david prentice reply

The following is my email to David P and his response to me received on saturday. He wanted me to post both my email to him and his response in full.


Dear David

I am writing as a puzzled shareholder of Redfork in relation to the seemingly bipolar nature of the current share price activity!

Despite a string of positive announcements, stronger oil and gas prices, a capital raising to fund acquisitions complementary to Redforks activites, the share price languishes in a state of torpor. In the gossip forums there even seems to be a suggestion that the share price is being "manipulated" by parties keen to secure a larger holding at a cheap price!

Any insights you can provide regarding the current state of play would be greatly appreciated. Like many others I have a substantial amount of money invested in what I regard as good company and I am quite frankly amazed by the current weakness in Redforks share price.

Look forward to your response.

Regards



Thank you for your email.



As you point out in your note we continue to make significant progress with the development and expansion of our assets in Oklahoma. This effort has resulted in several significant updates over the last three months or so including approximately eight material announcements to the ASX. These announcements have detailed our progress including; success with our step out drilling at EOK, West Tulsa production results and continued development, plans to significantly expand our participation in the EOK northern JV, a successful capital raising, a significant expansion of our certified reserves and culminating in last week’s very significant acquisition.



Whilst it is difficult for me to comment on the state of the share price at any given time, I can say that I am very excited about the value we have already created (and will continue to unlock) in our Oklahoma projects and I’m confident that this will be reflected in the market eventually.



As always I continue to work on promoting our company in an effort to speed up the recognition process. To this end I have recently undertaken promotional visits to funds and institutional investors in Asia as well as the East Coast of Australia. We will obviously continue this investor relations activity going forward.



As we have outlined in our recent ASX releases the last three months of this calendar year are going to be extremely busy, with drilling, completion and development activity on all of our projects in Oklahoma.



I trust this answers your query.



Regards





David



David Prentice | Managing Director
Red Fork Energy Limited | Level 2, 79 Hay Street | Subiaco WA 6008
Tel +61 8 9200 4470 | Fax +61 8 9200 4471
[email protected]
www.redforkenergy.com.au