Mr Market disagrees (manipulatrd by 1000 shares during final auction) but IMHO this is again a great move for the future of this stock. I have gone back and looked at all the blocks in question and all appear to be "pretty handy" ie MOBY 43 & 94 mmbbls 3/5 1057Bcf 3/10c 166Bcf 14/17 15-20 mmbbls 9/17b 130mmbbls 9/22b 130Bcf
That represents several company makers, all of which are better than "wildcat" and with 3D for a 40% stake farmout I think derisks and brings forward the chance of this being realized. I'm no Geo but most of these blocks with the benifit of new technology can payoff big time. Remember ITC found oil after new technology reinterpreted the 3D and should have put Gotta and a few others into retirement. I think this represents as oil and gas plays go AS GOOD AS IT GETS. Athena with 24mmbbls kicks us off and we can now fast track these other potential assets.
RHE Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
