rol up 10% in frankfurt...., page-20

Thumbs up Locust on your post, you obviously follow ROL in far more detail than I. Anyway I first bought a modest amount in September 2010 at $1.37 and more later (when I should have sold) at $1.93. So yes, I feel your pain. On your specific points:
1 Its not unusual for companies to skip over failed drilling campaigns. The logic is "its not material" and therefore no need to spell it out. They probably spent a little bit of dough and found nothing so canceled the program. Pretty common.
2 Again a common industry practice to incentivise employees wthout actually paying them more money. However I agree that if the $1.9 million listed in the last Half Year financial report as "Employee benefits expense" is that then that is a lot of money which could probably be better spent drilling.
3 Agreed, most definitely not a good look. As far as news goes Reliance is a listed company and puts out its own announcements (http://www.relianceresources.com/s/Home.asp)
4 Have to agree wth you here too. There must have been a couple of compelling arguments to purchase Andash; the 10-bagger NPV should not have been the only reason.
5 The project value, unfortunately, has to be related to the market cap-share price. And that has collapsed along with every other Junior. If they needed the money then they had to take the new price - they did well with the old one.
6 I think a lot of people would complain bitterly if the capital raising was done at a hefty discount to the share price. Its quite unusual, but not unknown, for raisings to be done at a premium, particularly if underwritten. It should give some strength to the share price (but that doesnt seem to be working). No doubt Salim hopes nobody takes up the offer.