Our CEO made a comment that expectations for the well were in...

Our CEO made a comment that expectations for the well were in the region of 500-1000bopd and 6-12mmcfd. 1500-3000boepd for this intermediate depth traditional prospect would be a cracking result. The target is for a minimum of 80bcf. Clearly there's oil there too, so 25% of a what looks like a decent find in Texas. Some companies in this sector are valued many times that with no reserves at all when they have assets on the Scale of Puntland. Also at last glance RRS had a NAV of some A$80m, well ahead of the current cap. So certainly looking like reasonable value at the current market cap.

Captain Nelson Forties on ADVFN today