Bound to be main subject today, and that is about as much history as I can take. Really not interested in who did what to who when shares were 20p as shares have never been more than 2p during the period from 1 Oct 2014 to 30 Sept 2015. Officicially is has ranged from a low of .41p to a high of 1.16p
Good set of results (brilliant in comparison to what doomsters were predicting) and they are now history and all that is 3-15 months old. And we are where we are. Would be nice to get good results from MD42N or one of the other 3 being drilled October, something on Lind, IOP.... Curia is good news because the 3 new rigs are getting there and probably on original timescale (early October).
"The Range website says accounts to be published on the 30th. It's now the 30th and no accounts. They always publish on the ASX 1st with accounts news so why the delay? Have they got some other news or afraid to publish the accounts for fear of trashing the share price"... well that was spectacularly wrong then :)
590 bopd and a $22m loss.........cracking results. You must be jumping with joy at only 80% down on your average price with the bid at 0.45p. Or in pounds, shillings and pence.....£33k loss on a £42k investment and apparently you write books for fellow investors. You couldn't make this up :)
Requirements for funds to progress Operations were an obvious and accepted component of growing the Company, hence already built into the depressed share price. What we have now is confirmation of a facility negotiated at a good premium to the current share price, reflecting a good level of Confidence in the prospects of the Company & Management team - and from people much more astute in the sector concerned.
That speaks volumes imho and takes away a significant level of any uncertainty associated with the investment here.
I expect the MMs were anticipating a negative reaction to the Annuals, which is probably what the lowball closing sp has been about but most people (those without an agenda) recognise that this is a pretty decent report at this stage of our development. My betting is that once they see no sellers at the crazy Bid price the Bid will rise as will the Ask
lewis, just had to comment on his false statements so neither investors in Range or MX Oil are misled:
"MXO's Nigerian asset is producing 11,000 bopd" - It's not, it's producing ZERO bopd until the wells have been drilled. "20 times more than RRL" - 0 bopd is clearly not 20 times Range's current production which I estimate is 550-600 bopd.
Comparing end of year production targets for both:
RRL = 1,000 bopd MXO = 550 bopd (based on 5% attributed to Aje field phase 1)
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