hi holdersanother hilarious day of trading, a blatant BIG...

hi holders

another hilarious day of trading, a blatant BIG accumulator playing games, they managed to get 1 whole parcel of 15k at 39c today, going to take a while to greatly increase holdings at that rate, they were prepared to buy 230k at 39c but wouldnt buy up and then drop in 3 quick bot sales in the last 5 minutes to hold us back for the day.

"they" also have at least the 40c sell point stacked, its so obvious, why would any genuine seller give these guys the satisfaction, just sit tight and wait for your price.

can say the majority of buys have been through Morgan Stanley recently, a pretty good indicator that an overseas investor is buying, have no idea who though.

why would an overseas investor be slowly buying up millions of RFE shares??

yesterday i mentioned that Pablo Energy 11 drilled Ripley 1H-31 just to the north of RFEs Pawnee County holdings that had an initial 30 day production rate of 570 boepd.
just stumbled across another document released by Sandridge Energy, a presentation they made at the UBS Global Oil and Gas Conference, quickest way to look at the document is to save then open, document here

2 pages that RFE shareholders will be interested in

page 15 shows Sandridges acres held, past vertical wells, industry and Sandrige horizontal wells.

Sandridge own acres either side of RFE, very close by, plus it also shows the limited number of horizontal wells in this area SO FAR.

page 17 shows some of the production rates across the play

of particular note, another well completed in RFEs VERY adjacent area that has an IP rate of 607 boepd, the Gilbert well.

so far there are at least 2 wells surrounding RFEs Pawnee leases with IP rates of 570 boepd or more.

for the purpose of this excercise, will say this falls in Ivan Ries middle scenario, on current share base RFE would have a valuation around $1.71, but believe me, 570boepd on our first well and RFE would be valued well above that figure.

this explains why an overseas investor is so keen to suppress the SP for as long as possible before other overseas investors hop in, these guys do their research.

unfortunately the sad fact for RFE is we are based on the ASX, most Australian investors dont know a screaming buy when they see it, so this investor can pretty well do as they please, evident in last 5 minutes today.

page 17 on the Sandridge presentation, along with Pablos success in the area is also probably the reason management have preferred Pawnee as the first site over the 210 foot of Mississippi Lime already identified in Noble county.

been funny watching the recent antics of the accumulator, when they start to show a bit more desperation for shares would imagine spud date will be around the corner, cant be long now, per Baillieus report possibly even next week, looking good folks.

eveything stated above that is not factual, is only my opinion, not intended as investment advice.