Member Info for mbingo

Market cap at £120m currently. This includes USD40m cash at June 30. Current production and Positive workover result in May/June to increase this cash pile to USD 50m by year end Plus. It's a CASH COW - what will they do with it? Dividend? JV/Acquisition. Reserves - massive increase to proved reserves. Potential cash flow X 10 current US20m annual flow PLUS. Undervalued massively!

Irrespective of the potential takeover, it's got to be worth excess of £200m fair value anyway in my view based on existing and growing cash pile, reserves, new tax operating environment, no debt, natural gas environment (prices 20% higher than 1 year ago).

Energees paid 38p for the stock in 2011. For them to sell out, it would have to be an offer at a substantial premium to that.

This moves either way very quickly given the free float of about 11%. Will be back up very soon to new highs IMO. Materially undervalued.

Not as much volume as I was expecting - perhaps the summer malaise. Will bounce back above recent highs with a few big buys and associated momentum. Fair value got to be closer to £200m market cap.

So much upside to the business in an environment that is much more tax friendly than it used to be, higher energy prices and massive increase in reserves, not to mention the 24 wells or US$40m in cash. What to do with the cash - special dividend or acquisition/JV.

Wouldn't be surprised to see 50% + increase tomorrow given the limited stock available. That would not be an unreasonable valuation either.

Back up we go. No cause for alarm. Remains very closely held. Will get back towards fair value at 50p. Fundamentals very strong here. Lots of cash generation and lots of opportunity.

This is how I see it; they sold 4m shares (not all of them unless I am missing something) to the market.

Looks like they sold 4m shares, not 100%....

So, what will RPT do with the growing cash pile? With the recent workover, is this closer to US$6m/quarter on top of US$40m cash balance at 1 July? Dividend/Acquisiton/JV?

Nickel back at USD14,000/tonne ...

Nickel jumping back - up more than 400 points. Great performance this year - standing out from the crowd. HZM price yet to correlate. Catalyst for re-rate due end of the month. Current price a bargain. Topped up today.

Can sell at 35.7 - shows where this is going !!

Bought in yesterday and increased interest today. Great price given yesterday's transformational news. US$40m cash balance at end June. Tremendous opportunity to increase $5m+quarter growing cash pile, not taking account of recent workover givin additional 1000bopd. No debt! Massive change to 1P reserves. Tremendous opportunity here.

This reminds me of bushveld minerals at 8p. Reckon that with a bit of momentum it will climb towards 10p very quickly.

Has anyone established who the seller is that has been holding this back?

Just picked up another 175,000 at 4.2 somehow - happy with that. Got to be primed to go on a run ...

The options won't vest for three years. Then he has the option to buy at stock price of 11.7p - I don't have a problem with this, especially as director remuneration is comparatively low.

Thanks. Planning submitted two weeks ago now - sounds meticulous and I fully expect approval, which will be transformational in itself. Savvy deal for the increased equity here. Bisca drill - with 40% COS. It may be slightly delayed but it's coming. At the moment, guidance is "mid-year, " and drill accounted for.