Sle/Kip, don't know about conspiracy theories but the fact is the company formed around 2009 from memory, listed 2014 and has yet to put its name next to anything commercial. Their track record to date is very poor and that must be taken into account when and where you place your hard earned money.
The projects themselves could both succeed in time. The Surat Basin on paper looks the more promising of the two imo. At least RLE in this case would not be a pioneer
Given the time and cash required to develop both acreages I don't see commercial production until 2021 at the earliest. Unlike a conventional reservoir you cannot fast track the journey to production on either project. Its more a case of managing time and the programme well so that time slippage is minimised.
If production is sometime in 2021, would not a share buyer be better looking after their opportunity cost by buying elsewhere for the next few months with the possible aim to buy back in when many of the issues have clear direction. Some will say you might miss out on the initial run when good things happen but you will have made money elsewhere in the interim that more than compensates.
RLE Price at posting:
3.2¢ Sentiment: None Disclosure: Held
