I wouldn't be completely ruling STO/BPT out based on this premise (STO farmed in to MAY's beehive prospect late last year). Let's not forget the data sharing that's been going on between the two for the last few years (why???) and the proximity to the same company's infrastructure/processing facilities.....this would be an extremely attractive and simple "bolt on"......anyway, it's neither here nor there atm.
What I'd like to see happen over the next couple of months is a real push to get the SP to a level more reflective of our value ie 0.2-0.25+ (still somewhat undervalued but it's a start).....then we'd have money flowing in from both OA/OB and this would place us on a much firmer footing to be negotiating possible JV/farm-in terms.....not to mention giving some meaning to the term "loyalty" re. options. (I think it's paramount these options get over the line soon, both in terms of finance and sentiment). Couple this with a possible upgrade from MOU to a binding agreement for a further $6mill from Weston Energy (perhaps more and on better terms now???) and we'd be in a very strong position to negotiate true value terms or go it alone through financing.....I'd dare say SB is on the same page here and has his work cut out over the next month or so, but this will be a defining outcome for the company going forward and a true reflection of how management plan on carrying the company and it's shareholders forward lMO.
RLE Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
