re: Ann: Red Fork Grows Mississippian Acres b...
haha kbear1, can only post from home, read the announcement then went in to a meeting for a large deal at work, was distracted by the RFE news but came up trumps with the work deal.
got to be happy with todays announcement though, another 11000 acres in only 3 weeks, our last target was 50000 acres by the end of June, this appears well and truly achievable now, we could possibly even exceed this target.
not meeting targets in the past has seen some investors either sell or sit on the sidelines, with the Quantum fund and Macquaries on board and targets being met or exceeded, these investors may have to re think their opinion of RFE.
another point, since Baillieus release their "initiation of coverage" , RFE has increased acreage holding by 21000.
to put this into persepctive, even on Baillieus low case scenario this has improved RFEs value by $62 million on conservative figures, more than enough to cover the increase in our market capitalisation from additional shares issued, in other words RFE is still massively underpriced.
going on mid case scenarios since coverage began then this has added $162.5 million in value. do the maths!!!
drilling cant be that far away, 3D was going to take approximately 2 months from 7/2/11, due to severe weather in Feb and March would expect this soon. Eastok well should be very very close to completion, this appears as if it will support our first horizontal well as a water well, all the pieces seem to be fitting together beautifully holders, GO RFE
RFE Price at posting:
41.0¢ Sentiment: LT Buy Disclosure: Held
