A lot of the work is being undertaken by RRDSL which is effectively owned by LO not Range. Of course LO will be charging us in due course but by then water flood will be having an impact on our productivity and I suspect the POO will be much improved too.
Hi Photo, hope you are keeping OK. I haven't posted here since before Christmas when things had got silly - sundry people with agendas and an admin that had lost the plot, so it was all just a waste of time. Still watch though as you can see. In answer to your question yes I'm still in RIG although no longer a rep since I resigned last May. It does seem to have gone quiet, I know various of the reps had work and personal issues that meant they perhaps couldn't devote the time necessary to do the work involved. I think there is still a role for RIG but that message needs to come from the wider membership.
How's the Mole Valley keeping? Now just humour us. We didn't all buy a gazillion years ago with all that Punty guff. Sounds like you haven't averaged down much, but you can still trade it when and if Chen's new rigs, courtesy of LO subsidiary, Chengdu, start progressing the water flood with a bit more pace and even do the odd impact drill for good measure. atb
As of January there were more trade payables ($18m) than unrestricted cash, that will only have increased since.
Im not saying the money isn't being well spent, just don't lose sight of the fact that the payables balance is ballooning in place of traditional debt and cash burn. The cash burn would be a hell of a lot worse if we paid the LO bills.
A sound post! About 3 years ago, I forecast that they would have to save money and one way of doing this was to delist. In fact, I'm surprised they haven't already. Various CEOs just 'play' the AIM rather like we do but they tend to win a load more, so what we lose 'they get'....sort of... and sometimes when funding appears, they pay what debt they can and then leg it with a pay off and leave the business Rich (Richer) men.
Haven't seen or heard from ErraticPhil....he's in RIG but I think that it's possible they have acheived what they set out to do and were satisfied with the answers from all the Q&A's for now? They DID get plausible, comprehensive answers to their questions, though. Whether or not the answers were just cleverly made up, I don't know but when I read them, they were almost TOO good and to the point and if those answers didn't quite pan out as expected, it wouldn't surprise me at all. Anything can happen to put paid to.... "I know we (Range) said that X would happen, but Y, prevented it from happening", so when I read all these answers to the Q&A, I automatically go into Cynical mode and like the Newspapers, rarely believe what's written is Gospel. A bit like Old Landau selling us Puntland and drilling umpteen Holes, like 'Wildcat' drilling and finding nothing but each hole containing the contents of a Million Hoover bags!
How much longer can Range last in it's present form without selling it off, that's if there are any taker's?
RRL owes way too much money and would need a large jackpot to get them to the break even stage. I reckon that's why the directors take some shareholder cash and run away! Problem as with most 'AIM Oils' they contain forward thinking statements. It's all garbage to suck in investors who are trying to live the dream. Of course, some big players are in this pile of poo too! So IMHO: RRL won't go down the plug hole until market players have exhausted every possible legally forward statement. Bearing in mind Pistol Pete stripped the company to its knee's then ran away. Also, RIG has gone a little quiet too. Please tell me what if you are mug enough to have a punt and why you think I might be wrong?
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