re: Ann: Mississippi Zone Confirmed in Noble ... hi binbin210...

re: Ann: Mississippi Zone Confirmed in Noble ... hi binbin

210 feet of naturally fractured mississippi lime, this was low risk because of the vertical well data, but for this to exceed even managements expectations, the inital round of horizontal drilling has been derisked, in my eyes that is no risk.

there are always risks associated with drilling but ours are about as low as they come.

re the speculative buy and high risk statement, well, for a start Ivan Ries is known to be conservative, and that is certainly understandable when you commence coverage of a company, especially when previous targets didnt get met.

however, we have a very clear statement from management in the latest investor presentation that RFE has certain targets this year and imho to this point it is obvious that a lot of work has gone in to getting us to this point,
with large holders on board now is not the time to drop the ball.

the risk was around gas pricing and success in the Mississippian play, i dont think Ivan will change his wording until results are delivered but todays announcement is another step closer.

Ivans low case scenario for RFE is 49.3c on todays share base, even that now looks very low, imho of course.

time will tell, i could be completely wrong, up to everyone to make up their own mind.