RFE - Red Fork Energy

[Harvestar]

harvestar, unfortunately RFE not upgraded to ASX300 YET.

waiting for CQO takeover to be finalised. they are currently in the ASX100 and have a few loose ends to tidy up before they are removed from the index. probably looking at around the middle of April before we can hope to be upgraded.

probably a very good reason for the complete drop off in volume.

Thanks for the update mate. Yeah I've noticed the massive drop in volume, bit disappointing.

Time will tell....

[Harvestar]

Hi all,

I'm interested to know what people's thoughts are on RFE at the moment.

I believe they were expected to be admitted into the ASX200 this month, replacing CQO or AZT, therefore opening up 2 potential spots, however missed out on both.

Is the market cap still not high enough to be admitted at this stage?

[Gringotts Bank]

Harvester, I think if any stock is to do well in this type of market, it's RFE.

I hold 0 stocks at the moment, but looking for an entry to RFE, and maybe NWT.

Not sure about the ASX200 bit. Try Hotcopper maybe.

[skc]

Hi all,

I'm interested to know what people's thoughts are on RFE at the moment.

I believe they were expected to be admitted into the ASX200 this month, replacing CQO or AZT, therefore opening up 2 potential spots, however missed out on both.

Is the market cap still not high enough to be admitted at this stage?

In March S&P announced that RFE will make the ASX300 subjected to CQO finishing up.

There's no mention of ASX200.

For refernece only, the last ASX200 admission was SUL which has a market cap ~$1.4B. RFE is no where near that atm.

[springhill]

RFE announces Production Testing Blair #1-24H Well Noble County, Oklahoma
http://www.asx.com.au/asxpdf/2012062...h0ccz6z36p.pdf

The well has been testing for approximately 48 hours with some oil and gas evident immediately when testing
commenced. During the last 24 hours of flow back the well tested as high as 20 barrels of oil per hour with 240,000 cubic feet of liquids rich gas. Whilst the well is on an Electric Submersible Pump (“ESP”), these results were achieved primarily via intermittent flow through the casing.
It is important to note that only a very small fraction of load (reservoir stimulation water) has been recovered so far during this initial testing phase and the fluid level in the well bore is very high (approximately 300 feet from the surface).
Production testing is continuing as the well cleans up and rates have not yet stabilized. Red Fork will look to release both a 30-day peak and average rate for the well as the initial production testing operations are completed.


June 20. RFE announces the commencement of completion and reservoir stimulation operations at the McMurtry #1-21H well in Noble County
http://www.asx.com.au/asxpdf/2012062...rr29j7ys2s.pdf
Further updates to follow.


June 4. Mississippian Operations Report.
http://www.asx.com.au/asxpdf/2012060...1tf6tjrjkd.pdf

Development Area 2 (Noble and Payne Counties, Oklahoma)
Blair # 1-24H Well
Completion and reservoir stimulation operations have successfully been completed on this well. Eleven frac stages over the full length of the lateral were completed with the well now flowing back frac fluid at 100 barrels per hour through production facilities. Testing is continuing and further updates will be provided.

McMurtry #1-22H Well
This well successfully reached its target depth of 9,350 feet. Logging has been completed and production casing has been run and cemented. The well has been shut-in awaiting completion and production testing.

McMurtry #1-21H Well
The well is shut-in awaiting completion and production testing. Completion operations will begin shortly.

Bunch #1-19H Well
This well is currently drilling ahead in the lateral at a depth of 4,500 feet. This Red Fork operated well will be drilled to a vertical depth of approximately 5,300 feet, with an estimated further 4,700 feet of lateral to be drilled in the Mississippi Lime formation to an approximate total depth of 10,000 feet.

Tasman #1-15H Well
This well has spudded and is drilling ahead in the vertical section.

Development Area 1 (Pawnee County, Oklahoma)
Abunda #1-21H Well
Production testing of this well is continuing and notwithstanding the high fluid level in the well bore, some intermittent (not yet stabilized) oil and gas is being produced.
It is important to note that with the high fluid level in this well and the resultant pressure on the productive formation, the Company has not yet reported a peak flow rate. This will be reported when the Company has established that the fluid level has been sufficiently lowered to enable the well to unload.
This production testing profile is not unusual for horizontal wells in the Mississippian, which require low pressure at the face of the formation in the well bore to recover oil and gas. Further updates will be provided as testing continues and these pressures are lowered.




Investor Presentation. May 22nd.
http://www.asx.com.au/asxpdf/2012052...k2vlm54x6n.pdf

[RNI]

RFE just gone onto the Dow Jones. on the S&PDJ today. Good news and awaiting the meeting to vote on the CR. After that they will have the money to drill ahead and also will go from using 2 to 4 rigs so hopefully we will get a much higher boepd by year end.

[RNI]

Sorry, my mistake. The S&PDJ which I thought mean't the DowJones doesn't somehow but (in this case) means we are going into the S&PASX 300 on September 21 this year so that is good news.

[mr. jeff]

Sorry, my mistake. The S&PDJ which I thought mean't the DowJones doesn't somehow but (in this case) means we are going into the S&PASX 300 on September 21 this year so that is good news.

11-09-2012 8-20-34 AM.png

The previous gusto that RFE moved with seems to have disappeared for the moment. I don't know where they are up to, but technically, not pretty.

Not terrible, but better out there. I remain optimistic on RFE's future, but that counts for nothing and usually means losing!

[lioness]

11-09-2012 8-20-34 AM.png

The previous gusto that RFE moved with seems to have disappeared for the moment. I don't know where they are up to, but technically, not pretty.

Not terrible, but better out there. I remain optimistic on RFE's future, but that counts for nothing and usually means losing!

Stuck in the mud alright, this is looking ugly and like it will collapse.

Someone is dumping large lines of shares all the time. Another 980k dumped in one hit on Friday.

This has been written up a lot as a takeover play in shale gas so maybe an offer is coming.

Reckon this will collapse next week.

[RNI]

It looks awfully like MAYBE just maybe someone is accumulating to take us over. We have been kept down too long imo. Value is around $1.50 (per analysts) in approx 12 months time when we have many more wells drilled and in production so would be awful if we are only offered about $1.

Looks very suspicous indeed. If we are offered a low ball figure, if we all hold onto our stock tightly and don't sell, surely they would have to offer higher. Time will tell.

[mr. jeff]

It looks awfully like MAYBE just maybe someone is accumulating to take us over. We have been kept down too long imo. Value is around $1.50 (per analysts) in approx 12 months time when we have many more wells drilled and in production so would be awful if we are only offered about $1.

Looks very suspicous indeed. If we are offered a low ball figure, if we all hold onto our stock tightly and don't sell, surely they would have to offer higher. Time will tell.

I agree that something is up. There is no reason for RFE to be avoiding a trend from a macro POV. This is artificial and I'm looking for news soon - management should have said something already as this trading has been happening since June. Admittedly it was precipitated by the CR at 70c.

distribution.png

Have a look at the volume spikes - the share price never closes on the highs, as soon as there is a buyer, someone is filling them.

The other possibility to a takeover is that something is happening behind the scenes (not good) and a large holder is distributing their shares, capping the price. If there was a takeover coming you would expect to see more movement to the upside with accumulation - this looks as though someone is exiting. This stock has great prospects and I anticipate a strong move up when this finishes, but what is going one behind the scenes...?

[RNI]

Agree Mr Jeff

Still being held back but they are drilling their heads off and production in increasing+++ so I am just holding on to my large parcel as they are the 3rd highest (going on production) amoung the asx oilies, top is of course AUT and second will be the new SEA (if it comes off) so RFE being 3rd behind those two greats says sometthing imo.

[mr. jeff]

update on the previous action.

Clearly broken out of range.
Prospects not good at this stage.

11-06-2013 1-27-43 PM.png
3 yr weekly RFE

For anyone that likes to see their gaps filled, you could say that after that gap up, it came back and filled it over and over again.

Turns out that people wanted out and they have left in droves.
Not good for holders, however the story has some good parts so the faithful may one day see reward.

Sorry for the glib comments.