Roma have approx 5x as many shares on issue as Oilex...
If success at Connolly is valued at around $5 / share to OEX,
then success at Connolly for Roma would be valued at around $1 per share + extra 10% interest in permit + royalty ( 4% ish from memory )....
As you can buy 3 RPM for Every 1 OEX...Roma share price would have to reach $1.70 to match OEX at $5....
I haven't adjusted for escrow......When do they come out of escrow?
Both companies seem to have good leverage but I prefer to hold OEX given their exposure to upcoming drills ( 88% of Barcoo North at $15 / share on success.......$3+/ share for Rockwood south , etc)...
Be interested in your thoughts/valuation for RPM on Connolly ......
