Following that logic , wouldn't that type of success come under an umbrella of a significant event and therefore be reported in an RNS ? I like the sound of it though. Does Range have a mandate to drill more wells in SQ at their discretion or do they need further approvals?
One point to note from the RIG response was (not word for word as can't be bothered to re-read) that the released the headline figure of 630 bopd following the excellent results from SQ. We know that the rough low in may was c. 430 bopd, so i wonder if they are suggesting the SQ drill added 200 bopd to our overall output. I doubt it but it could be read that way. 2 more wells like that and we would be over the 1000. Like I said it is not fact but interesting to read it this way.
Also even if the increase wasn't down to 1 well (which I doubt it was...) the increase was c. 200 bopd in a month, what ever caused this, they should continue and we would not be far away from that 1000 bopd soon.
The next T&T Update isn’t just crucial, it means everything lets be honest, probably why they are holding on to it to make it count, if they release a bad number, we all know what it will mean, a cracking number and they take the round of applause and a northbound SP and are credited with turning round a torrid situation. Big stakes in the upcoming T&T Update.
I hoped for this week, but would still be surprised if it wasn’t released before the end of August.
Is it only me or does it feel like tho whole thing is getting swept under the carpet ? The real perpetrators given a get out of jail card. The whole scenario does not sit right with me and the board seem very casual about 11 plus million tied up in bum deals with no chance of a recoup , anytime soon. The same perpetrators at the same time being shuffled around the board of associated companies ( with no financial loss). To me the next TT production increase update is key to give the company and it's new board any credibility.
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