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[littlejohn]

REI 1.70, could fetch $7 to $9 /share

in the sale lane based on what

VTLE is paying for Henry deal...

REI 3rd quarter presentation...

https://d1io3yog0oux5.cloudfront.net/_5b5ecf3d48129bc9986c902e6b0dadb5/ringenergy/db/856/7728/pdf/Ring+Energy+Third+Quarter+Earnings+Corporate+Presentation++FINAL+11-3-23.pdf

VTLE acquisition presentation...

https://investor.vitalenergy.com/static-files/6e62615e-89d7-4432-8fa8-a7d7d2d15656

VTLE is paying about 1.165 Billion for

53,000 net acres...50% oil cut...

Roughly $22,000 per acre...

REI has about 82,000 net acres and

roughly about 69% oil cut currently...
page 4 in presentation...

REI when using about 200 million shares

out should yield about $9/share...

If you subtract about 400 million of debt

it should still yield about $7/share...

REI is oil weighted if you are shopping

to add to your oil empire soon...

Mr. Henry spent a lot of his adult life

building the Henry oil company assets,

so this isn't meant to disrespect that...


So we watch...LJ