REY 0.00% 3.6¢ rey resources limited

52 week high, page-19

  1. 2,672 Posts.
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    We have only the most speculative of prospective resource estimates. Buru specified the Ungani trend could hold 3BB which they risked at 10% to arrive at 300mmbbl. On the newer delineation of the trend that looks a little more measured than simply drawing an elongated oval, REY has two thirds of it in their permits implying about 200mmbbl at a success rate of 10%.

    We will however only know target sizes for the initial drills early next year when the results of the seismic are announced and prospects chosen and we can stop being so hand wavy about things.
 
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