Rawhide, to me it seems
some people were discouraged because we might not meet the expectations regarding the amount of oil we might have pumped up at the end of the year.
Due to heavy rainfall there have been some delays. This is not new, as this has happened in the past to San Telmo a few times. Although not nice, it is quite normal when one takes the location of the fields into account. No one can be responsible for the weather. On some places San Telmo has improved the roadways, but not all drilling places are accessible under all weather conditions, especially not the new locations I presume.
On the long run, this does not change too much. The oil is still there. We just need a little bit more time to get it out.
Meanwhile the financial positions looks better again, due to the new placement and the higher gas and oil prices.
Due to the typical situation/size of junior explorers, it is hard to reach a certain level of production that will qualify you as a take over candidate.
I am confident that eventually ROL will too reach this critical number in BOE / cash flow / nett profits. If oil will rise, e.g. due to natural disaster or another conflict in OPEC countries, this moment might be there sooner than we expect.
IMO the current drop does not show the real value of ROL, but rather the perceived. Those who were not prepared to invest on the long term might have become nervous or disappointed and have sold their shares.
The fact that a new large investor is buying and that the placement went so well, assures me that things will at the end work out fine. IMO in 18 months we could well be above 2 CND.
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