RE:RE:RE:Well results
Well, the problem is we don't have any info. No one knows how many barrels
this well will produce. It's impossible to calculate the net worth.
I've just read that TAQA/Shamaran is closing down due to ISIS.
This is from the Range Energy Resources MONTHLY PROGRESS REPORT:
"Forces aligned with the Islamic State of
Iraq and al-Sham (ISIS) recently commenced
large-scale military type operations in significant
portions of northern and western Iraq.
It remains unclear the effect these events
will have on the Kurdistan Region of Iraq generally
and the exploration, development, and production
industry in Kurdistan Region of Iraq specifically.
While the Khalakan Block is located in the north east
of the Kurdistan Region of Iraq, the Issuer is not
able to predict whether recent hostilities involving
ISIS near Mosul, Tikrit and western Iraq will adversely
impact activities on the Khalakan Block."
... and on top of that ...
"On June 20, 2014, NAAZ2 and BGKL commenced
a proceeding in an English court to challenge
the arbitration award that was recently issued
in the Company’s (RGO's) favor. NAAZ2 and BGKL
are each challenging before the English court
the power of the arbitration tribunal to provide
the remedy granted to Range in the arbitration
award as well as the procedure the arbitration
tribunal adopted to reach its findings."
I don't know why NAAZ2 and BGKL (read New Age)
don't want us to have any information about
what's going on, but they must have their reasons.
As I see it, we really haven't that much to go on,
and the price for a share could be worth anything
from 1 cent to 10 cent.
I've said it before ... "time will tell".
GLTA / Bubo