Just re-listened to the telephone conference. SB's stating his confidence on several occasions I think gives a believable indication of a genuine expectation RLE will be producing gas. Does to my ears, anyhow.
With 95% of the resource to be further explored and improved techniques to be employed along the way, 20 odd mil$ MC is one mighty low starting price if they can bag any reserves from T1,2,and 3, thus far. GLL's current MC is $170mil - in the middle of nowhere, with nothing but water and high hopes …. (!)
..... Not the first time it's been said, but RLE absolutely has to be a sleeping giant in dwarf's clothing!!
