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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Range Resources Share Chat (RRL)


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carvegyber
Posts: 5,586
Off Topic
Opinion:No Opinion
Price:0.43
bobo
12 Jan '17
Don't know why that got posted twice! Sorry.

While you are on the subject of numbers, one wonders why you are so wedded to this? RRL and TRIN which just came back to life, has around the same market cap. It is very profitable producing 2600bpd with $9m debt. This is producing 800bpd with $36m debt and making a loss. So the question is, who is overvalued and who is undervalued?

hmmmm
 
carvegyber
Posts: 5,586
Off Topic
Opinion:No Opinion
Price:0.43
RE: I know it's lazy of me
12 Jan '17
Bobo, I am glad you are finally starting to look at the numbers. Sorry to disappoint you but profit can only be measured one way! I don't know which school of accounts you went to but as far as a shareholder is concerned, there is only ONE way to measure this and for a shareholder, the measurement that matters should be EBITDA.

The quarterlies only show cashflow which is misleading because it doesn't factor in the fees incurred by LO. Using past trend and guessing what the LO fees will be factoring in more drills and waterflood cost, I have arrived at the figure of $30m a year or $7.5m a quarter. Now, how does that square up against your quarterly figures. You have to remember, the production cash outflow rises proportionately with bpd output. If that stays the same, that means there is no output increase but if there is output increase, there is sure to be production cost increase. Don't count on the forecast being correct.
carvegyber
Posts: 5,586
Off Topic
Opinion:No Opinion
Price:0.43
RE: I know it's lazy of me
12 Jan '17
Bobo, I am glad you are finally starting to look at the numbers. Sorry to disappoint you but profit can only be measured one way! I don't know which school of accounts you went to but as far as a shareholder is concerned, there is only ONE way to measure this and for a shareholder, the measurement that matters should be EBITDA.

The quarterlies only show cashflow which is misleading because it doesn't factor in the fees incurred by LO. Using past trend and guessing what the LO fees will be factoring in more drills and waterflood cost, I have arrived at the figure of $30m a year or $7.5m a quarter. Now, how does that square up against your quarterly figures. You have to remember, the production cash outflow rises proportionately with bpd output. If that stays the same, that means there is no output increase but if there is output increase, there is sure to be production cost increase. Don't count on the forecast being correct.
isas
Posts: 802
Off Topic
Opinion:No Opinion
Price:0.43
RE: Another lazy sod!
12 Jan '17
Sorry it was my fault, after 7 years I dug up the courage to sell 50% of my holding at considerable loss in order to increase stake in another holding where I feel there is more scope in the short term. I do feel in the next few months RRL will edge up.
Mickdee
Posts: 2,438
Off Topic
Opinion:No Opinion
Price:0.43
Another lazy sod!
12 Jan '17
We dropped quite a bit yesterday on a small amount of trades. My calculator doesn't have enough space for the zeros to work out what percentage of 7,500,000,000 is 12,000,000.
Any whizz kid, or geriatric like myself who, has a calculator a couple of centimetres wider than mine compute the answer? :-)
Celticheart
Posts: 12,872
Observation
Opinion:No Opinion
Price:0.39
Look at the upside
12 Jan '17
Let's not lose sight of the fact that we are making good solid progress now, waterflood already producing, our drilling program is back on track and test results are due on GY 681 anytime now
bobo
Posts: 8,258
Off Topic
Opinion:No Opinion
Price:0.39
RE: I know it's lazy of me
11 Jan '17
Regarding profit and production, at 800 bopd and current oil prices we could well be at break even or marginally profitable at an operating level
Last quarterly showed a cash outflow of 600k on revenue of 1.5m. Current revenue will be more than double that if 800 can be maintained. Forecast cash use was not to dissimilar Q1-Q2.

As I said though profit can be measured many ways, the real test will be generating free cash to fund exploration and development after PLC costs LO debt costs.
rob1969
Posts: 83
Off Topic
Opinion:No Opinion
Price:0.39
OH Dear
11 Jan '17
2 steps forward 3 steps back :(
Mickdee
Posts: 2,438
Off Topic
Opinion:No Opinion
Price:0.40
RE: I know it's lazy of me
11 Jan '17
The last figure from Range was 800+ at year end. It might have been 600 30th December and again on 2nd January but at year end it was 800+. Really need to wait for the next quarterlies.
Divihunter
Posts: 154
Off Topic
Opinion:No Opinion
Price:0.40
I know it's lazy of me
11 Jan '17
But I'm thinking of buying in here. How many barrels a day are Range producing?




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