RIA 0.00% 3.3¢ rialto energy limited

Ann: Weekly Drilling Progress Report , page-28

  1. 1,665 Posts.
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    If you think that then sell your shares PB gain or loss. I've done that before, buy in price does not matter if you lose confidence in the management.

    As for a resource downgrade, how about doing some research (and this was mentioned in the conference call) that the initial well was to test the P10 upside. Sure there communication around this when stating the drilling programme were terrible, but you know what, never let facts get in the way of bagging a share eh!!

    All of the AGM etc details (look back to old AGM details if you were sent them) and it shows the extent of the field, this DOES NOT extend to where they drilled the first well, hence that this backs up the view that this was to test the extent of the P10, which infortunately it didn't, so we are back to the P50. Doesn't matter to me, as I always use the mean when I value the shares anyway.

    What is very good about this well, is the gas in the lower cenomanian, this was tested in the original sidetrack and is also in the new sidetrack so this is upside to the current figures.

    Don't believe the de-rampers on here as the information is not correct that they are spreading. There may be a revision in the figures but it should centre around the P50 numbers that were stated prior to drilling Gazelle-3. Obviously this assumes Gazelle 4 is successful.
 
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