No Puntland Drill in 2013
Where's the volume?!
15000$ traded yesterday
58000$ traded so far today...
There is NO drilling planned - big prospects, able to drill - but none planned.
The original plan to do the seismics in the first half of 2013 has been abandoned.
Now it's maybe end of this year?
Why the delay?
Worried the new petroleum law might nullify the licence?
HRN have therefore not even employed a seismic team yet, let alone gone to Puntland completed it, interpreted it and chosen a Dharoor drill site along with a new funding partner.
It will take a long time.
18 months is a realistic target.
This company has no major production, no big revenue per month coming in and nothing much but a speculative license in a danger zone terrorised by Al Shabaab's Bombing campaign - and its still trading
way way above their cash in the bank level and no imminent drilling of anything.
Which says the share price will always be dripping downwards apart from those spikes.
GLA