as Tom Ward, Sandridge Energy CEO states, it will be difficult to get large acreage in the future, and feels there will be many sales in the future, being aggressive now is the key.
the fact RFE have spaced and pooled their second horizontal well, and will work on 3 more this year, will likely increase acreage purely on activity.
there is absolutely no doubt acreage costs are increasing, RFEs cash in the bank certainly helps.
AOK will need to be equally aggressive in the Mississippian play, but i think they are being left behind a bit.
the fact RFE will have 3D siesmic info on 10 640 acre blocks plus 5 wells drilled by the end of the year and potentially another 20k+ extra acres, the proving up of the acres will be well on the way.
holders, on another note, we have entered into the twilight zone, no more shares should be sold to fund SPP or options as we have passed the cut off date for funds to be available. now we wait for the EGM, tranche 2, SPP and options. next week may be quite??? certainly looked like we had 2 competing forces today, SPP moving all over the place.
will there be any more announcements before the issue of shares?? hopefully big news due for around 9/10th of May, perhaps spud date of first well or JV partners??
one thing that is fast approaching is the golden cross, the way the 50day and 200day map are fast approaching each other, looks like happening next week some time, another very very bullish sign.
RFE Price at posting:
50.0¢ Sentiment: LT Buy Disclosure: Held
