2.5m 2p reserves valued at $40m flowing at 11400bopd
Could result in a 8m cash payment on arbitration
Either way it goes it will move the sp up!
Bluesky looks to be nz with over 380mmbo target in which they have a 10% share. They will easily have enough cash if they receive a payout for cadlao. They are drilling sometime in 2013.
Their other projects are interesting too but the best part is albers is on board! He is and o&g god who has a plethora of top tier oil leases in many companies. Hes been known the shift the leases from company to company and has many networks in the oil gas network. Look at his history and u can you see he always manages to farm out his properties to the majors at attractive rates. you want top quality leases hes the man.
Bargain basemen at the prices imo
RAI Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
