GREY:RNSFF - Post by User
Post by
countrysquireon Feb 28, 2017 7:49am
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Post# 25903523
Silence is golden
Silence is goldenHey, no worries..ROE has the green light to drill six or seven wells on the big new plot. I have no idea how long it will take to get those wells into production--late summer? Soon, they will be able to start drilling/reworking on the first four parcels--basically, it looks like a three-month regulatory delay on those, which naturally raises suspicions in the market that this whole thing may not fly. So, the price remains flat on low volumes. In fact, the price hasn't really gone up since they 1) won the first four parcels at auction 2) added many times the potential of those parcels with the Lukoil deal. So, the market is saying "show me the money." It wants earnings. With any luck, there will be a gusher of earnings late this year. I hope the price stays low until then so I can clean the loose change out of the seat cushions and buy every share I can get my hands on.