ok guys, enough of the fear mongering, especially tamart00 and NZruss,do you guys actually know what is going on with Sonray, you dont hold RFE shares, wonder if either of you trade via ABN Amro??
most of the people selling have been midrange holders like moneyneversleeps, nervouswreck and probably many others, but i also dont believe the sell side is ridgy didge, but that isnt going to instill confidence in anyone, you can only go by what you see.
re Sonray, i spoke to Chess Capital today and to there knowledge Sonray is under administration, these shares are still frozen, unsure when they will be released or if they have to make an announcement regarding there intentions, perhaps Nazzysmith would be a better one to answer that, but it also sounds as if the number of shares frozen is an insignificant amount, the volume yesterday could have churned through them, sounds like they were trading RFE more than accumulating.
Chess Capital are having a meeting with David tomorrow in Melbourne, made it very clear that shareholders want to know whats happening in the next few months, perhaps projected targets, strategy etc, this will more than likely be on the agenda for tomorrows meeting, but Chess agreed with me on this point.
on another topic, a lot has been mentioned re the current gas price, on 1/10/09 the spot gas price was $4.50, now $3.61, not a huge difference, our SP closed that day at $1.16, since then we have all but doubled our net assets, doubled our 2P reserves, have direct access to market for sales, increased revenue by 189%, reduced costs and still have no debt with a small shareholder base and yet we are at 42c. i dont know how many more times i can say it, but shareholders are getting tricked out of their shares, 42c is not even close to fair evaluation for RFE.
RFE Price at posting:
42.0¢ Sentiment: LT Buy Disclosure: Held
