Well, reading through the report “first time” I cannot understand why Mr Market isn’t pushing the SP up and beyond A$0.15+....
Taking the highlights on “Face Value” the story sounds very exciting and positive.. no point applying for a pipeline if you haven’t any commercial gas to sell? An interested Farm In partner.. From memory (so don’t crucify me if I’m wrong) Scott’s last Farm In deal was around A$130 million so he has experience in this area. Possibility of prepaid Gas sale agreements plus the existing Santos and Beach ones....
Given Managements track record there is no “Back Stop” for them this time imo so they will be very careful on what they are telling shareholders, therefore I am erring on the side of believing the story as they call it.
Taking nothing for grantet, still need to cross the T’s and dot the I’s butstarting to look Real good .
Good Luck All
RLE Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held