RE: RE: RE: $1.27 - Overhang Absorbed I see $1.50 short term only because there might be some resistance at that point. Shares are moving upward but they will not go up in a straight line. Eventually it will be back and fill. I like the fact that with debt at only $12 million and differentials narrowing RE has compelling upside because a good chunk of their focus is at Mantario and to a lesser extent at Reward. Not having to pay out a dividend the firm can grow with organic cash flow and develop the properties to say 10,000 boe/d and with it 2P reserves. A suitor might offer up something in the range of the current $4 NAV and I think RE can fetch that because they have so little debt.