I wish I read this earlier. I think I glanced though it . You have plenty of well organized DD here and a merger theory. Not sold on the merger yet BUT- everything else you allude seems fantastic.
My thoughts- could this be a joint venture drilling phase 3-4 deal with Commerce or another huge partner in the arena so we can cut and defray costs and see revenues and eventual profitability ?
The merger with the CEO private company seems visible too if we knew her revenues. At least it may be a. Good aquisition.
Piecing this all together - love REE plats that trade bizarrely low. 52 week lows. With this SS. Yummy