Red Sea Oil Corporation (RSO) Message Board

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Gold/Mining/Energy : Red Sea Oil Corporation (RSO)

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To: Donald Lickman who wrote (140)	3/31/1998 11:06:00 PM
From: Tomas	Read Replies (1) of 332

Donald: Very low volume for a long time, the stock can't be under too serious accumulation? I wonder what happened to the press release. Perhaps the Libyans wanted to rephrase a sentence or two? My impression is that no one on the market really knows anything about the results, the stock is doing nothing, and it's doing it under very thin volume. RSO 3 months chart: tscn.com British Oil Company Lasmo and a consortium of South Korean companies recently announced the successful appraisal of its Elephant oil discovery in Libya, Block NC174. The results increased reserves to more than 500 million barrels of oil (they believe they may have one billion barrels). And they claimed it's the largest discovery in Libya for some 13 years. Cf. Lundins "En Naga North is the second largest oil discovery in Libya for 5-10 years". I'd love to know more about other oil discoveries made in Libya during the last decade...

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