RRX just anounced 2012 reserves and a production update, both of which are extremely positive, in our view.
In November, RRX announced 700 BOE/d of asset acquisitions and increased Q4 production guidance to 2,800 BOE/d. Exit production was also concurrently increased to 3,700 BOE/d.
RRX announced that it will exceed both of those targets by a healthy margin, which is a positive surprise, although the company has a history of betting its targets.
They will get updated rating to the positive side very soon.
Very nice and we are biased.