err I am more than aware and up to speed with RLE future plans , seen the next six well locations in the last presentations . However I have no idea why you need to remind me? they have said they have had farm in interest and in my opinion the way to go, this will move things forward much faster with a major experienced Cooper basin E+P partner on board. More so than little old RLE could move it along , we have seen the value with haliburton drilling tam2 and 3. The bigger players have the technical expertise to exploit this to the max from day one and will give the company credibility , stability and most of all reduce risk. debt finance for a 6 well programme payback would be too long , saddling rle with debt that would be 75-80% of its entire market capitalisation right now. Yes a serviceable debt but for a small cap still debt , therefore it’s my opinion it’s the wrong way to go ,hence farm in is MY preferred option.
RLE Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held