over $11k per mississippian formation acre

hi holders

looks like things are heating up in the Big River Mississippian lime play, Sandridge released an announcement on 5/1/11 re their Mississippian acres, displayed here

$250 million for 42600 acres but only 50% interest, this would make RFEs 12000 100% controlled acres valued at close to $140 million or over $11k/acre.

have been doing alot of research on this play, i can see no reason to doubt Davids figures in the announcement on 22/12/10, have attached here again for anyone who may of missed it or doesnt quite understand, RFE have entered in to a highly lucrative play that is only just starting to be recognized.

This is clearly a very exciting play and RFE have already secured a strong acreage position and are leasing additional high grade acreage in the play now (targeting between 35,000 and 50,000 acres).

The line most intriguing from the oil play announcement was "In addition, the Company has received a number of proposals to provide funding for the
development of the Big River Project. These proposals range from joint venture arrangements
with Companys active in the play, private funding from United States based groups looking to
participate in the play, to offers of direct equity in the Company from US and UK based
investors. The Company is currently considering all of these proposals."

going by Sandridges announcement RFE could follow an identical procedure and receive $70 million and still retain a 50% interest, higher than our current market capitalisation, JVs could get better terms, and there seem to be other investors lined up. At the very least this new release from Sandridge gives David some ammunition when it comes to discussing $$$$ with potential investors.

this is of course is ignoring our existing assets and acres, 2P reserves, infrastructure in place and continually expanding production.

this is NOT investment advice and please DYOR.

Finx, i understand your recent bemusement at RFEs SP, many holders out there would feel the same, but this recent news from Sandridge Energy imho proves that the market has got RFEs valuation completely wrong.

lets hope for some more switched on investors to appear in the next few weeks!