sleeping giant., page-11

hi holders

found an article here thats very interesting.

either RFE will be attempting to get some of the acres for sale as mentioned in the recent announcement or we start to get an idea of how much oil and gas companies are valuing these acres. anticipated bid date of late feb, early march, will need to keep an eye out for news here.

our announcement also stated "E.L. & C. Baillieu are initiating coverage on Red Fork"
any ideas on this, sounds like nothing has been released by Baillieus, sounds like a research note in the future?,
fairly certain they wont assign 6.5cps increased value from these acres that the market has so far.

icharus, the article you referred to was from a year ago, this play has developed since then, the figures stated in the article about Eagle Energy confirms many of the figures RFE stated, for the time being i will accept these figures if we are in the HEART of the play.

12000 acres = 37 potential well sites on 320 acre spacing

mid case 420,000 boepd x 37wells = 15,540,000 boe

15,540,000 @ $91 per barrel = approx $1.4 billion in revenue

initial costs $92.5 million for 37 wells completed plus production costs, leasing costs, land owners % and tax.
so far the market has assigned $9 million in value to RFE for these acres, not quite realistic yet, hoping for better days ahead holders.

DYOR