Well, it all started going wrong when the prior board apparently...

Well, it all started going wrong when the prior board apparently booked a drill rig without knowing where 'best' to drill.
Also perhaps over-extending themselves into Ghana.

Then the SP started tanking for no reason until they fessed up they were looking for more capital.
Then the SP continued tanking until the new board decided they would be better off giving the drill rig operator basically all our remaining cash NOT to turn up and drill! (around $20 million not to come to work! Great work if you can get it!)

Of course the cancellation of the drill means that exploration commitments for the period wont be met, so maybe RIA loses the asset completely and ends up as a shell.

If it can retain on favorable terms with Vitol backing them (no way they would be allowed to keep it without Vitol IMO) then ***maybe*** a chance to rebuild the company.

Added pressure below 3c appears to have come from new shareholder Genesis who **seem** to have offloaded around 40m shares. Possibly an underwritten portion of the 3c placement.