I can tell you what the BOD plan it is blatantly obvious, raise $50 million in funding, use the money to focus on our world class assets in Trinidad. Radically increase production with 4 possibly 5 rigs working in Q4 2014. Bring on waterflood programme with LO's technical support, revisit Herrera with some deep drilling. carry out seismic programme in St Mary's block TT. Complete sales of both Texas and Georgia. Recover funds from the IOP either when sp recovers or when their assets get sold. In addition to which we still have 20% of Guatamala through LAR, a potential free carry in Colombia and a 20% stake in Puntland to look forward to in the future.
Then once we become a profitable mid tier oil and gas company (TT has masses of gas too), instigate a share buyback or even a small consolidation which could halve the share in issue and attract more Institutional investors.
Now tell me what you think a No vote will achieve apart from allowing you to vent your anger.
What gives you the right to tell people how to vote. voting No to everything would effectively destroy this company and what do you think will happen to the value of your 13 million shares (really?) then? Personally I don'y think anyone with that kind of holding would be crazy enough to want to vote out our current BOD, reject this finance deal and start again from scratch. That would be an act of total madness IMHO.
This was posted 27 May 2008. Don't know when PL became CEO , but it looks like this 20c (12p?) took off to giddy heights later in 2008 and touched 40c at one point.
I think there were about 2m shares in issue then, so MCap would have been about £250m compared to £40m today.
I just cannot see there is huge logic in AIM shares, and doubt the price equates to bopd as Rich the Newbie seems to suggest. Sorry if my maths and history is all wrong. But if the company was tootling along quite steadily until 2008, it does seem possible that good management (I think we have that) and renewed confidence can at least get our MCap up to £250m quite quickly.
And £250m MCAP spread across 8m shares still gives us 3p a share. Which would give a nice start and bring a few smiles back.
"This stock may have bottomed away, and has and shown some sparkle today. Several updates are expected. The 0.20 cent critical barrier was achieved before closing of trade today. Chart indicates the very start of a new trend after recent consolidation.
I had these stocks many years ago and sold out at a small profit. The share price value hasn't changed much in many years. With recent events occurring and on the the back of today's seismics, it seems like RRS have just got their skates on."
Posted by Andy78. I don't know history of Range, but 20 cents!!!! And I think price went up quite a bit later in 2008. What an absolute disaster. Do we really not think that present BOD are working pretty well as a team and doing useful things to get sp up from present 1.5 cents and achieve at least their 4p for passing "Go".
RTN. On your calculation of 20,000 bopd to achieve 10p a share on what you suspect will be 8m shares in circulation (doubt it will be but AGM should clarify that), how many bopd was Landauslide achieving when share was 40p with 2m shares. Assume Range must then have been producing 20k bopd and had no debts. Or have you missed something important about AIM share prices?
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.