Ann: Red Fork Grows Mississippian Acres by 40 per, page-8

re: Ann: Red Fork Grows Mississippian Acres b... hi holders,

mentioned in a post yesterday the Baillieus initial coverage and the new figures that would need to be worked on and low and behold, i have just been sent another Baillieus research note dated today.

this mentions the new 41000 acre total and revalues RFEs mid valuation at $1.24 per share and still based on 350 million shares.
it also mentions that if average IP rates are similar to Sandridge Energys then RFE would need to be revalued again.

first note gave a target price of 64c, this has now been revised to 80c.

also talks of water injection wells being required to service the horizontal producing wells and possible time lines.

there is also a very interesting predicition for EBITDA going forward, starts to look fantastic in 2012.

not quite sure why anyone would be selling at the moment, each to their own i suppose.

if anyone wants a read, let me know, can email it around 6 tonight.

GO RFE