shale gas deal!!!, page-11

Hi Rich

"It's all well and good to be able to run the nuts and bolts of an operation"

I would contend the current situation reflects nothing in respect to the company's ability to market itself and everything to do with its ability to run "nuts and bolts". It has failed and continues to fail to deliver. It has drilled sweet next to nuff and accordingly it reserves will only be increased basically by the apparently depleted Coronado rubbish.

Onshore USA shale gas plays are going to be a dime a dozen - they are being snapped up like nobody's business by real players. These real players are not going to fart around like RFE has - they will saturate the market.

Should RFE had enacted what it said it would - it would have been well ahead of the pack - been attractive for a M&A play or simply a earner for holders. Instead it has in all reality promised the world and dismally failed to deliver. Its all very well being a low cost producer - if you don't have production it matters not. This play only works at scale.

Aside from the incestuous corporate relationships between coys in the Fry/Prentice stable run out of the same office ect ect you also have the shale gas guru Gilstrap and his boy "lil" Gilstrap heading up operations in the US. I mean c'mon - this is a gravy train funded by us. The "expertise" mantra doesn't cut it - if he was such a guru he wouldn't be working for RFE (except he does suck 1/2 mill'ish out of the coy).

I can guarantee you that nobody gives two hoots about what Prentice says - he is not believed - and rightly so. This company struggles to drill 1 shallow hole a month let alone the 3 odd a week it needs to meet its goals. Milestones just get moved out and all the while they burn our cash to pay themselves.

IMO the RFE ground is reasonably prospective - however with current pathetic management and gravy train shysters - I struggle to see success. Having said that though they look after themselves very very well.

I would bet sharechaos was very impressed with the presentation which no doubt put his mind at ease - again. To me it looked like more of the same rubbish which IMO is doing the coy more harm than good the only thing that will turn the ship around is to drill drill drill.

They need to engage people both here and in the US who can get things done (walk and chew gum at the same time people). What a pathetic bunch they are - they can't even get their monthly gas reports in on time.

The price is 43c - it aint all good - its a debalce.

Or something to that effect - all IMO and DYOR