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Do i agree ? Production has been well under 1000 bpd for the last 6 years. So it is not going to be above 1000 bpd by April/May. Happy to take a bet with any of the mult id rampers though, be it Athena71 / Buckz / Pedrob999 / MickDee or 1974bickers If production is above 1000 bpd by end May I'll stop posting here . If it is below then the ramper stops posting here. Anyone ?
Despite claims that the sp is in a downward direction we close flat again as we have done for some time now. I would say that the sp is currently pretty stable and I too would expect a significant uplift in our production in this quarter particularly with the new pump and additional 700 BOWPD due togo on line this month. I realise that the benefit our water flood will not be immediate but it all adds to our production figures. Range Resources Ltd (RRL) NPV Sell: 0.15p | Buy: 0.20p | no change
"1000 bopd seems achievable April/May" Athena, which year are you referring to when you say April/May ?
Me too Pal, royally robbed by more than one or two b'stards over the years. I just wonder how many walls 5.1m share certificates would cover. One day Rodders sums it up well. Good luck to you too Buckz
$62.51 +.7% also noticing two bed an isa�s Gone through to day made to look like sells clever. Imo
I have had the somewhat doubtful ‘privilege’ of being involved with this company for the past 7 years+ so I’ve seen the highs, the hype, the disappointments and the blatant lies and there have been plenty. Anyone who’s been around in the same period will know the story and will have felt the same pain as me. Of course like so many others I was caught up in all the hype and, yes I have more of these bu**ers than any sensible soul would ever have. Am I fed up with the events of the past few years and the impact on the SP? Of course I am. Do I think where we currently are is acceptable? Damned right I don’t! Can I afford to write off my ‘investment’ ? Too right I can’t Do I believe that all is lost? Well, there are far more encouraging signs than there have been for many a day. 777 BOPD augurs well for the next quarter results and beyond. It may take a while yet, but we may just be on our way at last. As for all you naysayers, trolls,uninvested and the like, whatever are you trying to achieve? Do youselves (and all of us) a big favour and go get a hobby, job or something that makes you smile. There’s more to life than sitting at a keyboard bashing a share that has done a decent job of bashing itself! Good luck all. One day Rodders....
Range is on the way back, a long hill to climb but we are moving in the right direction with oil stable Proposed Fact: "Range is on the way back" Actual: The sp is at an all time low Proposed Fact: "a long hill to climb." Actual: What is a long hill Proposed Fact:" moving in the right direction." Actual: SP direction is still down I think when you state "I post Facts" you mean "I post Fantasy Facts".
“Readers need to know what you are doing .....” so let’s look at what I am doing, posting facts and research about a company I am actually invested in, and will continue to do so.
Rainbow, you cite my original purchase @ 13p, if that was my average I would be concerned but you know it isn't so what is the relevance of constantly quoting it. Range is on the way back, a long hill to climb but we are moving in the right direction with oil stable above $60 a barrel and a target price of $71 this year. RRDSL contract about to be announced with a super major, water pump to be installed this month according to Eva. Lots of reasons to be positive.
$62.34 +1.15 +1.84% 2018.03.18 end-of-day Brent Crude Oil $66.21 +1.09 +1.65% WTI 1Year Forecast $71 / Barrel
That was snippet (autocorrect) lol
A sniper from Malcy's blog today Trinidad As has been seen by results from Range and Trinity recently, along with a good operational update from Touchstone last week and now this, the outlook in Trinidad is very bright as I discovered in my recent visit. I expect other companies to follow suit and take analysts and shareholders out there after which I suspect they will be as impressed as I have been.
Bewaresahadows, my point was not whether RRDSL was a good or bad thing for the business, just highlighting that Surely was at best being selective with his posting. Time will tell over RRSDL, I suspect the sale/acquisition was a way to get the rigs wanted - this is not backed up by any fact but effectively it was off loaded and then when it came back it was with new kit and the purchase was set up in a way that was not just an outright loan. KRO
Bounty, "Cash is there to be used" for investment only if there is enough left over after costs to do so. However this company is loss making at the operational level. This means that when it uses it cash there is not enough coming in to replace it. Therefore the cash position is very important. How long will it last.
Bounty, I appreciate your point that you need to spend money to make money. But lets not forget that one of those acquisitions was a recent sale. (RRDSL). So it's one thing to spend money acquiring useful assets but this same BOD had only decided about 18 months ago that one of those assets was a drag on this companies balance sheet and it would be better to have the cash from selling it and rent assets instead. To me that kind of indecision would be of some concern. Even if its simply from a point of lost fees in the buying and selling process.
Surely, nice effort in trolling but you seem to think cash is the be all and end all. The cash is there to be used, which they did in the 2 acquisitions of RRDSL and the Indonesia asset. If you have �5 and you are hungry, you spend �3 on coffee and a cake, you now only have �2 cash left but have goods to the value of �3. You clearly know this but want to paint as negative picture as possible. Never mind as the report only covers up to Dec 17 which is now nearly 3 months old, that even pre-dates when you seemed to turn up on this board posting your �wonderful insight�. Perhaps you wish to comment on the working petroleum system in Puntland, or the duster in Georgia, I am sure you can provide yet more expert analysis on these. FRO
By far and away the most important line in the recent results was the cash position. "Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million)."
Dont engage with these posters, disruption and argument is what they want, it is a tactic they used to shut down debate on iii, just report them and let admin do their job.
How did we get to that ? Did we have a big jump at some time in that month to get to that? What will we get for feb/March? Very much looking forward to Q1
While we are on the subject of selective editing it might be worth looking at Surely's summary of Financial highlights, just one line extracted - Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million). No mention of the qualifying sentence that came after - "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" For those that missed it here is the full unedited summary: Financial: 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.
Shareholders enjoy coffee and cake on Friday.
It’s not too bad at all! If the quarterlies show a continued increase in BOPD the we really may be turning a corner... steady quarter on quarter production increases just as the oil price is stabilising in the 60s ! If they can work on refinancing the loans later this year then they should change the company’s name to Phoenix Energy!
The RRDSL acquisition gives Range a Trinidad based fleet of modern drilling rigs, workover rigs and equipment that will reduce costs and provide �operational flexibility� as well as expand its third party client base. We saw rig 19 ready to go onsite and I noted that the drilling manager had already made some very smart adaptations so that it could be used in tight locations with a smaller load of kit if needed, often the case here. Rig 16 is a more powerful rig and could easily be moved elsewhere in the Caribbean or nearby Latin America as it can easily handle a +13,000 foot drill, deeper than normal on Trinidad. We also saw a number of workover rigs either working or on warm stand-by all having been used recently either by Range or for other local drillers, the fleet is more modern than almost anything in the region and whilst margins could be better will provide very useful �flexibility� as they say. On the numbers things are also looking up, there is a 77% reduction in pre-tax losses to $8.5m, revenues are up 39% to $5.4m and with opex down 14% to $34.50 a barrel and G&A down 40% things are moving in the right direction. Cash is $10.9m down after recent spending and for the first time in a while the CFO hasn�t had to report an impairment charge. It has been a long haul but much went on when the shares were suspended last year, as the operational success in Trinidad continues, Indonesia starts to see some action and RRDSL gets some 3rd party work should easily see Range be back on the right road.
Range Resources Interims to 31/12/17 are out this morning and present a welcome return to health for Range where genuine operational focus is leading to positive results. I visited Trinidad last week and was allowed full access to all its operations and met with CEO Yan Liu and the new COO, Lubing Liu, no relation. As readers know I always think that field trips are important for two main reasons, one obviously to take a look at the assets but also to spend some time with the management and the operational leaders. I am happy to say that Range ticked the boxes in all these areas, operationally things are picking up and specifically, as can be seen in today�s results, the Beach Marcelle waterflood is reacting positively to investment of time and money. We were also able to take a good look at the fleet of rigs which are indeed modern and in one case almost ready to go out on assignment. On the management front it was more important than usual to meet the CEO, Mr Yan Liu who as far as I know has not yet met many analysts or investors, this being the first visit to the company for some considerable time. He, and the new COO who is new in his position but not to the company, having been a non-exec until recently are clearly hands on and determined to make a success of the company. Today�s results therefore give an indication as to how things are progressing under their charge, early doors admittedly but there are definite signs of a recovery. Operationally, in Trinidad production in the period averaged 606 b/d, up 22% which was mainly due to concentration on the waterflood programme, selective development drilling where two wells were brought on-stream, and with workovers where 130 were completed. The Beach Marcelle waterflood is a �vast majority� of the company�s reserves in Trinidad and it already accounts for around 30% of production. The recent CPR confirmed net 2P reserves of 16 MMstb and net 2C net resources of 8 MMstb which gives plenty of room for upside now that the work programme is being put into action. In Indonesia the company are in the process of building an experienced operational team and undertaking initial geological and geophysical studies as well as preparing a suitable work programme for which a budget is being finalised. Here the CPR gives Range confirmed net 2C contingent resources of 10.9 Bscf and 3.1 MMstb. The company has a fairly undemanding set of work commitments and I expect that they will easily pass through them as they re-initiate production in this area.
That was it then, spike over. Two tiny trades at 0.245 and 0.25, that was your lot. Then back to downward trend now. Seems Malcy wrong again, or at least the market doesn't agree with him again.