Some good posts above and T Shirt's summation is right on the money in my book.... I also have an empathetic standpoint on SB. Maybe he is payed well for doing what he does, but he still has the pressure and uncertainty over many years, developing advancing this project, with accelerating shareholder scrutiny and comment; the product of delayed fulfilment of expectations. Not an easy journey, all things considered.
One thing I have done this morning is go back and re-read some of the very good posts I kept from the second half of January from posters whom I estimate to be well informed in the game.... And T2 and T3 announcements. The posts around announcements' time are very good … and reserved, but very positive... To paraphrase, as T Shirt alludes, presently, time delay brings with it decay in sentiment based solely on inner doubt. Four months ago, this site was buzzing.
I also listened again to the interview with Prof Ray Johnson (link below). If you want a good handle on this project and the potential, I strongly recommend another listen folks. This guy is an independent consultant; expert in this field having also consulted out here for neighbouring Santos. Irrespective of what comes out of current testing, this is a very large field of gas almost certain to be destined to see production. From what Ray Johnson has to say, I can only interpret an outcome that includes ongoing flow rate improvement, from more and more wells resulting in a major field development.
There WILL BE more wells drilled. Question is will RLE be going it alone, or, will they need to get a heavyweight in to help finance the ongoing development? Either way, in 6 to 12 months RLE will be worth a substantial amount more than they are today... Of that I am little doubt.
