
16. 4-5m to fund Dharoor, if we find oil what happens.
Possibly the Americans or Chinese come calling
17. Share consolidation?
No! Worst thing to do right now and any bad news could knock 30% off share price.
18. Who is the operator in Trinidad
RRL.
19. Is it hard to raise money?
No can raise if needed but at what price and benefit.
20. Why are you in London?
They are over on their other companies but as AGM coming up thought it would be good to talk to the AIM investors.
21. Market Cap 200m how optimistic or pessimistic are you?
They know their targets, there is potential there and Texas is underpinning.
22. Equipment in Djbouti?
Still there since 2008 in AOI containers with head gear and casings for Puntland drilling.
23. Texas?
4 potentials, 3 wells a year to drill. 7.5m net to range in additional income. Increasing net cash flow.
24. Smith Frac a success?
Yes very much so. 2 out of 3 layers open with 4mcf coming out. Have to keep pressure low to preserve well.
25. Spud in Georgia when?
Drilling tender out with 4 companies. First drill to assess tenders. Spud end 2010.
One of many summaries of the meeting.tamen from RRL board in London
Hi guys
I've just got back from the presentation also (stopped off at the pud ) and here is my take. It's pretty much echoing what the other guys have said:
Puntland:
*Rig Mobilisation news will hopefully be Oct-Nov for a Jan 2011 Spud. PL is very unhappy with AOI dragging their heels but he said they want to derisk from their 65% to 45%( Red Emperor taking the 20%) They approached PL to find an interested partner, Max capital put them in contact with Red Emperor.
* They've found nemerous drill targets but Mark Pattison actually chose the Maroodi-1 to target first (very respected man).
*Offshore they wont spend much on seismics and just take a small % an be carried (3ish years away though)
*Rig will be transported via a barge near Dahoor (maybe come in from socotra)
Texas:
*Smith Frac was successful and the choke size was chosen to keep the integrity of the well
*RB1 being hooked up now and flow rates should be Mon/Tues via RNS with reserve report mid Sep. Going to leave it a couple of months before fraccing.
*Each well should profit 2.5mill net to range with 3 being drilled a year. Possibility of 20-25 wells.
*NCR is a big find in the area when looking at comparisons.
*Self funding and should flow for 20-30 years.
Trinidad:
*News flow should start Nov time.
*Shallow wells and easy to connect up. wells can be drilled and hooked up within 5 days.
*possibility of drilling 3-4 wells at a time and staff will increase from 100 to 200.
*The lower formation is meant to be massive which we'll be targeting. Possibility of 6'000bopd in 36 months.
*Compare to company thats just drilled next door and found massive oil in the lower formation.
*very interesting project and already paid for.
Georgia:
*very excited about Georgia. May farm out a % or go at it alone depends where we are with puntland.
*6 wells located but choosing 3 to go ahead with.
*first drill is targeting 90mmbls recoverable. Shallow wells.
*I found PL most excited about Georgia.
*Should spud this year as everything is already in place in Georgia (equipment and team)
Extras:
*All range holders will get an entitlement to be involved in the Red Emperor Placing.
*We have $11m in the bank which is enough for everything but if we decide to go at Georgia alone and Puntland we may need to raise 5-10m. This will be at a much higher price though once punty rig mobilisation news has been announced. 100% from where we are today. That tells me PL expects the sp to be 10-12p on rig mobi news which is due oct-nov.
*Greg Bandy is also very confident in Puntland and they'll be taking the extra 10%.
All in all very positive and heading in the right direction!
Hope this makes sense i did neck quite a few stella's to celebrate
Today's presentation is now available on Range's web site.
http://www.rangeresources.com.au/fileadmin/user_upload/Presentations/Range_Presentation_August_2010_-_FINAL.pdf
Yes summers are hot two to three months a year, but TEVE NEVER trades. Maybe next quarter.
Don't worry about it Joe. Nobody expects you to know anything.
You rarely get interesting news at these meetings. It's just to bring people up to date and allow for a meet and greet and answer a few questions. More feel good session than anything else. At least the ones I've been at.
They'll probably just show the June or July presentation.
Put one on Jibbles too who was going to contact Kanno and get questions answered and report back here.
I guess he got his answer and now doesn't want to show his nom-de-plume again.
No location system could have helped these miners. Their location is known. They have to be dug out.
From the UK board
To try and continue getting things back on a more constructive note, I thought it would be a good time to re-post this info which Twissso posted over a week ago (slightly edited), hope he doesn't mind.
Here's a brief summary of the story and what's about to unfold!
Reserve figures from NCR about to be released with big increase in P1/P2 expected. Of the PW10 P1/P2/P3 valuation of $226m to Range, 70% of the reserves were in P3 before the 2nd drill. Much of that $150m valuation will move into proven and probably.
Puntland onshore - 20% of two enormous prospects (10b boe each!). Rig mobilisation announcement due anytime, free carried on the first drill, multiple large >250m+ targets across both licenses.
Trinidad and Tobago - free carry through initial development with upside from current 700boe per day to 3500boe per day based on existing P1/P2, with significant additional exploration upside.
Georgia - 50% of two licenses, one of which has estimated reserves of 380 million boe. Competent persons report due once the almost complete seismic are finished. Shallow targets with local markets, large in-country infrastructure (3 regional pipelines cross Georgia).
Puntland offshore - Range leading the government advisory for the offshore basin. Historical seismic data obtained and analysed. Estimated multi-billion barrel prospects! Rumour is that Range will get the tastiest piece of the pie for facilitating licensing deals.
East Texas Cotton Valley - small prospect but cheap to develop, a sideline really.
Over $11m cash in the bank!
Holders on high alert for news from multiple projects, expected to have significant impact on price.
Investor presentation to be held next Wednesday in London.
TEVE - 10bagger, did you see this post by qtipjoe yesterday?
Posted by: qtipjoe Member Level Date: Wednesday, August 18, 2010 2:15:51 PM
In reply to: alen121 who wrote msg# 2162
I am going to be as honest with you as I can. You and I go back a long way together and I too wish you had not bought TEVE I wish you had bought any other stock on the planet. Thank you for your support.
Why watch the chart. RRL is news driven right now. No news, not movement.
Too many interesting articles about Puntland posted today. I strongly urge everyone to try to read these posts.
Again, here is a link to the UK RRL discussion board. Free to join.
http://www.iii.co.uk/reg/investment/detail/?threshold=1&it=le&rec=6782731&display=discussion&pageno=1&lo=3&code=cotn:RRL.L&
Typical African corruption and warfare in Puntland. (from UK RRL board)
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3ARRL.L&threshold=1&pageno=1&showthreads=0&it=le
Author Topic: SOMALIA: Prominent Somali Legislator speaks about Puntland’s oil deal and the . . . .
Jacaylbaro
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4 Icon 1 posted August 17, 2010 07:22 AM Profile for Jacaylbaro Send New Private Message Edit/Delete Post Reply With Quote SOMALIA: Prominent Somali Legislator speaks about Puntland’s oil deal and the uprooted Galgala community
August 16, 2010
Bosaaso, (Laasqoray Online) – Hon. Asha Abdalla, prominent member of Somalia’s legislative branch and veteran politician whose constituency is the Sanaag Region of Somalia, represents Sanaag/Makhir people, in her seat of the Transitional Federal Government of Somalia (TFG).
Puntland president recently declared war on poor farmers in Galgala City of Bari region, where thousands of troops have been deployed by President Abdirahman Faroole in order to uproot and eliminate indigenous community settlements. The MP said that this a direct violation of international human rights.
‘President Faroole had deceived the world when he said: “terrorists are hiding in Galgala mountaineous belt,” she said.
“Indeed, he wants to mine Majiyahan and Galgala area, illegally” Asha was interviewed by the British Broadcasting Corporation “BBC” regarding the Galgala conflict.
“So far one hundred and fifty families have been displaced from Galgala city. These families reached Dhahar city of Sanaag Region a week after the war started. A huge fight between the self-styled Natural Resource Defenders of Sanaag/Western Bari regions, and Puntland government broke out near the town of Galgala in late July 2010.
Col. Abdisamad Ali is Faroole’s deputy and the perpetrator of the attacks that displaced so many people. “The area has no presence of humanitarian organizations and the wounded civilians have no where to go,” Asha Abdalla said.
“Eight months of economic sanction was imposed on the residents of Galgala and environs by Puntland Government; the produce from Galgala farms were also banned from other parts of Puntland and Somalia; this long-enforced policy of economic sanction had angered the local people and made their lives harder for the last eight months.
This policy of coercion and of intimidation has led the community of Galgala to arm themselves and defend their territory from anew Blood Diamonds Group under the guise of the Puntland administration,” Asha added.
Coined as the new blood diamonds of Liberia, the small consortium that are prospecting oil and minerals in Puntland is registered in different countries in order to avoid lawsuits. They are opportunistic foreign companies that manipulate corrupt leaders in order to exploit the natural resources of smaller and poor countries through illegal contracts and the bribing of the head of states. These companies include Range Resources, Cinnmax and African Oil. Company.
Isse Dholowa a naturalized Australian citizen is the leading manager of these petty contracts. Liiban Muse Boqor, a British citizen is another key player of the illegal schemes. The latter had subsequently arranged for himself consulting fees of a huge windfall and bonuses.
Mr. Boqor was the middleman in 2006 between Ade Muse, former Puntland president and Range resources, Ltd. He is also a member of the new team of experts that Farole arranged for the take-over bid Africa Oil made with the departing Range Resources, Ltd.
The President of Puntland, Abdirahman Faroole, an Australian citizen as well, has been part of the group and is the mastermind of the latest plot to uproot and eliminate the residents of Galgala.
To fulfill illegal mining in their territory, President Farole ordered his troops to attack the area. But the junta met huge resistance from the area.
The Administration’s connection to petty contracts
Puntland troops entered Galgala town a week after a tactical retreat of the defending militia (known as the Natural Resource Defenders of Sanaag and western Bari). After the invasion, Puntland troops set ablaze century old farms of Galgala residents. These farms produce dates, vegetables, fruits, rice and bananas.
The front line soldiers of Puntland also humiliated and injured women and children in the town. They also looted houses and other properties, local reports confirm.
These horrible stories were related to the world by Hon. Asha Ahmed Abdalla in her interview with the BBC/Somali. She warned against the consequences of the invasion, the uprooting of the natives and the looting of Galgala community’s properties.
“Calling innocent people terrorists and extremists is very dangerous.
“Legalizing the looting of people’s private properties, and the burning of their farms is a criminal act,” Asha said.
“Whether the administration authorized such criminal acts by the soldiers of the new blood diamonds group or not indicate that the administration does not give due respect and care for human lives. A big social crime is committed in any case,” Asha said.
“My constituency is in Puntland and I’ve the right to talk about the reality and defend Puntland people and confront who’s harming us,” she said.
“I don’t want to hide what the president is doing to the community– he’s an unrecognized governor, has no right to mine without consulting federal legislators, and leaders of the community, the very people I represent in the TFG,” Asha said.
“There are available written and oral evidence pointing to bilateral contracts between the government leaders and mining companies,” Asha said.
In a nutshell the self-styled leader of Natural Resource Troops of the Western Bari territories, Mohamed Said Atom is defending his people and land from the invasion orchestrated by the blood diamonds group that wants to mine the area.
This is not the first time these companies tried to mine the area. It was in mid 2006 when the locals led by Atam first chased out the miners and their illegal companies. Atom also took away the notion that he had links to Islamist groups in Southern Somalia.
“I’m neither Alshabaab nor do I have links to Islamist groups in southern Somalia. I’m in my home area and we have been attacked by Puntland outlaw president, Farole, ” He told the VOA [transcript ].
President Farole’s administration failed to preside over the dismal security status in his home town of Eyl–a pirate den.
There is a wide public suspicion instead that the president has no vested interest in securing the unity of Puntlanders or taking concrete policy actions that would keep the peace and co-existance of communities in major towns because of his close ties to sea piracy. In a Security Council report, Farole was identified as the chief of Puntland’s lucrative sea Piracy.
His administration has had links to the sea pirates of eastern Africa, particularly from Eyl base, where dozens of abducted vessels are still anchored. Eyl is the epicenter of high-seas piracy on Somali coast.
Farole had also received a large sums of pirate money for his finance campaigns to secure the uneven distribution of the electoral votes of Puntland’s presidential election. It is unlikely the dust started by his predecessor will settle anytime soon.
Last week, President Farole’s official website, Garoweonline, falsely labelled the prominent Somali politician Hon. Asha Abdala as a supporter of extremist groups, after she accused Farole of invading Galgala town, the region of her own constituency.
When Hon. Asha exposed the reality behind the attacks of the Galgala town, and the growing insecurity of Puntland, the Farole administration saw that as a slap in the face, and falsely accused the law maker of siding with the wrong side, a political tactic used by successive Puntland administrations to intimidate or stop anyone they see as an outsider or “threat”.
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Posts: 32329 | From: Aakhiro | Joined Somalia Online: Aug 2004 | Report this post to a Moderator
Because of the spread and the low volumes I've stayed away from these shares. Maybe when there is an orderly market and positive earnings this could be good.
Good luck with the board qtjo and especially with your wife. I wish her all the best. I know being ill and in hospital is no fun.
All the best and good luck with TEVE.
Congratulations on telling time AND counting to three. I can see you're a chip off the old blockhead.
It's been fun but I'm off to greener pastures for a while.
Good luck all.
Good to see you can count to three.
Wasting time buying and selling shares? I thought that purpose of investing is to make money even if it takes a bit of time. It take less time to do that than to keep posting here. If you have time to post you have time to trade.
Is this the only stock you own? If not how many other "teams" are you on?
I may have mentioned that I also hold shares in V.VST (Vast Exploration) drilling in Kurdistan. The situation may improve in Kurdistan as the central government is finalizing a bill to recognize existing production contracts. The majors are getting ready to move in.
http://www.reuters.com/article/idUSL2138539120070821
And I can't trust anyone who ends his posts with BUY, BUY, BUY.
You are probably right about revenues, but I suspect that if they announce thatr the Army has concluded its testing and is ordering product or applying to the FDA for approval, we'll see the shares at 50 cents in anticipation of those revenues.
Similarly when the announcement of the intention to market the dog oral care product we'll see 50 cents as well. And if they both come, we could hit a buck.
Of course this is just speculation on my part.
I'm not going to miss the big move if and when these announcements come. After that the share price will be determined by earnings.
With only 40 million or so shares, and a 30x P/E ratio ( reasonable for a growth company), three million in revenues will then only push the price to around $2.00.
I'll keep the board informed if Kane issues any further news releases.
Hold on to your shares or as Lazarus did, sell now and by back in at lower levels.
Which will make more money?
The rest, about TEAM TEVE, is just bunk.
To make money on the next pump. To make money as he apparently did unlike everyone else here.
I just think of it as 1.5 cents per pence or 1.5 dollars per pound.
It was worse before. They had pounds, shillings AND pence. And something like 12 shillings per pound and 20 pence per shilling (or vica versa). That had me confused too. lol
Then a pound was worth 5 bucks or so.
Now the Aussie dollar ..........................
The best way to find the best messages in London is to select messages with more than 20 + Votes. http://www.iii.co.uk/investment/detail/?showthreads=0&code=cotn%3ARRL.L&it=le&display=discussion&threshold=20
A little cheer from London this evening:
Mon 22:44
Re: If Carlsberg did Ramping....
Twissso
Who said Range would hit 98p anytime soon? When you say it'll happen soon that does sound ridiculous, but over the long term 98p is well within the realms of possibility.
Range's licences are prospective enough for the company to develop into a mid-tier producer / explorer. Range holds licenses for 20% of two basins estimated to hold between 2 billion to 10billion barrels of oil each. The end of the beginning of this story will come when the Marood-1 prospect in Puntland is spudded.
Find me another company with three producing assets that are free carried or self-funded through initial development, that has 20% of arguably the largest two remaining onshore basins on the planet, that has 50% of a couple of licenses in Georgia that are estimated to hold around 380m boe each and a bank balance that's $11m and growing. I'd like to be able to buy this companies shares in an ISA as well, please.
Range has also compiled all the historical Puntland offshore seismic, are advising the Puntland government on licensing and are expected to be awarded licenses for some of the more prospective areas. There's a basin the size of Yemem's oil fields offshore in Puntland by the way.
Look at experience that sits around the boardroom table or the Puntland JV partners and consider that the partnership is backed by the Lundin group which has a long history of taking huge assets through the development stages.
"If Carlsberg did ramping" is a nice little one-liner but it doesn't change the prospectiveness of Range's licences or nor does is change the drilling program.
Let's just agree to let time and the drill bit do the talking.
Happy to do that.
In case you want to watch the RRL action in Australia, here is a link, although it's listed as RRS there. They open around 8:30 p.m Eastern Time.
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RRS
Why would you have accepted anything else? Oh, true, maybe joe, but he said he was a pumper.
It's a free discussion board. Just make believe you're traveling in Europe!
hank, got your PM but I'm not paying so can't respond in kind. You can e-mail me at gabeh99@gmail.com.
Checked out your site. Looks good, but my searches didn't work for some reason. It was unclear how many fields need to be filled in for a search.
p.s. Check out Kane
Gabe
Can't take any credit for that. I just copied it from the RRL site.
If anyone has not seen it it's worth a look. Lots of nonsense but some very good people too.
http://www.iii.co.uk/investment/detail?display=discussion&code=cotn:RRL.L&it=le
TEVE has been rolling along like this losing 2 to 3 mill per year. Their board is fun though.
Come on hank, quit it. There is no room for sanity on this board.
Kane Biotech V.KNE 8 cents
a Winnipeg (Canada) microcap biotech company with around 40 million shares. I've been invested in Kane since December. Some links to articles on Kane follow. There is a very low following for this stock and the only discussion board I know of is on Stockhouse. (very few messages)
I believe they're getting close to having revenues from two products.
1. Dispersin B - an antibiofilm product - the only existing product that is able to treat biofilms infections, a pernicious infection that can not be treated by current antibiotics where the bacteria form a film which keeps antibiotics from reaching the bacteria and wound.
Kane licensed technology from a university and have developed a product which the US Army has been testing for six months with apparently encouraging results. We may hear any day on how the tests went. Kane will need to get FDA approval for it, but if the Army pushes for it ( they desperately need something to treat battlefield wounds) they could be getting revenues within six months. The worldwide market is in the billions.
Another product, also an antibiofilm agent, can be used to prevent the buildup of plaque. An Irish firm has tested it for use in dog food and drink to reduce or prevent plaque. Very little is needed in the way of approvals and the testing is quite advanced with possible use/sale within months.
A third product, also for anti-infection is the use of their product on catheters to prevent infection. FDA approval as a medial device is needed (not a drug approval) so that is probably a one year approval process.
The beauty of Kane's business plan is that they license the base technology from universities, turn them into products, get patent protection around the world and then find producer/distributor partners who finalize the product, carry out getting approvals and eventually manufacture and distribute the product with Kane getting a 10% royalty on all sales.
This way Kane's burn rate is extremely low. Something around a million a year. The CEO makes $150,000 a year and they run a very lean ship. You should call Gord Froehlich, a very friendly and upright guy.
I can see them having revenues of a couple of million next year. Even at a PE ratio 20 to 1, this will give them a $1 share price.
I can see them at $10 in five years.
In the meantime they don't need to dilute much as their burn rate is so low and they may not need more than one more financing. They're holding off for now in the hopes of either the Army or the dog productt coming through soon so that their share price may hit 30 to 40 cents.
I'm excited about Kane and may be biased as I have a very large holding.
Here are some articles to read if you're interested.
Interview with CEO http://biotuesday.ca/2010/02/16/in-conversation-with-gord-froehlich/
Website http://www.kanebiotech.com/index.htm Scroll down
Info sheet
http://www.kanebiotech.com/pdf/Kane%20Investor%20Fact%20Sheet.pdf
Army agreement news
http://ca.us.biz.yahoo.com/ccn/090908/200909080552643001.html?.v=1
Princeton study http://zikkir.com/health/13514
Catheter agreement
http://salesandmarketingnetwork.com/news_release.php?pipe=0000ac177000191&ID=2017705&key=Urinary%20Tract%20Infection
Patents
http://www.news-medical.net/news/20091103/US-PTO-grants-third-patent-for-Kane-Biotechs-Competence-Stimulating-Peptide-technology.aspx
Product efficacy
http://jac.oxfordjournals.org/cgi/content/abstract/dkp158
Washington Post article
http://www.kanebiotech.com/In%20The%20News/Washington%20Post%20-%20March%209%202009.pdf
Oral care patent
http://ca.us.biz.yahoo.com/iw/090715/0519021.html?.v=2
From the UK board. http://www.iii.co.uk/investment/detail/?showthreads=0&code=cotn%3ARRL.L&it=le&display=discussion&threshold=1
http://www.rangeresources.com.au/ (Range Resources website)
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RRS (LSE equivalent in Australia) good for news,share prices delayed 15-20 mins.
What's even more unbelievable is that people are listening to him.
He thinks NITE has been shorting this stock for years and is now short millions of shares.
A stock that has spreads liek .20 to .5 and trades an average of 2,000 shares or so a day.
Now TEVE may shoot up to a few bucks. Who knows. I'm staying away from it.
Watch out with TEVE. The company may be fine but the board moderator is a complete bozo. He thinks HE and the board ARE the company, are supporting the company and without them the company is nothing.
He's even advising company employees how to play their shares.
There is just no volume and ridiculous spreads.