A number of brokers are very positive on RIA as per the RIA website. In their reports they've basically concentrated on their non-Ghana assets which are considerable. Now that Ghana (Accra) is in play, traders have responded favourably. The Accra Block contains a number of prospects, including Starfish, a large, deep-water prospect, which according to the current operator is analogous to the Jubilee discovery with unrisked prospective resources estimated to be in the range of half a billion barrels (431 mmbbls (P50); 665 mmbbls (PMean)). Such a discovery could mean 50 - 60 million barrels of oil for RIA and potentially make it a $1 stock as the rest of the Accra Block might also be be derisked following a successful discovery. Amazing how there's strong support for RIA all of a sudden but as I've highlighted recently this stock has huge potential.
RIA Price at posting:
11.0¢ Sentiment: None Disclosure: Held
