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"if you looked at other similar sized AIM outfits, then I have never seen a Field operation which is profitable at such low similar levels of production. It is subscale." There's one right there Celtic. Please provide your own fact to counter that if you like.
Post 14:05 "ok, Yesterday I posted some opinion on Indonesia and brown field sites. Have a read of that first, it is not bullish as you say. Feel free to challenge the negativity with your own facts." So where are the facts in this?
petebo: " We are asking for your the facts " See post 14:05, which answered this request already. But you seem to be purposely ignoring the responses, possibly because like Agnetha they are not the views you want to hear.
Hi Phil Yep,sad that they have wrecked the BB from any real discussion for whatever twisted reason and cant back anything up with facts. Beer sounds good.
Surely, we are talking about RRL. We are asking for your the facts to support your very negative posts. I too try to understand the views of other posters, especially when they have no facts to back up their negativity.
Hi Petebo, you still watch here a bit too then. Good to see a sane poster in amongst the keyboard warriors and charity workers who have dominated this board with multiple posts on a daily basis, rendering it pretty much unreadable. Must do beers sometime, it's been ages.
petebo, Please stop trying to make me the subject of discussion. Lets stick to RRL.
That was of course Malcy, thanks auto-correct!!
Malay also staes that "Indonesia is fast becoming the preferred post code for companies looking to add efficient barrels to their portfolios." Good to know that our management certainly seem to have their finger on the pulse.
While we are on that topic I notice from today's blog from Malcy that Zenith Energy are also buying into Indonesia due to the favourable terms offered by the Indonesian state. Zenith has announced that it has entered into an option to purchase with binding exclusivity an oil production asset located in Indonesia. The proposed acquisition envisages Zenith acquiring a 100% WI in an oil production licence which contains two onshore blocks totalling 65 sq kilometres. The licence produces in excess of 1,000 b/d which is transported into the national sales system at an all in cost of $18 pb.
Surely So you are not invested in Range and have never lost money in them You consider an investment by reading bulletin boards. You decide not to invest but waste your time posting on a bulletin board to help other people. ......You should change your ID to Surely Not We all know RainbOma did his todgers on Range and doesnt have anything left to get it back so we excuse his bitterness Lets see what the quarterlies say, the loss has been reducing so with a bit more progress the good folk here still invested may start to see the SP rise and you Messiahs can go troll elsewhere
CH "Constantly drawing the conversation back towards their current focus. Indonesia" It was Agnetha who brought up Indonesia and claimed it would be profitable soon. When challenged, starting from 40bbls-d in 2018 how it could be profitable even in 5 years, he sheepishly admitted there was nothing to back up his claims and it was "just hope" Now bizarrely none of the rampers want to discuss Indonesia and seem annoyed when it is mentioned.
You mean this quote from a TRIN RNS "...The regulators were unable to gain sufficient comfort on the transfer of ownership and operatorship..." that refers to Trins offshore assets NOT to the ownership of range which your post sating "uncertainty towards ownership" was clearly meant to imply. The TRIN deal was ongoing while Range was still de-listed, I am not surprised the authorities had reservations at that time but we are now re-listed and have an ongoing relationship with both TRIN and Petrotrin so I am not sure the point you are trying to make.
pete, When i read a Bulltetin Board I want to hear from investors and those with not so rosy views alike. That is very important to me. Personally I then , if I am seriously considering the share, check the history of the posters to get a rough view on who is getting it right This is an extremely important part of the evaluation, hence why I post here. There will be many who read these boards, who appreciate the time taken to challenge the rampers , who don't necessarily post themselves. ( btw I haven't lost money on RRL and am not in any way bitter, perhaps you are confusing me with Agnetha )
Would you like to provide facts to back up any of those statements? I don't mean just repeating the same rhetoric but cold hard facts and figures Lets start with "uncertainty towards ownership". Seems pretty clear to most shareholders.
Surely. Many of the guys losing money here are understandably pleased to finally see shoots of recovery coming through. Over the last few days there have been many facts posted to support the operational improvements. You and your fellow trolls can’t support your negative drivel with any facts relating to the improved figures Range are delivering. Until you do, you will continue be considered a bitter ex shareholder that simply can’t move on. So so sad you are mentally unable to do so.
The problem is Pete these posters will latch on to one element, in this case short term Indonesia, that suits their agenda and totally blank anything that does not, such as the greatly improved financials. Constantly drawing the conversation back towards their current focus. Indonesia is a longer term play it is not the reason why we will become profitable in the shorter term, incised production from water flood, new drills and improving POO are though. Not forgetting that RRDSL is starting on the path of becoming a source of income in its own right. Watch the conversation switch back to Indonesia.
ok, Yesterday I posted some opinion on Indonesia and brown field sites. Have a read of that first, it is not bullish as you say. Feel free to challenge the negativity with your own facts.
Surely, you are constantly predicting the SP will go lower. Back up your constant negativity with facts or just accept you made significant losses on Range and move on. You really will feel better.
pete. I've never posted about RRL's debt issues or about it "going bust". So you are getting a little carried away asking me to back up things I haven't posted.
I wasnt talking of multi ID's (although OmaRainbowYouTrailorPark certainly is), I challenged you and the other bitter ex-shareholders to back their constant drivel up with some hard facts to show us why this is going bust. So far all I can see is a big fat ZERO response
Petebo, talking of multi-ids, looks to me like Agnetha has been removed. After assuring us all she had never posted here before, it turns out she was just another bitter multi id shareholder. What a surprise that was. I wonder who will appear next. Well done Admin, seems they understand the tactics the rampers are playing, and are allowing balanced views to be discussed.
I don't think they understand that RRL can refinance the debt if they become profitable and show they have the cash flow to repay the debt over time. Additionally the first medium term debt to mature is the convertible loan which can be repaid with new shares in need. The improving financials should to be seen as the first step in reaching the initial goal of becoming profitable. The question is what BOPD is needed for Range to become profitable.
Maybe its time for RainbOma, Surely and the other bitter ex shareholders to put some hard figures down including debt repayment figures to back up their 'its going bust' trolling
In response to your question Alan it is worth taking another look at the half yearly financials. I have changed the header because Indonesia is a longer term game plan, looking at that alone as a source of short term profitability is misleading but it will strengthen our position in time. Financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million); Revenues increased by 39% to US$5.4 million (prior year: US$3.9 million), principally due to an increase in production; Operating expenses decreased by 14% to US$34.5 per barrel (prior year: US$40 per barrel); General, administration & other expenses decreased by 40% to US$3.2 million (prior year: US$5.4 million); No impairment charge has been recognised for the first time since 2013; Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million). The reduction in cash is due to a number of factors including the investment into the new acquisitions and the funding of a drilling programme in Trinidad; and Range continues to benefit from the generous credit terms offered by LandOcean Energy Services Co., Ltd across various funding arrangements. The average maturity profile is in excess of two years and none of the credit arrangements have any security, and nor do they have any financial covenants or restrictive controls.