24 December 2014 Dear Range Investor Group We are writing this open letter to introduce ourselves as the new Directors and Management of the Company, and with a view to establishing a positive and constructive relationship between ourselves and Range’s private shareholder base. We sincerely hope we can develop a mutually beneficial relationship with all investors, and we ask for your support to ensure that we could all benefit from what will be a rebirth of Range. It has been a very difficult time for the Company and its Shareholders recently, and we want to assure you that the Board and management team will spare no effort to bring the Company back on track. Our main goal is to make solid profits for the benefits of all shareholders. We aim to achieve this by focusing on the core business in Trinidad. With our strategic partner LandOcean, we have the capabilities to conduct the incremental production plans, improve the working efficiency and increase production in a short term to achieve shareholders’ expectations. Our first priority is to complete a smooth transition process and to relieve the Company and the Shareholders of the current uncertainties. We also believe that going forward more regular, standardised and transparent investor communications will be an important part of share price appreciation. To that end, we have reviewed and taken on board your previous requests to the Company with regards to improving communications and have a number of proposals: • Meeting with Range and RIG Representatives. We would like to propose an informal introductory meeting between Range Directors and management team and nominated RIG representatives, to be held mid-January in London. • Investor Q&A sessions. We propose that going forward Q&A sessions are to take place between Range and RIG on a monthly basis, commencing mid-January. For ease, we would appreciate if on each occasion you could kindly collate your members’ questions and send to our Investor Relations. • Regular Operational Updates. We fully appreciate that shareholders require more frequent operational updates in order to be able to assess their investment. Commencing in January, we are looking to adopt more regular Trinidad updates on developments, exploration and most importantly waterflood programmes (on a monthly basis). Page 2 of 2 • Ongoing communications. To ensure you have a direct link to the Company, all shareholder communications will be done in-house in the near term (and not through external advisors). Therefore, please email any future questions and correspondence to our Investor Relations representative, Eva Bezruchko (firstname.lastname@example.org) Again, we very much value your ongoing support and look forward to taking Range into its next phase of development. We look forward to your reply and any suggestions you may have in establishing a constructive relationship. As we approach the holiday period, we als
Lighten up bounty, you are starting to sound paranoid. I haven't seen the letter as you will notice from my post. My point was that constructive two way communication would be a good thing for a change.
Its heartening to see new BoDs believe in corporate governance, and professional ethics. We were craving for simple communication protocols which some some reason past regimes were reluctant to comply with. These gentlemen offered us those on their own without much fuss. All looking good for a good and honest shot at our future, we may fail or succeed but at least we will have a fair game. Once again thank you to RIG representatives to taking us the cause on our behalf. I wonder if CH/Lewis got a copy of letter yet as supposedly they are not part of RIG so technically shouldn't be on mail distribution list. However, strangely they seem to know contents of letters is it the case of multiple ID / fake identity in CH's language.
I totally agree that the letters seem to provide the beginnings of mutual respect between the Company and Investors. Many grateful thx to those who are working so hard within RIG to bring about a positive relationship and outlook for RRL. Good luck to one and all. ATB BB
A nice letter from the management and an equally nice reply from RIG but it does have a bit of steel in it which shows RIG is not going to be a pushover either. Very well done RIG. At least I can rely on you at the end of the day.
I agree with you Lewis, communication between RIG and the new BOD should be positive and constructive on both sides. If RIG are to be of value (and they can be) they must show that they are willing to be part of the future and not simply focused on the past. We already have enough people looking backwards and complaining about what has gone.
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