There could be at least 13 Tcf's here 100% owned by RLE. Beach and Santos will want to get as big % as possible and SB will want to keep as big % as possible just like most SH. If RLE can show it can get through this period until reserves upgrade and cashflow happen and also continue things that now need progressing due to the flow rates then us long suffering SH will end up with a bigger slice of the pie or 13+ Tcf's, this CR represent a $5 mil slice and i have no doubt that RLE diluting itself by this $5 mil will result in a lot more than $5 mil down the track because i think it should result in RLE SH ending up with a bigger % share of the 13 + Tcf's and/or a better Farm-in deal worth more than the $5 mil CR.
I think farm-in numbers for Gas and minerals differs somewhat, i don't exactly know how they work out all the numbers but all they have to do here is drill a hole, do some fracking and connect a pipe and the Bank account starts filling up, whereas mining seems a lot more long winded way of putting cash in the bank from the point of view of being a Farm-in fella, so i reckon this may highlight a difference between the two you mention.
RLE Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held