Hi @coffeeguy2u firstly well done to you for airing your thoughts and feelings regarding the previous entity, while I was not a holder of RFE, I do know that loss experienced on a stock that has lost its way as would many investors. For me it was TEN that I had a significant loss, hopefully I have learned from that and will remember what I could have done better to protect my capital.
I did a some research on RFE and a lot in BRK including contacting David Prentice with many questions before taking a position with BRK, I felt that this is a different business model in a more prominent acreage location with significantly less debt than the previous entity. Many businesses and investors outside of RFE were caught from the fall in the oil market from that time and I am confident now lessons have been learned and risk aversions in place.
The previous board were crucified and maybe rightfully so however remember that under the deed of arrangement Cicero claimed the base and the quality members from the board they wanted to keep. David Prentice and Micheal Fry were retained and I can see that they are working hard to regain that trust and have the backing of Cicero and Merchant including Matt Walker.
Announcements will imo begin having an effect because David Prentice and to board including Black Messa are kicking goals, they are breaking the RFE stigma and winning trust by proving and completing what they are setting out to achieve. The more of the goals kicked the greater the trust and stigma broken to entice brokers and institutions to return, we may just be starting to see this happen in the most recent broker data.
There are many more goals to be kicked but some significant announcements should be highlighted within the next 6 months. 100 acre auction closing this week, more parent wells to come online, completion of SWISH acreage acquisition, more partnerships in well development and continued royalty return.
The company have been open, honest, open to communication and regular with updated announcements and company developments, all boards get paid the remuneration voted at the AGM, managment here also have skin in the game therefor it is in yours, mine and thier interests that they continue to move forward and kick goals, the rest will handle itself in time
Apologies for the long winded thoughts and response however these are as we say imo
Keep well Cheers Paul
BRK Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
(20min delay)