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Good lord obviously a non reader !? Do you have RNSs and emails in Braille ? and long finger nails ta boot ? Celtic are these jilted lovers from past days, they seem very jealous and almost fixated with you. Dont Keep Rabbits They may come and Boil Them !
Hi Celtic, I’m happy with lots of things the company are doing here. However waterflood and the lack of progress is of concern to many shareholders. 4 months for a pump? Really hoping you can engage in some useful debate on this subject, rather than just taking the company line. It is a legitimate and serious concern of genuine shareholders and can’t just be ignored.
Thanks Delft for the reply, it seems odd that LSE do not allow posts that are true, non price sensitive and can be verified. Ah, the madness of the market.
The problem is quite clearly the access to a reliable and consistent amount of water which is being addressed as stated in the last quarterly but talk of waterflood being suspended or cancelled (not by you) is just false and designed to cause concern. I too would like us to have achieved a better result from water flood but it is an accumulative process which will continue to grow secondary recovery, just not as quickly as was originally anticipated.
To clarify, I wrote to Eva regarding progress on water flood and got an automated reply that she is out of the office until June 5th with limited access to e-mails. Please feel free to write to her too to clarify this is the case.
Their silence is deafening
Pedrob999 - I emailed last week and didn’t get a bounce back. I wouldn’t of posted Eva’s response as it’s against LSE rules which Celticheart knows and blantantly ignores. I do know some on Worldstocks who get a response and post there because Worldstocks allow this. Perhaps if posters want to post email comms from Range staff that’s the place to post as it should get removed from LSE forums
Celtic, I have been having a go about the water flood implementation because they are well behind their target which was about 1,500 BOPD just as a result of water flood. They dispensed with LO's services and got good terms for RRDSL and the loans which would indicate that LO failed and did not meet expectations. Hopefully the company will give shareholders a full explanation of what has gone wrong and what they now expect from water flood. Transparency is the key although I realise that negative news on the water flood operations and outcome will hit the value of the company and the share price.
Celtic, I have been having a go about the water flood implementation because they are well behind their target which was about 1,500 BOPD just as a result of water flood. They dispensed with LO's services and got good terms for RRDSL and the loans which would indicate that LO failed and did not meet expectations. Hopefully the company will give shareholders a full explanation of what has gone wrong and what they now expect from water flood. Transparency is the key although I realise that negative news on the water flood operations and outcome will hit the value of the company and the share price.
Sure will :( Looks like it’s likely to drop further as well if reports are true
$66.90 That will hit the top line.
Anyway back to what matters range making progress: #RRL @resources_range commences operations in Indonesia http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RRL/13657023.html �
Firstly, it is Eva's job to communicate with shareholders. If you doubt the authenticity of her reply write to her yourself you will get the same automated response (anyone else want to verify that also feel free to write). Secondly this is not inside information which rule 5d is actually about.
Radio silence? When did you try and was it by phone or E-mail? KR
There is nothing to indicate that water flood has been shelved, have written to Eva for clarification regarding pump etc. Will post reply when I get it. Eva, despite claims to the contrary is usually pretty good at replying to straight questions that are not price sensitive..
If it's something keeping you awake at night so much, why not talk to them directly? As it would just be technical information and not price sensitive, they may take the time to reassure you immediately. Then you won't have to fret so much in public getting two contrary opinions. KR
It doesn’t take 4 months to sort out a pump. Range need to update the market re: Waterflood project Maybe is a question for Range in next Q&A
Taken from the last quarterly update "During the quarter, waterflood production from the South East area of Beach Marcelle field (the "SE project") continued at an average rate of 200 bopd. As previously announced, the supply of injection water from Petrotrin has commenced. To increase the water storage capacity at the SE project the Company has installed an additional water storage tank. The addition of the tank has enabled the Company to increase injection rates up to 1,500 bwpd. It has been challenging to maintain injection rates at a consistent level, as the total volume of water being received from Petrotrin fluctuates throughout the day and at times exceeds the agreed amount and capabilities of the existing pump. The Company is looking to upgrade to a larger pump to handle higher volumes of water more efficiently. Once completed, this should allow the Company to stabilise injection rates in a more consistent way." Water flood is an accumulative process which is proven global to work well in secondary recovery. It is relatively low cost in comparison to drilling and it is working for us , albeit not as quickly as we would like due to the amount of water available. Range are taking steps to address this as is clear from the above.
You can surmise all you like but the bottom line is None of BB bloggers are on the board of directors So I will take my lead from the company to increase the drill programme and increase shareholder value gla .
This is from a poster called Rexco and I share his concerns particularly at the money Range are spending on Waterflood �As with others my main concern now is the water flood and whether the company has contingency plans in place to either rectify any problems or advance the drilling programme to increase production. It would seem that the favourable terms the company has received from LandOcean is compensation for the appalling failure of LandOcean to successfully implement the enhanced recovery expected. Hopefully the new strategy will make up for the lost production from the water flood. When are we likely to find out what effect the lower production from water flood will be? It was supposed to be 1,500 BOPD so maybe they need to revise this target� I expect later this year they will abandon this project due to lack of funds or realise it�s not viable due to environmental conditions not being suitable for these methods
Up 25% today which is great but won�t effect AIM because they follow us even though it�s now 439pm in Australia Work that one out if you can?
Ah right. Cheers. :)
Its keep right on, reference to my poor choice in football team...
...and then I repeated know loads of times, unintended. But I can't edit posts?
Hi bountyman, apologies for my novice question but I can't work out what KRO might stand for. Know something something. Or am I stuck assuming the K stands for know? Could you let me know? Cheers