According to that new presentation on the company website, current production is a gross 2400 boepd, but thats only from 27 wells. There are another 12 wells in various stages of completion (2 stimulating, 7 waiting for stimulation, 3 drilling).
According to my calcs these 12 should take gross production to over 3000 boepd, and given spud to first sales cycle is 45 days, and the stages of drilling/completion indicated, we should see that level achieved by August imo (assuming the new wells are as productive as existing wells on average).
EV per flowing barrel is starting to look pretty cheap - this price level just cant last imo.
Cheers, Sharks.
RFE Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
