RE: Target Raised Again! I don't invest in charts but there was a nice chart pattern forming prior to news of increase in bank lines and then again with acquiring 22.75 sections at Ante Creek. Now with Q1 report a share price of $6 is attainable for sure. Kinda reminds me of Trilogy on the early days of Kaybob oil play when it went from $9 to $27 over a couple of years with twice annual bank line increases and target revisions upwards each quarter.
I was a wee bit confused as to why Riddell didn't part the Ante Creek lands out to Trilogy as he owns a fair chunk of that enterprise as it was spun out of POU years ago. But the land section is small and 11 sections are unproven or should I say unknown as of yet. The 11.75 sections to the SW of current RMP lands look very good indeed. POU paid a good price for the SW lands and I expect RMP will drill the sections heading south beginning with 22,15,10 and finally ending on section 3. All this will of course depend on results as they begin drilling south. Lots of drilling is possible at Ante Creek and their production numbers for 2014 are very conservative in my opinion. Thus, I'm going to hold on to my RMP shares are they still aren't close to any measure of fair market value while affording meaningful upside going forward.
To reiterate.... great job by management yet again and as stated a long time ago the cash flow being generated by RMP is adequate to finance projects without shareholder dilution. Management has a meaningful shareholding so their interest is aligned with us common shareholders. Even Warren Buffett would like the scenario playing out here!
GLA...