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RMP ENERGY INC T.RMP

"Iron Bridge Resources Inc, formerly RMP Energy Inc is a crude oil and natural gas company engaged in the exploration for, development and production of natural gas, crude oil and natural gas liquids in Western Canada."


TSX:RMP - Post by User

Comment by Seppelton Nov 22, 2016 9:53am
156 Views
Post# 25494621

RE:RE:Blackbird Energy Montney

RE:RE:Blackbird Energy Montney
Yes, he is. I was a shareholder when they drilled the first middle Montney well 2-20. The CEO would appear on TV, etc., giving interviews (including German investors) talking about strategic land holdings, liquids-rich gas and advanced drilling technology. 
 
At about 350 million shares outstanding and a 15 cents stock, nobody cared about a single well and no means of bringing it to production. I thought his only option (apart from talking) was to sell the company or consolidate shares before issuing more equity. But he went ahead issuing more stock at 15 cents including warrants and flow-thru shares, to raise enough money to invest in infrastructure and drill more wells. Who would think that with shares doubling to more than 700 million the stock would rally from 15 to 60 cents.
 
And he keeps promoting the stock being loud about condensate-rich, more condensate, super condensate and referring to it's next door neighbors like Encana and Nuvista. But it's not just talking. The company is building it's own facilities, drilling and will probably begin producing reporting revenue in Q1. 
 
I think, BBI shares also benefited from major mid summer Montney transactions such as Birchcliff/Encana and 7Gen/Paramount.
 
At the same time, RMP was struggling with it's lenders and opted for Strategic Alternatives many viewed as a negative sign. And the first well at Gold Creek reminds me BBI's first well back in Q1. Who cares about a well to be brought on production some time in the future. "Show me first", this is what the street is expecting from RMP. And yes, promoting the stock and being nice to small and institutional investors, brokers and lenders is also important.
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