Some good insights on charts from last night. Thanks for that. Always learning.
Your posts make sober reading. Another thank you.
They are nowhere near ready to start pumping enough oil to cover cash outflow. I would put that to be somewhere around the 1500 to 2000bpd mark and even that is unproven because we don't know how far the production costs will rise in line with bpd. RRL has only ever got to a top bpd of 1000bpd briefly. The field could turn out uneconomic under current set up of clapped out rigs, expensive workers, more outside contractors, PL's flight and hotels.....
I am guessing for Q4 the bpd will be somewhere around 500bpd so the rate of share issues will quicken with lower SP and falling production. Will it turnaround in Q1? Will Texas save it for a few months? Nearly 3.3 billion shares FFS and yet people are talking about 50p, £1. It will take a mega gusher to achieve that.
BTW, you are going to cop a lot of flak here for stating your negative views so tin hats....
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