Smart,
Have you taken a close look at the broker notes?
The broker is using a 1/12 COS for the 2 Georgia wells, do you concur with that? If you do then RRS is overvalued.
In reality the COS after positive Helium tests are 10 times that, I know this because you told me that, upwards of 80%.
They have stated that they have been extremely "conservative" when discounting the RMPs puntland and Georgia plays.
For instance they have attributed 50% for political risk in Georgia, they have used much lower figures for the price of oil and extremely high figures for the costs.
If we were to use the same discounting factors for RRS's share of Puntland and Georgia and divided that by the number of their shares. You might still find that RMP will give you a better return on successful find.
I don't think anyone who is invested in RRS is still invested because of just Texas or T&T, if that was the case then the SP today is worth more than those two assets and they ought to sell their shares.
It follows that they are still around because they feel that Georgia especially after the HE results and Puntland will be successful.
If they are right then you don't have to be a Rocket Scientist to work out that RMP will reward more for the extra risk their shareholders took for holding RMP shares.
Smart if everybody had your outlook then I'm afraid nobody would be investing in oilies.
If OPL were to use realistic figures for discounting then they would have
come to a figure far north of $1.33aus
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