I am sure we will reach 12p again if only very briefly. Why? Because if trini is cash generative we can fund more drilling and go on to build a substantially profitable company. This is just the very beginning....
Ls ... I Know and its getting more exciting by the day... I think thisis only just the start.. I expect 10 by end of the yr.. even thou 20p short term has been mentioned....The future is bright... very bright...GL..
A back of the envelope calculation suggests that even at a rather a pessimistic US$15 a barrel ‘netback’ the group should be close to covering its costs at 1,000 barrels a day. Analysts suggest the netback is more likely to be US$16-25 a barrel. Scott Russell won’t be tied down to a longer term target, principally because he isn’t sure just how much money he will be able to secure as debt. But it is fair to say 2,500 barrels looks like an achievable near-term target. Range isn’t totally devoid of excitement - even though management’s mantra is that 'boring is the new exciting'. In the last round it picked up the St Mary’s Block and it is farming into Niko Resources’ Guayaguayare acreage on the south-east coast of Trinidad. With this acreage position and P2 reserves of 22 million barrels, Range has come from nowhere to be the biggest private onshore operator on the Caribbean island.
The shares, currently changing hands for 2.2p each, are up around 80 per cent since Scott Russell joined in February this year. But with a price target of 3.7p a share, Cantor Fitzgerald believes there is further significant upside.
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