Martin LGO's Landau states ""As the Company and the industry as a whole adjusts to the sustained low oil price environment, we are pleased to have reached this agreement with BNP Paribas. This will provide a firm financial platform for LGO to maintain the momentum of our oil production operations in Trinidad." This is after the company loses its funding from BNP and has to pay off a $10.8 million loan over 21 months at 5% interest which excluding interest works out at over $500,000 per month which at current oil prices means that about 400 of their daily production goes on paying the debt and they have little funds left to support any drilling. My figures are approximate and subject to change. Oh yeh, LGO is a much better bet than Range. Pile into LGO guys!!!!!!!
Look at the aggregated position of the 3 companies compared to RRL. The combined entities are in a much stronger position. RRL has to take on more debt than the combined entities to match their production. Just different stages in the development cycle.
I came out even, because I got greedy, but I also realised that the rubbish being spouted on RUM was to suck people in and it always had a ring of truth to the info but was never quite correct. Obviously when you are £300k up and walk away break even it does grate a bit, however I sold Rrl and rmp for £200k ish. Now I look back on it I must have been mad to invest that much in AIM sticks and I would never do that again, but I made a decision to see Shabeel 1 through not realising what a pump was being worked. If I had held that holding would be worth £6500. 2.1m 6.75p average, 500k 17.5p average
My posting will not bring the SP down. It will however allow potential investors to look at things in more detail, which I suspect that they will find more helpful than the posting history of a few on here.
For example the investor who claimed the dry hole was for water flood and then claimed that there was not tax to pay on future production was corrected so that potential investors are not misled.
As you say “desperate hope” is required that I am proven wrong.
Please put Oma on filter. Bear the following in mind. Do not argue with an idiot. He will drag you down to his level and beat you with experience. This is why I gave up having any conversation with him.
You told us what you sold for buy not how much you bought for, just curios whether you were shrewd in selling at a profit , in which case why still post, or like OMA took a big hit and are still here because you don't want to see Range recover having taking that loss. A genuine question but your call if you chose to answer or not of course.
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