wikkiman: Yes.... BOPD/revenue virtually unchanged and as expected - fractionally up and still dire. "we aim to complete three to five development wells in Q4'14" - 3 to 5 wells in the entire quarter.......truly terrible. Rest of it basically fluff we already knew.
You're usually a happy bunny at night and a grumpy person in morning.
The general view of the night owls across the boards seems very positive. Our safety record, our new uniforms, our new clear presentation of Annual and Quarterlies - yet you want even more. :-) I think we might have 5 rigs fully operational for Jan, Feb and March. And that should safely allow us to exceed 1000 bopd right throuh that period - as per delayed RSR target.
What I like about new BOD is there is very little deception. Everything has gone more or less to plan. Production delays are very frustrating, like sales of Texas and Georgia. But costs are being hacked away and we still carry the luxury of dual listing and Directors and office in Perth (why?). It seems it will all come right with only the slightest bit of patience.
Lewis - I'm not sure if that's right but I'll take your word for it. If it's true it's a pretty depressing picture. Especially in Range's financial situation. At best that would probably result in only mildly better than a stagnant bopd. I agree on the potential which is why I'm more than frustrated (and have been for years :p). I was willing to give Rory a decent crack of the whip. He's starting to exhaust the patience now though. From the minute he took office, simple quick wins at raising the bopd should have been priority #1, priority #2 or equal #1 should have been cost cutting. Off to sleep now for me. Grumble grumble.
RTN. And I doubt we will have much more than 3 rigs working for a time yet - based on fact that once the the fifth rig is out of maintenance and two others have obtained permits, the two existing rigs will probably need to be taken out for maintenance.
It looks like sixth is caput, but this time next year 5 rigs vs 2 rigs should be an impressive comparison. And we know the area is awash with oil cf LGO at 700 bopd.
You're welcome for the bopd prediction which was spot on as usual. Sadly it was yet another terrible RNS. TWO rigs drilling!? Even friggin Landau managed better than that and he can barely value an asset based on comparative companies according to old presentations. I genuinely want to buy back in but they're making it fkin difficult. Even more grumpy than yesterday now.
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