further follow up shows that from independent report in April that there are several hurdles to jump before first production which is planned for Jan. 2012, the field looks to have a life expectancy of about 12-18 months then into decline but during this first period could net them more than US$55mill. profit. The est.op. costs including FSO is around $164k/day. Also in the report they value all assets oil & uranium at around US$88mill., now if all goes according to plan at Cadlao there will be a serious re rating of the share price. Look forward to gov't & development approvals over the next 3/4 months, market will probably wait for this then move if they get the nod, good chance to accumulate now IMO.
RAI Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
