Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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For once I agree, can't see us getting to 1500BOPD this year but happy if we exceed 1000 BOPD and gain some more contracts for RRDSL, we are growing steadily but forecasting unrealistic figures does nobody any favours. Who knows I could be pleasantly surprised. worth considering though that 1000 BOD @ around $70 per barrel (yearly forecast) is considerably better than it would have been a year ago.
"we will see 1550 bopd. This year " you've got to laugh at the rampers. Company explicitly states 1000 target and that even this is ambitious for 2018, but still the rampers know better.
Oil price It�s a bit of a see-saw life in the oil market at the moment with traders having to be on their toes even more than usual. Yesterday crude oil rallied sharply as it was tariff war off and Syria war back on which switched attention back to geopolitical problems in the Middle East. This morning that trend is continuing with both grades up nearly a dollar and Brent knocking on the $70 door again. WTI $63.42 +1.36 +2.14% Brent Crude Oil $68.65 +1.54 +2.24% WTI One year forecast $72
What are you basing this on? Did they have to take some production offline in order to implement enhanced recovery? If so shouldn't they have advised shareholders of this?
When the results come out on the 30th it will surprise a lot of people, RRL is on the up we will see 1550 bopd. This year gla
January BOPD 777 - First quarter BOPD 731 - That equates to a BOPD of 707 for February and March, a drop of 70 BOPD
bounty, with all respect it was a lame bet. You ramp the share, insisting that that RRL has turned things around yet you were wanting to bet that the bblsd would be quite a bit lower than what was known in January. What was the bigger pity was that none of those constantly bullish on RRL would bet on the bblsd actually being higher.
Not necessarily. You dont know the reasons for the drop. Woukd they have had to stop/slow production to fit the new pump for the waterflood. If this was off for say a week... that would equate to 50BOPD over the course of the month. I am not saying that is the case and it may well be down to depletion or the rainy season or any number of factors but its just specualtion. At least it remains north of 700 which I was confident would be the case. Shame nobody took up my bet... would have been a much nicer chat board. KRO
Today's report was bad reading for the Rampers. Their estimates exposed again as at best wishful thinking, but really just showing a lack of research into RRL and inexperience of the Aim oil patch. While the derampers have (again) been shown not to be deramping at all. Posting what they really expect will happen with absolutely no agenda.
Energy services firm Baker Hughes on Thursday reported that the number of active U.S. rigs drilling for oil fell by seven to 797. The report eased worry that U.S. shale oil production would derail efforts by the Organization of the Petroleum Exporting Countries� to curb supply. https://uk.news.yahoo.com/oil-inches-forward-despite-increased-114800704.html
I guess it depends who you ask, the market is polarised on its option over whether the rise will continue. https://uk.news.yahoo.com/oil-inches-forward-despite-increased-114800704.html
The presentation states that BOPD is targeted to be greater than 1,000 during 2018 Is that the average? They need to be specific
"Can't see the quarterlies (quarterlies?) being pretty and more than likely an average sub 700 bond" So what do you say now Rainbow following this prediction?
Existing production in Trinidad generating revenues Integrated model upstream and oilfield services Near-production opportunity in Indonesia Rapid work plan with production / cashflows scheduled for mid-2018 Clear strategy aimed at production and revenue growth targeting > 1,000 bopd during 2018 Balanced mix of shareholders retail and cornerstone Experienced team invested personally
Existing production in Trinidad generating revenues Integrated model upstream and oilfield services Near-production opportunity in Indonesia Rapid work plan with production / cashflows scheduled for mid-2018 Clear strategy aimed at production and revenue growth targeting > 1,000 bopd during 2018 Balanced mix of shareholders retail and cornerstone Experienced team invested personally
� Existing production in Trinidad generating revenues � Integrated model upstream and oilfield services � Near-production opportunity in Indonesia � Rapid work plan with production / cashflows scheduled for mid-2018 � Clear strategy aimed at production and revenue growth targeting > 1,000 bopd during 2018 � Balanced mix of shareholders retail and cornerstone � Experienced team invested personally
"strategy aimed at production and revenue aimed at production and revenue growth growth targeting > 1,000 during 2018" But hold on what were the rampers saying: "Bickers: As for 1000bopd I have 2x views.... we could be there now or at least very soon "Agnetha: When do you anticipate the 1500 bopd? At end of 3rd quarter " Well looks like the presentation is confirming that it is the derampers who predict most accurately, and the rampers need to stop well .. ramping In fact I need to post more here.
The production shown was an average for Q1, we don't yet know what the current production level is, my betting is it is higher than the figure stated in the presentation which would have taken quite some time to produce by the way.
Pity about the production. When are they going to get it into their thick skulls that none of this matters if they do not produce enough oil and fail to give shareholders value? Going from BOPD of 777 to 731 means that they have already lost the 46 bopd they expect to get in Indonesia. This is the never ending story of the failing Trinidad oil wells that lose production as quickly as they gain it. It is such a moveable feast that it is hard to understand what is happening without far more detailed analysis and reporting by the company. No more pretty pictures but details of how they intend to stabilise production over the long term so that the company can actually point to something that will bring success. I rather think that they will need a stellar oil services company to save the day, although I hope I am wrong.
https://www.asx.com.au/asxpdf/20180409/pdf/43t1hggg9580cn.pdf Excellent quality and content! C’mon Range!
and US$20 Million Convertible Note Financing Range is pleased to confirm that following Shareholder approval at the General Meeting of the Company held on 7 February 2017, all the conditions for the US$20 million convertible note financing have been met. The issue of the convertible note is to replace a portion of the outstanding payable balance due to LandOcean Energy Services Co., Ltd. ("LandOcean") under the terms of the Integrated Master Services Agreement. At the date of entering into the Convertible Note Agreement (31 October 2016), the outstanding payable balance due to LandOcean was US$35.9 million. Key terms of the convertible note can be found in the announcement published on 31 October 2016 and the Notice of Meeting dated 5 January 2017.
Just to remind people UPDATE ON LANDOCEAN PAYMENT ARRANGEMENTS As announced on 2 May 2017, Range has an outstanding payable amount of approximately US$39.5 million due to LandOcean Energy Services Co., Ltd ("LandOcean") which is due for payment no later than April 2020. This amount has been incurred since 2014 to date under various purchase orders for drilling and other oilfield services provided by LandOcean to Range in Trinidad. Range has received notification from LandOcean that it has entered into a short-term factoring arrangement with Huayuan Commercial Factoring Ltd and Sichuan XW Bank Co Ltd (the "Factor"). Range has consented to the factoring arrangement and has provided a confirmation that if required, it will pay the invoices when due to the Factor, instead of LandOcean. The factoring arrangement entered into by LandOcean with Factor has a maturity date of 30 April 2018 which results in a mismatch between the maturity date by when LandOcean require to repay Factor and the due date for payment by Range of the amounts due. There has been no change to the contractual obligation of Range to repay the invoices before April 2020 and Range has no express obligation to repay Factor prior to that date. However, Range recognises there is a potential risk that should LandOcean default on their repayment obligation, the Factor may attempt to demand payment of the invoices by Range at the maturity date. To provide Range with further comfort on this point, LandOcean has provided Range with a guarantee and indemnity to ensure that Range does not have to pay any party (either LandOcean or the Factor), and LandOcean further indemnifies Range to ensure that Range is only liable to pay no later than April 2020.
Just a little detail you seem to have missed: Financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million);
Bickers, Glad to see someone providing a counterpoint to Rancidbottom’s and Surely-you-can’t-be-that-sad’s constant negative standpoint. The quarterlies will be critical, but if we are anywhere near the 1000 bopd then their continual waffle will become less and less relevant. Best wishes.