seller finished?, page-2

Despite the poor price action caused by one disgruntled shareholder it is great to hear about the other discoveries being made by nearby license holders, namely Santos and Senex elsewhere in the basin.

This is a ridiculous bargain now after being smashed for no (fundamental) reason.

1m share buy order at 16c should put a floor under the price so this is an opportunity for someone with some ammo.

"Santos has recently drilled Kaiden-1, which is a gas discovery in Paning Member and Toolachee Formation. Santos is currently in the process of drilling Marama West-1 and is targeting the Toolebuc Shale Formation, Paning Member and Toolachee Formation.

Real Energy is focused on the same formations as Santos wells and seismic interpretation indicates significant thickness of the Toolachee and Patchawarra formations in Real’s acreage.
Elsewhere in the Cooper-Eromanga basins, Senex Energy released the results of a year-long program of work on oil and gas potential in its tenements in the basin, identifying 450 oil and gas leads and prospects. In addition, New Standard Energy is effectively paying $46.5 million (through a farm-in) to gain a 52.5% in PEL 570 or $149 per acre. This is further evidence that our Company, with 2 Million acres, represents extraordinary value. I am sure there will be many more transactions in the Cooper-Eromanga basins over the next few years."