re: Ann: RB 1 Well Confirms North Chapman Ran...
Alright, I'll bite.
$226 million dollars (the independent valuation of the asset) is 150m. With 1 billion shares in issue that works out to 15p a share, or 26 cents.
All we need now is the updated reserve report confirming upgraded P1 reserves (which it will, given we've intersected the same zones and it's commercial) and we'll see that sort of valuation- expecially as the P2+P3 reserves are set to increase as well as we've intersected another payzone and it's deeper!
Factor in all our other projects as well, and you'll see that buying Range shares now is essentially like getting your hands on free money.
RRS Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
