I'll leave the calcs to others - but can only view this as positive.
600bo a day is nothing to sneeze at, and hopefully will ensure that further operations and drilling are self-sustaining. The other item I like is that the company has its own drilling rigs. So basically we can start drilling as soon as we take ownership.
Alot of dillution as discussed, and we'll be close to 2bn shares by years end I reckon. So a SP of 50c would make us a $1BN dollar company. $1 SP would mean a $2BN company.
I'll let others analyse the figures, but think this was agood decision. No doubt the SP will drop lower when the MM's and soph's sell take some profits. Time will tell.
I should add hidden in the announcement about T&T, is also an announcement about Texas which is very good too.
RRS Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
