RFE's next monthly report should be popping up this week. Not...

RFE's next monthly report should be popping up this week. Not sure that monthly's motivate the market, but can't hurt with RFE's production direction.

But I think a key catalyst might be the next reserves estimates. Unless I missed a more recent reserves audit, the last one was February. Only "roll forward" (extrapolated?) estimates since then. Reserves figure prominently in the decision of many oil stock buyers, particularly EV/P2.

Remember that RFE's reserves were fairly low last year because it had drilled only a small fraction of its acreage. The independent audit of reserves depends on production figures, so RFE's increased production should result in much higher P2 and P3 reserves estimates. This, in turn, lowers the EV/P2, which more clearly shows how cheap RFE really is compared to its peers.