rrs still strong no bounce needed, page-73

"T/O is likely in 12 - 18 months." Well think about it, unless they can substantially value add in a very short period of time, it's obvious that every oil company in the business will be running a ruler over Range. Having said that, it is unlikely that it would materialise until oil is confirmed. Multiple wells are needed to determine the size of any potential reserve so a timely T/O would give substantial upside to the SP given the projected potential. There's nothing quite like a bit of well timed T/O speculation to get the SP moving.