holders, i am going to reply to my own post here, very poor form i know, but i cant let this lie.
i assume a lot of long term holders are thinking, what is going on, personally i am have been the same, fundamentals are awesome but who is selling.
fortunately have been lucky enough to speak to a few level headed holders today.
on friday 6/5/11 RFE closed at 40c, just under 2 weeks ago.
in that time RFE have increased land holdings by 11k net acres and drilled into 210 feet of Mississippian limestone at Eastok 1-24, which will be the water disposal well for the 4 adjacent horizontal wells soon to be drilled. we have also had a very conservative Ivan Ries from Baillieus up his pricing on RFE significantly.
of course, throw in the SPP shares, convertible notes, tranche 2 and options being issued.
to the option holder who has sold, if you are reading this, you are a goose!!
p.s not management and not Michael Hynes.
RFE Price at posting:
37.5¢ Sentiment: LT Buy Disclosure: Held
