MONDAY'S MOST FOLLOWED: RED EMPEROR RESOURCES

[tightrope]

Other talked about companies included sector peer Red Emperor Resources (LON:RMP) and tantalum miner Noventa (LON:NVTA), which has seen its share price nearly triple over the past two days.

Red Emperor is currently drilling the Shabeel North well in Puntland, Somalia, with its partners Range Resources (LON:RRL) and Horn Petroleum.

The well was spudded on June 6 and is expected to take between 45 and 60 days to drill, which means it could reach its total depth in the next week or two.

Shabeel North is targeting the Upper Cretaceous Jesomma sands where “good” oil and gas shows were uncovered by the original Shabeel well, 3.5 kilometers to the south.

Petrophysical analysis of downhole electrical logs of the original Shabeel well pointed to a potential pay zone of 12 to 20 meters with an average porosity of 18 to 20 percent.

http://www.proactiveinvestors.co.uk/com ... 45562.html

[nomadicwarlord]

[waryaa]

tnx tight!