RE:sell me RMP2 holes will be drilled still this year and there's one Gold Creek well behind pipe. All wells will only be tied in end Q1 2017. 2017 will also see 1 more Gold Creek well and 4 Waskahigan wells.
The Gold Creek well already drilled tested 1100 boepd 300 oil - so 2 wells is 2200 intital rates.
Come Q2 2017 RMP will have 5.000+ boepd production @ $ 60 oil gives roughly $ 45 mln cf at a conservative 6x multiplier and little to no debt debt gives a sp estimate of ~ $ 1,80 - or 279% from here.
Today they will have a 2.30 PM eastern time webcast hosteed by Girst Energy/GMP (click webcast & scroll down):
https://firstenergy.com/conferences-events/conferences/upcoming-conferences?confID=124
CIOC, a private company,
has a 13.000+ boepd field only miles from RMP acreage driven by only 18 wells.
Velvet, another private company, has just done a $ 125 US bond issue of which a portion will be used to delineate Gold Creek. RMP acreage lies exactly in between CIOC and Velvet and actually shares a block with the latter (and a Director I might add).
Apache just drilled a lower Montney well (Above drill Mid Montney for now but CIOC indicated Lower looks very promising as well)
that flowed 2.000 barrels of condensate and 10,6 mmcf gas. That area is a bit more pressurized but still as further development with infrastructure avaialable in the future ensure a lot of running room.
RMP just bought 7 sections more in Gold Creek all around CIOC/Velvet area.
Gold Creek is the elephant in the room no-one is paying attention.
I suggest you watch the webcast and I would say we'll probably have a nice boost from that conference.
Oh yeah, and based on Ante Creek 2P reserve price including facilities (as Waskahigan has).
Waskahigan alone is worth $ 1,25 per share (Ignoring Kaybob) - current share price is $ 0,68.
You get Gold Creek for less than nothing at these fire sale prices.
R.