I will buy back under 1P, and I have no doubt this is where it is heading... Nearly 100M market cap is a joke for a company like RRL. Going by events so far doesn't look texas or Georgia worth more than $10-15M. RRL will be a classic example of rinse and repeat cycle followed by AIM companies. It amazes me how people think RSR is a saviour when infact he seems to be opposite of Landau...1000BOPD is his target by year end which in itself is a failure.
They are looking for the optimum flow rate, it is coming, just needs a bit more patience, just like Atzam 4 this is a technically challenging well but the oil is there. Ralph Davies are due to release their reserves estimate shortly for Atzam 5, that could be very interesting indeed.
It also sounds as if the Tortugas Salt Dome re-entry could be very positive too, with an estimated 200-300 BOPD from each of the two wells. Worth noting that Monsanto already hit a gusher (T9B) when they drilled 17 wells on the site.
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