Have not seen any questions for next Q&A, but perhaps DC might put a few figures on deep drilling. The last presentation back in January explains why they believe their current plan will be very effective:
"Most fields in Trinidad have been traditionally produced by “primary recovery”, which uses the solution gas dissolved in the oil to provide the driving force to produce the oil to surface•
This is a cost effective way to produce initial oil, but recovers only about 15% of the oil-in-place –85% of the oil remains in the reservoir.
Waterflooding can recover at least a further 15% of the oil-in-place.
As we seem to be attracting so many strays from both LGO and MXO onto this board I thought it would be interesting to post 6 months performance graphs comparing both comanies with RRL over that period, makes for an interesting picture, I know where I am happy my money is invested in, Range Resources.
Where are you hiding? Got an answer for your Thursday statement . Do you have an RNS showing "As we all know BOPD is low and falling dramatically." Can you tell us all about the dramatic fall in production as many of us have been waiting for current bopd rates?
Look back a year and explain to me why we exceeded £100m MCap, yuff. What was our bopd then? AIM is a great mystery, isn't it.
As long as you say "I have a hunch that even 2000bopd would not cause MCap to exceed £100m" and imply with your "Lol" that you think your post is going to be amusing, I have no quibble at all with you. But we do have cash, we do have new rigs and we do have a US$50m credit line for our long term plan. And bond has been paid, and any Lind outstanding monies have been budgeted for - so anything less than expected from Lind settlement could be a useful cash injection.
See what happens, the trolls jump on these items and they feed problems on this board, something I want no part of. They want disruption and an excuse to get posters removed and unintentionally you are giving them what they are after.
In a nutshell, he made the mistake of selling Range at historic lows and then compounded that error by moving the money into a share that was being sold off.
I hope it works out in the end but understandably the blunder has caused such bitterness and resentment he has resorted to posting negatively here, willing the Range sp to go down (to validate his sell decision).
Unfortunately, huffing and puffing on the Range Resources discussion board is not going to help the share price of other failing companies bashers are invested in. When will they realise this simple fact!
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