imagine this if successful - 452m shares on issue - 3.5c - Mkt Cap currently $16m - $10m in bank!!!
discover 120mmbbls nett to RMP
so if the cheapest offer were to arrive on discovery ( a bit like WPL buy of SNE field from Conoco ) of say US$2/bbl = A$2.66/bbl = $320m = 75c per share!!! and in this environment with POO up at 70 - then T/O of RMP would attract higher than US$2 a barrel.
the exposure here to a conventional oil target in a oil province that is right up there with the best of them and after 40yrs production or so, new tech and interp finds additional oil in younger rocks to those producers over the last 40yrs. so proven provence and proven new age reservoir rock discovered right next door. the oil kitchen here must have been massive and so COS certainly probably above a pure wildcat greenfields attempt.
RMP stacks up as one of the best risk rewards i have seen in 35 yrs of stuffing around in pennydreadful oilers.
RMP Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
