Hey Ian,Roma have approx 5x as many shares on issue as...

Hey Ian,

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 ......


Good luck to thee




[email protected]