Breakaway Research - Real Energy, page-9

Ditto on the credibility comments regarding Breakaway.

Purely academic but it is interesting to ponder off beat value comments by both Breakaway and Strachan. While both put forward values in the 30cps+, buried in their commentaries are relativities that point to much higher prices.
In the case of Breakaway they discuss Strikes market cap based on prices at the time of writing and state if RLE were valued in the same manner when reserves are known then RLE would be valued 10X current values.
In Strachans case he talks about valuing discovered, partially developed reserves at a very wide range of 35c to 145c per GJ. Depending on final reserve figures for T-1 to T-3 that is up to $1.
60-70cps does not seem out of the question assuming all goes well imo.