I just bought after the halt was lifted. Paid A$.42+ for my shares. I have had good luck with Australian juniors looking for oil/gas in the US. Bought SEA and SSN and have some nice profits. Looking for new plays and found Red Fork. Wish I would have found it earlier but that's life.
Stock has reacted extremely well to financing. Big dilution at .32 would ordinarily send a stock right down or below the offering price. Obviously this financing will give Red Fork the chance to show what kind of land men and geologists they have working for them. IF they bought the right land and IF the Mississippian underlays their land and IF they can figure out the right combo of horizontal drilling lengths and frac techniques to use, we could have a big winner on our hands.
Red Fork is different than both Sundance and Samson in their approach. Both Sundance and Samson hold small positions in their Bakken wells and let bigger, well financed, experienced partners do the drilling. These method has been low risk and brought both to the brink of big success.
So does Red Fork have the experience and skill to be the operator of their wells? Do they have the experience drilling horizontals? Can they pull this off?
Obviously I should have gotten the answers to these questions BEFORE I invested but I liked everything I saw and felt an urgency once the halt was lifted to get in.
Thanks for any responses. Bobwins
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