Yes, I know. I wasn't going to argue then but with aim, anything is possible but £500m market cap in 3 months was definitely pipedream material with the value of RRL hingeing on its production. Perhaps in a few years with the right strategy and funding, it is very possible.
Many here hold him in high regards. so lets leave it as that. It pays to be cynical sometimes.
I think it is easy for them to string PIs along at times as too many of them focus solely on reserves and what the oil in the ground is worth - rather than the more important factors like extraction rate and level of profitability. If you looked around AIM I'm sure there would be dozens (if not more) examples of oil fields or mines that on paper are worth a fortune, until you look at profitability more closely! Trinidad has and always will be about getting new wells online quickly enough to out-strip depletion - obviously there are the lower targets that could potentially add significant amounts of bopd, but given the way they've been drilled so far that isn't going to be earth-shattering unless things change dramatically. All in my opinion of course and RSR really needs to deliver this next target bopd or preferably exceed it.
Thanks, good to chat on Monday. I'm afraid my cynicism is worse now than it was, but justified. As you may have seen, I wrote a very long letter to Range this morning but cannot post it here for fear of being shot down by some here. Not yourself as we appear to share some of the same views.
Did you here one of the chaps on the table (to your right) quoting Double Digits by year end? Won't mention his name here!
Nice post Rexco. Completely agree. As RSR said, 'only now' can we begin to grow. He's cleared out the old PL mess. Are there issues, yes of course there are. But Trini is a world class asset. And I fundamentally believe now with LO onboard and the new BOD, we'll be able to get that damn oil out.
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