From Last Wednesday Can you provide an update on Rubellite Energy, its fundamentals, insider ownership, drilling prospects and overall growth potential?
It is a newly listed company, and has been busy raising money and purchasing land. Current producution is only 1,100 b/d, but this will grow. New wells are showing promise and it has lots of drilling locations. Its last financials did not disclose too much new but we should get new info next week with another release. Its exploration program looks good and analysts expect revenue to at least double next year. The stock is doing well. Insiders own 6% and have been buyers. A holding company owns 27%. (5IResearch)