Pretty fair assessment of where we are, RSR has a job to do, we have being awarded the St Mary's block which suggests to me without doubt that a line of credit has been agreed how else could we convince the TT gov to award us the licences instead of Trinity.
Ok Texas looks to have fallen through, no RNA to that effect but we have the asset and the $1m deposit so by no means a disaster.
The key to unlocking the potential of TT is the disposal of Georgia. Hopefully we can have a more straight forward transaction than Texas.
Does it not strike you as odd that we get some pretty high powered Execs on board, why would they join if they hadnt seen the funding being arranged. No brainer that things will be getting much better around here and very soon.
Well should not have long to wait for a TT update SQ looking pretty good so will this be the slow and steady return of some much needed sentiment.
so nothing interesting.....like many others on this baord he also highlighted dire state of Company, and have categorically stated that its not a buy recommendation......seems long haul from here, and hope is there only for buyers at this level that too not without risk....PL accumulated lots of dung in the form of assets spread across continents.....
He doesn`t say avoid RRL like the plague, some positive comments, and some cutting comments too about the previous management. Weve certainly been well shafted in the past, lets hope we can build from here, the debt burden and the IOP and Texas uncertainty are taking their toll.
That leaves Trinidad which is undoubtedly the core of the portfolio, it has 17.5m barrels of proved P1 reserves, is low risk, relatively low cost and is producing around 600 barrels a day of 25-35 API oil. As you know I am a big fan of Trinidad and I feel that with the recent change in approach by the Government the tax environment is improving and that Range has a real opportunity of proving up some very decent exploration prospects. - See more at: http://www.malcysblog.com/2014/04/oil-price-eni-range-resources-thalassa-sundry-and-finally/#sthash.hC0e0ypx.dpuf
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