Some of us bought agricultural land, got permission to build a rustico type house that is arguably for agro use, ahem, and now look back warmly on a total 15k spend for two storey, pool and hectare plot with producing olive and almond crop.
Helped to have a builder and a landscaper in the family.. consolation for a ridiculously high 1.3 ave here, on circa 3.3 m holding.
Motorway “plots” for camping sites fetch a significant premium over plots on the coast, because you can build 1200 unit sites inland. The land isn’t available on the coast. Developers are paying more per acre for land with equivalent use. Economies of scale.
I didn’t mention people selling houses to buy a motorhome. People are buying motorhomes rather than a 2nd home in Spain, this includes those that are downsizing, releasing equity and investing some of this in mobile living, they are not in the market for a 2nd home, this has had a knock on effect in Spain and hence the building of super sites. facilitated by changes in regulations.
LGO & TRIN have just about managed to sort out $12M of debt a piece on bopd over 1000. RRL are just about to take on $50M liability on 550 bopd, not a tempting proposition.
Complete tosh and fabrication like most of your posts. Coastal land still a lot more expensive than land next to motorways.
Does ANYONE here know ANYONE who has sold their home and bought a motorhome instead? No, me neither. (Although did know someone who went bankrupt and lived in his motorhome) I do however understand how lousy traders have to move in land and up mountains to afford a property (Especially those pumping LGO & TRIN)
The also want the right to make up their own minds whether to buy or not without being hounded by some annoying time-share salesman who is ultimately only interested in his own commission and couldn't care less anyone else.
I heard the same drivel when I sold all my shares 3 1/2 years ago between 6.5-7p. Your post sums up the emotion of never say die range investors chucking good money after bad and refusing to believe they have made a bad investment. All this board have done is exactly the same, via a different method, because the previous way range was funded was no longer viable. Landau realised this so apparently bailed but left business associates in charge....of course he did! It's easier to get shareholders to fund lavish remuneration packages than it is to make money out of drilling in Trinidad as has been shown by every oil company in Trinidad. Has no one wondered why any of the companies don't drill deeper wells to improve production? LGO drilled ONE well that produced over 4 figures initially, this year, and now have total production less than that .....depletion rates are awful in Trinidad and there isn't anything range can do about that.
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