That is my understanding as well. I am happy to see this continue to trade at these levels so I can add to my holding. Bought some cheap OB's this morning and will buy more heads as this process de-risks.
Interesting also at thinking what the reserve report may bring.
If we simply get 80% conversion of 2C to 2P, that gives us 220 bcf of gas. I'm not sure that the original resource statement included the area for T2 and T3 (gotta look at some maps to confirm this tonight), so this may be a downside case.
I'm not sure that this will trade anywhere near $25m Mkt cap when they report the reserve numbers.
DYOR and GLTAH
AL
RLE Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
