HY22, RFE use independant reserve engineers Lee Keeling and Associates, and if my memory is correct, we are expecting a reserve upgrade about now. I am certainly not an "oil and gas guru " but would imagine if a report is due about now, the possible new reserves at West Tulsa wont be included in this report.
i am not sure how often we reappraise our reserves to be honest.
re Lee Keeling and associates, they are based in Tulsa, real close by and seem a very respectable company, been in business for 53 years.
a line from their website "The firm's appraisal reports are recognized by major financial institutions and used as a basis for oil company mergers, purchases, sales, financing of projects, and for registration purposes with financial and regulatory authorities throughout the world. The client list ranges from major oil companies to individual investors"
if you look at their list of available services, they know their stuff.
had a look at their industry client list, we are not on it, but it does say list is incomplete, going by the names on that list, we dont rate a mention next to names like Petrobras, Mobil, Shell, Sunoco and Total.
suppose what i am trying to say is these guys are genuine players, when we get reserves upgrades shortly and into the future, they will be taken as the real deal.
sorry for the ramble, hope of some use.
RFE Price at posting:
58.0¢ Sentiment: LT Buy Disclosure: Held