There has been one large seller who literally smashed this stock...

There has been one large seller who literally smashed this stock down from the opening bell and has not given it a chance.
Can't understand the motivation to treat a new stock like that when every single share that is trade-able was paid for very recently at 25c.
Without that one seller the stock was set to open at 28c but they did almost all of the selling on day 1 and sucked in other sellers on day 2 by pushing down the price severely with minimal volume.
Looking at other activity in the Cooper basin you have Senex having a crack at AWE (via a merger)after a few major oil discoveries (in the Patchwarra formation which RLE are targeting), NSE buying into AQO'a cooper licenses with valuations of more than 10 times what you pay in RLS (at 25c) so at 20c this is Extremely cheap and you will basically own the cheapest tradeable stock of anyone.