August was not a month of total inactivity as we continued to work hard on the production operations (existing well repairs and work overs). We also continued design and engineering work on the waterflood projects. In terms of drilling, however, it was a month of low activity indeed. As we have stated previously, the low drilling activity was directly a result of lack of funding and hence investment into rigs. With restricted capital, we could only do the minimal. However, we have already made some significant improvements to our operations in Trinidad with new experienced staff hires (including three new senior drilling supervisors) and two rigs are currently drilling as per the latest presentation (slide 12): http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1258.
Given shareholders’ comments, we are considering more regular operational reporting, which will include production figures.
He is just a stooge for either one of the two NEDs on the board. Bukovics and Lyon. God knows what their intentions are. Neither hold shares and Bukovics run a VC firm. They make money from either asset stripping or activities associated with RRL. As long as people still believe in this company, they willl keep buying and push it to crazy valuations. Most people aren't aware of the shenanigans that can go on behind a company. Most people just buy and hold so they get done like a kipper when those shenanigans happen. They tend to happen to cash strapped companies..... Lind is just another one in a long line.
People here were singing the praises of PL blindly not too long ago. Now they wouldn't spit on his grave..... point proven.
Morning mate. Anyone come up with a good plan to bring in a new CEO yet?!! I have had bad feelings about this fella since I clapped eyes on him and heard him (try) to chat. I was right a bout PL and I will be right about this chappy. I think we are going to be sold down the river in due time (again). I'm sure RSR is a decent chap, but I reckon he does a lot of Chin Scratching and Doodling of Oil gushing from the ground on the back page of his Diary.
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