Where does it say that they are doing another analyst trip ? What was the result of the last one ? Why don't the analysts that RRL currently pay produce a valuation / target price ? They keep saying under review, because their methodology would say that the SP is above target. The analyst trip will be beneficial for Land Ocean. Malcy is an irrelevance, he's paid to say what he does. Hoe does he earn his money?
The accounts will always show that future oil revenues are needed to repay debts, leaving limited free cash flow. Remember LO announcing the contract was worth $400M over 8 years.
As RRL have said this week, depletion is so high the dependency on water-flood is significant for cross subsidy of conventional drilling costs.
Touchstone, who are probably the best land based operator on Trinidad are a good example of the real costs of drilling on the Island, hence their low MCap.
LO are already publishing the revenues they are generating from RRL as they have to produce a balance sheet every quarter and revenues are recognised. RRL are only required to do so every 6 months. I suspect many are matching the two as LO is so dominant in RRL, albeit there is a weak attempt to hide this by referring to them as Range Resources Drilling Services.
RRL’s accounts later this year will show a significant fall in NAV as the liabilities will have to be shown, with no corresponding revenue and the value of reserves based on under $50. I suspect that shrewd investors will not buy at higher than the NAV per share as this is a production company with limited upside, rather than an exploration company such as FRR.
I was very particular to include the last line that my figures were based on the last year so pointless going back through the history to 2011. How long have you been on this LSE BB? Now here is something you are not normally familiar with - an honest statement and you can print it off and stick it where ever you like. Yes. I have been in the days since not only 16p but 20p although I never paid that amount. Yes. I have bought and averaged down and my average is now below that of the Directors. So now everybody knows if the price goes above .8p and I say I'm in profit then I have already stated my average is below that. Now on the other hand if I use your method I'd just babble away and tell everyone as you have a history of doing so that you bought at the bottom and sold at the top. The only difference is that unless we drop to your much proclaimed drop to .1p we know the truth
You have been here since June 2011 at an SP of 16p and post exclusively on RRL. The price has since fallen 96.8% almost a total wipe out. I have no doubt you have averaged down and the price never rises above your average, throwing more money to Lanadu and now LO.
On the other hand, LGO and TRIN have rewarded with me with over £350K. A total wipe out of FRR such as you are nearing in RRL, would still leave me in profit.
Oma is currently pushing to show how LGO handled their drills and communications with the multi drill pads. The communications and the drill pattern punted the SP to 4.15p. The SP is now .21p less than half the price of Range, down a massive 95%! He also pumped TRIN which he pumped to 17.25p but in the last year it has dropped to 2.25p, down about 87%! His latest pump attempt is FRR which a year ago was .89p and is now down about 70%. These shares have all been the love of his life and in the last year he has constantly criticised Range. Poor old Range with a poor drilling record, bad deal with LO absolutely rubbish management which resulted in the last year of a drop in SP from 1.16 to .48, a drop of 59% - the best results by far. Someone somewhere must be doing something right but it sure ain't guru Oma! I accept that there will have been peaks and troughs within the year but I have used the current figures
Let me break it down for you Dreamboatwarrior, so you can understand. A few years, as any right thinking person knows, can mean calendar years.
I will attempt to illustrate. In December my Old Gran is going on a 2 month cruise and will be back early February. I said to her - 'blimey Gran, a 2 year cruise, that will cost a fortune'. She said I was an idiot but she's the twat who doesn't know a calendar year from a hole in the ground.
Oma I think these people are being deliberately obtuse, you are best off ignoring them.
Celtic ..... I wouldn't waste any more of your time ....this is a guy who said oil would stay under 50 dollars for several years and then claims 7 months later that it qualified and he was in fact correct ...... who also said this "It looks as though we will drift to below .1p over the next few months as even if oil prices rise RRL are not capable of exploiting the opportunity as other investments are." Probably right again In his mind Surely he should be more concerned as to whether a Brexit vote will result in his caravan being towed away ??
No, they undertook production testing, reported the figures. They were then to drill the next well off the same pad with the same rig, before they had an incident which resulted in all activities stopping.
The facts are that RRL initially said they would do production testing prior to subsequent drills from the same pad as others do and now make excuses, including regulatory approvals which never seem to delay LGO
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