A couple of key take aways from yesterday's "developments"....•...

A couple of key take aways from yesterday's "developments"....

• The company has, for the second time in 6 months, failed to adequately estimate forward expenditure and therefore required raising funds at a hefty discount and dilution rate due to the speed at which these funds were required to keep operations moving forward.

• The company is either unaware or simply doesn't care about investor sentiment.....I said it last time and I'll say it again, investor sentiment is a key driver of a companies worth. The company was already on very thin ice in terms of investor sentiment due to the way in which the last CR was carried out. There will now be a large number of current and potential future investors who simply deleted the code RLE from their watchlists yesterday.

• It is far from just a short term dampener, the ramifications run deep.....very deep. There will now be a firm cap set on the share price due to overhang from the placement. We finally saw a break to the upside on the long term chart, make no mistake, this was an extremely important moment.....only to be killed off and will be much harder to push through next time around. 

So where to from here? The company needs to deliver something substantial to shareholders in the coming 6 months or it will be game over, because as far as i can see they have heavily underestimated the importance of investor relations. Moving forward other funding avenues must be explored as essentially we've just given away around 30% of our company in the last 6 months to some wealthy investors who have no interest in the long term operations of the company......they simply got given the opportunity to make some quick easy money because, well.....because they already have money. Seems fair right? The rich get richer and those of us who have supported the company for years on end get, well....we get further diluted is what we get. If you simplify it the company is about to take another 12% of your holdings and hand them over to the big end of town. Because here's the thing, it's easy to do, as regular everyday people on the street we're used to having a large part of our income or assets swiped to help the wealthy maintain their standard of life, we don't complain because we've been desensitized. 

Way i see it.....the company has 3 months to deliver a maiden reserve, farm-in and or sales agreements/funding. A further 3 months to deliver pipeline approval and timeline to construction > production > phase 2 drilling. Come up short, it's lights out and I'm sure I'm not the only share holder with this opinion as we've given them enough time, resources and opportunity to return some value.....