Member Info for zanmantate

Good to see Phillip Howells continue to accumulate, two TR-1’s in 8 days - must see something he likes!

I wonder if we’ll see another in a week or so’s time, 5% threshold next? Lots of room till we start getting close to NAV, or even beyond that at fair value.

Lol you keep deramping ill take all the 7p shares I can get if it comes on offer again.

Great day and not too surprising to see some pull back, a fair few traders flushed out by the looks of it from the trades and on twitter. My view is the amount of free shares is slowly shrinking with researched investors loading up. As the MAFL story unfolds and gets more attention that will only continue to shrink.

This has been a traders share for a long time, but i think that's changing as the fundamentals become undeniable. Big news to come in the short term too with NAV and Resource upgrade both in the next month. Expect to see those further spread the story and make it clear at how undervalued this is. Such a low free float any volume from new investors will send her soaring. £20m mcap doesn't sound too out there in the long term? Best of luck whatever your decision

Echo all of 6z’s responses. I’d say many well researched people saw this, and much more coming.

Will continue too hold and add on any dips, we’re below cash and liquid asset value for goodness sake! LS doesn’t even contribute to our value until we get into mid to high teens. Cash steadily coming in over the next few years while all exploration and mine costs are taken up by ascendant. Look at the fundamental case and you can see how wizards earlier post could become a reality in time.

Nonetheless appreciate your honesty and opinion. All the best with your future investments.

Let the traders trade, just like those who sold at 7 looking for mid 5s in December (seem to remember you were one of them? ;)) Real value will pull through. Best of luck those brave enough to play the 10%, not my kind of game.

Plenty of news in the short run with sticky hands increasing their holding slowly (including myself). Confident we’ll see teens by end of Feb/March

Always interested to hear opinions if it’s locgical and based on fact. What else are you seeing marineville?

And still under NAV.

MCAP < cash and liquid assets

That’s not even taking into account our ownership of LS.

Wow fantastic results! Look at those grades and intersections. Big resource upgrade to come

The end is near, SRM-3 has TD’d!

Lovely update, very pleasing to hear SD pipeline has now been approved and SRM-3 is looking promising

Once SD comes online we will have doubled our production from 4000 in Q1 2018 to 8000+ BOEPD so I'd disagree with 'keeping the status quo'. Large gov royalties in egypt, but no tax in morocco. up to 12x mark up on produced gas, but yes some fair points.

I think RRE is a great looking company and is one high up my watch list. Best of luck to all holders.

Afternoon Soberman. Yes comparing SDX to RRE is an interesting one. I’m still very much still researching the latter of the two but have held SDX for a while. Firstly SDX just can’t be compared to RRE in terms of cash generation. Even after decommissioning costs RRE is raking in the cash in comparison. But a few points which attracts me to SDX (one of my larger holdings):

No decommissioning costs
All onshore as opposed to offshore
Significant upside in exploration, whereas all RRE’s portfolio is production? (Please correct me if I’m wrong)
Moving more towards gas than oil
Almost all 5 year + fixed price contracts, good hedge against commodity fluctuations.
Very enticing working env in Morocco and Egypt is improving quickly

Of course I’m sure RRE can relate to some of the above. There are pros of both companies, both hugely undervalued. This is is an RRE board so won’t post anymore on SDX, and only have done based on your question. But we’ll worth a look if you’re interested. ATB

By ongoing I meant projects currently in scope for 2019, I.e including arran but not including any possible acquisitions

So yes we agree, you’ve just reworded my first post - “unrestricted cash flow flat in 2019, current cash flow can be used for additional growth, deep value here especially so in 2020 with huge cash inflows”.

Good company here for sure, and yes a different beast to the AAOG, UKOGS of the market. Another acquisition will get things cooking here imo. GLA

Evening all,

My take on why the market fails to value RRE is that for 2019 a significantly large percentage of the cash generated will be going into ongoing capex. The question is what RRE does with its current cash balance (I.e possible acquisition). That will bring the interest and sentiment to RRE in 2019.

In terms of beyond, I.e 2020, yes assuming oil/gas is still in a similar area this should rocket based solely on cash generation. That’s when I could possibly see an annual dividend etc kicking in as cash will be coming our of their ears.

Just my take from having a quick read through things here. Please do correct me if I’ve incorrectly stated anything or missed anything. Will be keeping an eye on RRE particularly in the short term if there’s any acquisitions. ATB

Fully loaded up now, just need to sit back and wait for the news to roll in. Resource upgrade to start next week would be great.

I get there are delays and unforeseen events etc which push time projections out, but we’re surely getting to a point in time where the delay can’t just be explained by ‘operational issues’. It’s getting to a stupid amount of time since the well was supposed to be completed. Every day which goes past without news makes me think there’s something more going on there. All speculation, but it just doesn’t add up to me.

Surely they would have had to RNS a delay which materially effects SDX?

*modest

Cheers, appreciate it. I see RSI at over bought level and we’re bumping the top of your bull channel. Expecting a pull back in the short term? That bull channel seems quite model to me given upcoming news flow

Nice summary wizard, well JV confirmed to me it would be a feb NAV like last year, doubt we’ll get any more accurate than that.

Looks like you need to enable chart sharing or publish it for people to see your chart. Or if it just me?

Great update ras, cheers!

Yep looks like Shakey was spot on. If we exclude the SRM-3 drill, where would our next RNS come from? Operations update? We had one last year in mid-late Jan.

Brent above $58 again.

Thanks - We'll see

Well tomorrow marks 203 days since SRM-3 was spud. So who knows when we'll hear about that. You'd think something funny is going on there (good or bad who knows) in that the initial estimate was 90 days to drill and complete. My view is if its bad news it's largely irrelevant for the long term plans here. If its good, depending on how good, could be something big.

Yep would personally prefer a smaller, more manageable deal and less geared towards oil and more towards gas. Monday 7am will certainly be interesting. Either way, RNS or not, I expect to see continued strength here given how the TSX has reacted.

With 43p broken with ease it could be a nice breakout. Any chartists out there?