Nothing but encouraging news,. What more can one say,. I have read nearly every single post on here for the last two weeks,, good and bad .,positive and negative,, all opinions, and I will keep my powder dry until the very first day we are trading back on the stock market ,, come on the Range,!!!!!
It’s quite normal for shallow wells to be deleted quickly as the associated gas driving the initial flow drops off and in some cases has found it’s way to adjacent wells. That’s why water flood is normally used to maintain flow.
Ideally you would move straight into water-flood but funds have prevented this and RRL have to catch up.
You also need to bear in mind that as RRL have said many exiting producers will be converted into injectors, so a lot of the costs of developing water flood have already been incurred so although revenue from oil at current prices is reduced, recovery costs will be seen to be lower and have less impact on overall margins.
LGO have started planning their water flood phase to follow through quickly.
BTW before CH accuses me of negativity and my hidden agenda I must say letter is full of positive energy, and doesn't sound like a Company on verge of delisting. However aspiration on move to main market from AIM sounds bit over compensation for fear of delisting. Personally I am happy without core money as long as we don't have same level of dilution, but then current board themselves told us we have no future without that money. One never knows we might get lucky with one of our drills, and find some gushers like LGO found. However with LO coming into picture I am finding it hard to compare this similar sort of companies.
I'm down like most, but with a very low average and have no concerns about a recovery. Most on here know that people post within an opinion and that there own research is what pays. It's been difficult in the past because of past managements actions, but I think you will find that over on WS I argued strongly against much of the statements that where posted and invested accordingly.
IS THERE A REASON FOR WATER FLOODING THE AREA ??? Guess THATS why they are not taking anything to chance with the water flood plans being so meticulous!!! cause it needs to be RIGHT !!! What better way to sort depletion ??? BOOM
OMADAWN I am happy with my average or below average intelligence...its better than your over intelligence which has costed you and others dearly...once again you are nothing more than storyteller living in fantasy world...all your posts must include some health warning.
are we back to landau's era where we will get spagetti RNS / Letters...how clever current board wants to put blame straight to past management for all suffering but very keen to take credit for LO deal for which hardly they did any work....Chairman is boasting for one or two things which are simply playing with figures and diffciult to figure out even of layman like me...I will point only toward one or two.....(1) didn't RSR already told us T&T operation is cash positive on its own..so after greeting rid of all other assets including drilling company of course we will be cash as a group ..so as such no achievement for DC & Company (2) Chairman says we could have seen increase in production due to new wells had it not been decline in existing wells production.....Isn't Carvy shouting for years high depletion rate is an issue with field...so can we drill new wells economically to outpace depletion rate...so far it seems NOT yet...this raises question of asset quality with oil under $100....
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