No. of Recommendations: 1
When I purchased RRL shares I did so in anticipation of making a short term profit as the various pieces of news that were due were being posted about a share that had been very oversold IMO. We are now in the middle of this process and I am happy with the results so far.

Looking at the company as it was a few years ago though, I notice that it used to provide dividends. It would probably want to pay down some of its debt from the anticipated oil production in Trinidad and from the long drawn out Texas sale before doing this again. Places like Columbia and Puntland, are also likely to be cash hungry before they produce cash flow.

It looks though as if Puntland could, forseeably, eventually attract farm in partners or outright purchasers...
Oil In Somalia
http://boards.fool.co.uk/oil-in-somalia-12763760.aspx

Perhaps RRL will find a more permanent place in my portfolio?

Tom
(Not kidding myself that dividends will be resumed any time soon)
Print the post  

Announcements