You must also remember that when we were 24p , we had less than half the shares we now have ( or will have post merger ) . So the assets base may have increased. But profitability has not increased at the same rate as dilution. Which is why we are where we are. If we got to 24p again ( which we wont without consolidation ) , that would actually be the equivalent of over 50p in old money. So there is little point comparing prices with 2 billion shares in issue against prices with 5 billion shares in issue . All IMHO of course
Keep your wits about you mate. Range will turn that corner yet...... at some point soon hopefully. RRL has some world class assets coming under it's wings from the merger and a good leader under CH. But nothing happens overnight. In time we will get rns after rns with news from TT, Puntland, Georgia, Russia, Africa, Columbia and Guatemala and not forgetting Texas where we will still have assets. There is no reason why we are sat at 3p- TT alone is worth far more with the amount spent on it's development. Just a matter of time when some positive stuff will get released and off we go. Many forget RRL was 3p and under a long time ago with far less assets than now. These new assets have yet to be priced in. That could change anytime. We just need sentiments and confidence to return. We've seen Range is capable of getting to 24p from where we are now. So not impossible. Lets get the production of bopd ramped up and see where we head. :)
I am banking on - - a DD done, (announcement delayed) - a merger announced - a small buy back at these prices, (best time to do it if ever - using Texas sale money or some) - with consolidation following - then the release of upgrades in TT at Q135,248 so all in all probably in the next two weeks all has to be completed to coincide
Opinion only of course
This way the shareholder value increases, the company is in better position to start the dilution game again for expansion if need be
Im long RRL, but Winnifroth's points bar the timmis rubbish are fair, and we should all as rational investors should be asking them. dont agree the firm is doomed but cash flow is very much an issue and he is spot on with the missed growth targets.
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