Shareholders in Range Resources (RRL) and Red Emperor Resources (RMP) flooded Interactive Investor's discussion boards on Tuesday as speculation mounted about the forthcoming announcement on the joint partners' Shabeel North well.
Investor debate centred on what news would emerge and where it would send the share prices.
There were also questions being asked about why Red Emperor, which instigated a trading suspension around 20 minutes after the opening bell, allowed any trading time on Tuesday.
Interactive Investor data shows large volumes of the stock were bought as well as sold by a small number of traders during the brief window.
Meanwhile, shares in Range Resources were still being traded. "An announcement is expected overnight," the company's joint broker, Old Park Lane Capital told Interactive Investor.
In a statement, Range chief executive Peter Landau confirmed: "Range wishes to advise that final downhole logging is currently underway but that no results are yet available from the operator, Horn Petroleum. Range will release any results as soon as they become available."
Range stock saw plenty of day trading on Tuesday, with many individuals dealing in six-figure volumes.
Red Emperor and Range each hold 20% interests in the Shabeel North well, with Canadian operator Horn controlling the remaining 60%.
Horn has already drilled the first well (Shabeel-1) in a two-well programme and began drilling Shabeel North in early June. By late July it had decided to drill deeper after finding water but no oil.
All eyes will remain on the three companies in the run-up to and beyond the close.
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