@hardcash - thank you for the clip, I watched it. As you rightly said, he did give a view that Trinidad assets could be worth 50p with a nearer 10/20p potential but I don't think he would have come up with those numbers against indicated reserves. Mathematically you can't get to 50P when using NAV against the current free float.
Having said that, in his interview from less than two weeks ago his 5p target ties in with production upgrade possibilities over the short term which as you know is still measured up to a year. Let's hope the average short term predictions come good. By the way it's NoHypeJustBalance -- I'm sure you didn't mean to be sarcastic as the discussion this afternoon has been refreshingly void of needless elbowing. I'll assume it was a typo ;)
Cheers guys - very helpful on the map and acreage (wow - big). Will look more closely. As I understand it is sandstone so quick to drill - as we see with LGO - they seem to get down there very quick with each new drill. Note all LGO wells flow on natural pressure and they apply chokes to limit it! Also no treatment needed - just pure oil. Some recent discussions on large gas bubbles on top - hence pressure. They are going to explore gas options. Each well at least 250 bopd. Not ramping LGO just saying! I will keep a close eye on RRL looks very exciting.
@ nohopenobalance in malcy's interview dated June 3rd www.malcysblog.com/2014/06/tip-tv-highlight-3-june-2014/ Very interesting clip giving a brief description of how the company is moving forward since new management. He Quotes that Trinidad assets 'alone' could be worth up to 50p and that there could be an upside 10/20p target . I understand his 5p target to be short term. Check the link, I found it helpful. ATB
That is a good balanced post NHJB. I am guessing to get over 1000bpd quickly, they will need all 6 rigs firing on all four cylinders. They will need remaining two rigs to join the fleet. They will probably also need a bit of luck with further South Quarry drills.
That will of course take money which RRL doesn't have much of at them moment. So I suspect as RTN have pointed out, the 'big kick off' will depend on further financing/asset sale. I do agree with your view on valuation and SP.
At 5p, this would be pretty fully valued at a market cap of £250m using 5b shares as the calculation point considering production of 1000bpd. Of course, with range, the sentiment can always cause a massive overshoot as this share has always been very rampable.
To answer that I'll copy and paste a bit of an old post of mine (and add a bit on the end):
Was replying to someone else's question on another forum asking if the Goudron block labelled in our recent presentation was Leni's (which it is). Whilst looking at the diagram it put things quite nicely into context when you see the sheer size of our acreage position there: - Niko farmin (50%) - 280,170 shallow acres onshore and 293,999 deep acres offshore - St Marys Block (100%) - 44,731 acres - Morne Diablo (100%) - 9,300 acres - South Quarry (100%) - 3,700 acres - Beach Marcelle (100%) - 3,500 acres
I think this highlights nicely the huge position and potential we have to exploit. Every reason to be confident we'll now start actually drilling it properly and realising some of the potential.
Having said that Leni have started to exploit it faster (hence their recent rise on good success) and we're only really about to kick off properly (having fannied around for a year or two).
As for the techniques. They'll be similar straightforward shallow drills for a lot of stuff - and waterflooding as well in our case. Beyond that who knows what they might do - horizontals/fracs etc - it's certainly been talked about in the past.
This was the presentation they presented at the Oil Barrel Conference. The map on Page 10 gives a very good map on the prospects Range holds in T&T. Don’t know how that compares with LGO as I don’t know much about LGO.
Rich Surely any boost to Range finances whither it be RBL/Texas/Georgia would provide funding that would kick start a substantial development in T&T. A substantial boost to development would obviously boost production and cash flow. Range then becomes a much more attractive vehicle for investors and the SP will reflect this. I think until the SP is 5p+ we are going to be dogged with profit taking some times keeping the price subdued, might not be a bad thing
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