Even with future oil price uncertainty, surely RFE would be an...

Even with future oil price uncertainty, surely RFE would be an easy target for corporate takeover at these prices.

At June 30, 2014 RFE announced that its Group Proved 1P resources had a NPV10 of $US293K with Big River 1P being $US248M. Assumptions were an oil price of $US101.23 per barrel.

Assuming an average price of oil moving forward of say $85-$90, Big River 1P NPV10 would still be about $US200M.

Take servicing of debt out of the equation and RFE operations are still running at a profit (albeit declining). If RFE could develop say 2 additional wells per month, then oil flow would be stabilised and even increased.

Let's say someone offers $US150M = $US50M after debt removed = $US 0.1 per share = $A 0.115 per share (at 0.87 AUD/USD), would shell-shocked shareholders run to take it? I bloody would..

Anything wrong with my logic?