The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Well 5p is what I need jut to see break even! Would be nice if I’n my life time!
Rex, as honourable as that sounds I genuinely don't care how they raise the SP. Having been stung by lies and deceit I think a lot of LTHs deserve the chance to get back out. I am confident with the progreas being made BUT lets be honest we are small fry, whilst with a large number of shares in circulation not many of them will be being traded whether thats the big holders at 0.8p or LTHs who have bottom drawered them, I don't think I will take a huge amout to get the rise we deserve. I think we were battered down lower than we should have been and I think the first big rise will likely overshoot where we should be. Nobody really knows the true value of the share as we dont have enough detail in the RNS announcements. BUT if traders see this rising for a few days we could easily see bigger volumes and a higher SP. BUT it may not, purely speculative. Let's get to 0.8p and see where it goes from there... KRO
This share needs positive results not pie in the sky announcements and hype. It is that gambling mentality based on lies and deceit that's cost a lot of investors a great deal of money. Show me the money, show me the cash flow, show me the profits, show me the dividends Only then can we expect to see share price recovery
Come on Celtic, give it a few days, it was a good day, we have had a lot of carp days, be the bigger man and dont try and bait the trolls. Hoping for positive movement today but not sure much will happen. This might explain the reduced work programme in Trinidad as we are no longer flush with cash. Hopefully (as I suggested yesterday) the Shell RNS yesterday was good marketing and a shout for people to look at Range for a good reason for a change. Then provide them with a succession of good news and get a sharp uplift in the SP and the hype cycle starts again. Let's hope the spread tightens and we can actually get some trading happening to bring people back to tge share. KRO
I know some pour scorn on my charts but you have to admit this one is sweet :) [IMG]http://i63.tinypic.com/4qon5g.jpg[/IMG]
https://smallcaps.com.au/range-resources-pertamina-reopen-perlak-oilfield-mid-year/
TIDMRRL RNS Number : 5265I Range Resources Limited 21 March 2018 THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. INDONESIA OPERATIONAL UPDATE Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield services business in Trinidad, is pleased to provide an update with respect of its work plan at the Perlak field, Indonesia. Highlights: -- Early production focused work programme agreed; -- Targeting first oil production in mid-2018; -- The planned work programme is expected to add up to 200 bopd of production (gross); -- Field work expected to commence in Q2 2018 principally comprising well reopenings and workovers; and -- An experienced management team in place and two offices in Indonesia established. Yan Liu, Range's Chief Executive Officer, commented: "We are hugely excited to be announcing an accelerated work programme in Indonesia. Following the completion of the initial study work, Range and its partners have developed a plan to target a rapid return to production by undertaking a low risk, focused work programme. This is a first step towards unlocking the full potential of this highly prospective asset, which has the potential to deliver significant benefits to our shareholders in the form of increased production, cashflows and new development opportunities." Perlak work programme Since completing the acquisition on 30 October 2017, the principal work undertaken has included building an experienced team in Indonesia; working with Pertamina (the Indonesian state-owned oil and natural gas corporation) on finalising a work programme and budget; and undertaking initial geological and geophysical studies. The Company is pleased to report that an experienced operations team of 16 people and two offices, including a field office in Aceh province and a corporate office in Jakarta, have been successfully established. Active recruitment is currently ongoing to fill the remaining positions. The Company is also delighted to announce that the work programme and budget for 2018 has been approved by Pertamina. The agreed work programme significantly exceeds the minimum work obligation for 2018 and comprises: -- Reopening of up to 10 existing, previously producing wells; -- 2 workovers of previously producing wells; and -- Geological, geophysical and integrity studies. This work programme has been designed to swiftly reinitiate production from the historically producing Perlak oilfield in 2018. It is expected that reopening and workovers on the planned wells could add up to 200 barrels of oil p
Considering that the initial stated intention was targeting 120 BOPD from 4 well makeovers and the first year was all about evaluating seismic and establishing a work programme, if we achieve 200BOPD from the first worker we will be doing well. Below is from the original acquisition RNS: "The agreed minimum work programme ("MWO") covers a 3-year period from the date of licence award, and involves geological and geophysical studies, workovers of existing wells, and drilling of one well. The Company has identified four low-cost workover opportunities of existing wells. The Company estimates that these wells will add over 120 bopd of production once brought online. The Company will be evaluating the potential to expand its workover programme beyond these four wells and expediting its work programme."
The indications are it is loss making in the first year. Once again a poorly drafted announcement that provides insufficient information on the project and its profitability. Hopefully the promised presentation will add meat to the bones so we have some idea of when they expect the Indonesian assets to become profitable and help pay off the debt. How competent is the operating company doing the work overs?
0.007 40.000% $0.002 0.006 0.007 0.005 0.007 0.005 9,885,082 traded
[IMG]http://i65.tinypic.com/2l87lug.jpg[/IMG]
Indonesia operational update This is starting to get exciting!!!!!
Athena, I am aware of the positive implications of the contract and I am not doing it down. My questions were genuine, having seen poor PR (post lies era) I am intreagued as to whether they see this as price sensitive genuinely OR are trying to market Range better than it has been in nearly 10 years... Good to see a positive poster join the board after years of "less than positive" posters running the board. Let's hope we get a burst of positive news... 1000BOPD perhaps. KRO
Very pleased for the holders. I never thought I'd see this up tick again. A good day.
Time will tell. Anyhows i can sell for more than yesterday so its a good day. Good stuff on AEX, I don't follow them but good to see you making money. KRO
One workover well does not equate to 29 million traded on ASX or a 66% rise wither, there is more to this I feel
Celtic, I don�t doubt the merits of the contract, it is good news BUT why was it released by RNS, hopefully it is savvy PR as I don�t see 1 workover well as being price sensitive in the scheme of a multi-million pound valued company. Will we now get an RNS for every item of work RRSDL now complete, every contract they sign OR as I suspect is this clever marketing. We are really no better off than 2 days ago, 1 workover well does not warrant an uplift in the value of the company of around �3m. It does show what a downtrodden dog we have been in the recent past. Hopefully as you pointed out earlier it is the start of an upturn, hopefully my last 2 buys remain in profit. KRO Bounty
Cheers Predators :)
Well done all rangers good day for you all and positive vibes. ....that's what it is all about. ....... double whammy for celticheart .........
Range Resources Ltd (RRL) NPV Sell: 0.20p | Buy: 0.25p | up 0.05p (+28.57%)
The significance of this deal with what is a subsidiary of Shell is that it gives RRDSL credibility, not just with other operators in Trinidad but with operators in South America too and ofcourse Petrotrin, who are looking for a replacement for A&V after canceling their lease due to the fake oil scandal. Not a bad name to have on your client list too. I feel that if we perform well on this, which I see no reason why we won't, it will lead to bigger and getter contracts.
Celtic, when I saw a link I was expecting a dreaded chart. Definitely a positive day, but try to be the bigger man, don�t try and call the trolls out as you just ask for trouble. As most people have said, it is good news, not massive as only 1 job but certainly good PR and a foot in the door. Let�s hope that they follow this up with maybe a T&T update with increased BOPD and get the bandwagon rolling. 1 point though, and I am not calling the board out, but is now every 1 job we get signed off for RRDSL going to be released in an RNS or is this just a marketing tool � if it is the latter I am happy that they are using this given poor comms in recent history. I would be interested to see how much revenue this generates. KRO Bounty
Same here Celtic Still in AEX and holding. Best day I ve had in a while
21-Mar-18 16:29:59 0.2324 346 Buy* 0.80 Have you noticed how within 60 seconds of closing at 16:29:59, there have been small buys?. Its to make it appear that Range share price is up as some sites show last traded price as the price for graphs. Some people want to show a certain picture on Range. This can be done by volume posting on boards or buying very small trade volumes to make it look like Range is having a good day & to encourage others to buy to increase the price.
https://smallcaps.com.au/range-resources-shell-drilling-trinidad/