Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
And as usual you resort to personal insults, getting back to RRDSL tell me which client we have lost as their Website still lists TRIN, CERP and PETROTRIN as clients http://www.rangedrilling.com/clientsprojects/
Nice to see that the support line 0f 0.175 is now well established and that we have reached the 0.2 resistance level and even tested the 0.224 resistance level from early January. The market is still absorbing yesterday's RNS and like Bountyman says there are some good things in them. The BOD is trading cautiously and although it would be good to see a more aggressive drilling programme for now building a solid foundation of production without depleting our cash position too much is a wise strategy IMHO. Good too that RRDSL are working with other oil producers too, it will help establish that side of our business. [IMG]http://i66.tinypic.com/f3td9w.jpg[/IMG]
Just thought I would remind us what we are here to discuss and following yesterday's two very focused RNS there is plenty to talk about Range. If we can continue to build production in this quarter as we did in the last it will take us very close to the 1000 BOPD mark and given that the price of oil is now in the 60's with a forecast of $70 a barrel this year that is significant in my book. We haven't even begun to look at the impact of Indonesia yet either.
I think the announcements yesterday were really a mixed bag of good and bad news items. If we take the appointment of the COO, I think on paper he seems like a credible candidate for the job, however, as previous discussed, he has been a NED from sometime so I would have hoped had he been so strong that he would have been able to influence decisions in the recent past but perhaps his hands have been somewhat tied. I think he deserves a clean slate and a chance to prove himself one way or the other. Moving on to the op's update. I will be emailing the company to try and get some clarification on these but there are some issues that I have both positive and negative. The increase in BOPD from what appears to be workovers (given no new drills or increase in WF output) seems to certainly positive and it is good that it is at a point where the POO has been at recent highs so revenues from this increased amount should be better than the previous quarter. Linked to this seems to be the lion share of the work plan for T&T seems to be reinvigorating existing wells. I expect this has been done on an economical basis as there must be countless wells that have stopped producing or are producing small amounts so a short sharp uplift from them for minimal expense seems a sensible option especially if they are looking to line up wells for future WF projects. That said, I am very p*ssed at the lack of drilling. We have just taken onboard a drilling company for pete's sake and we are drilling 2 (maybe 4 depending on how you read this) wells in T&T this year. I have heard mooted that we may be holding some drilling capability back to look to outsource this and make revenue from this. However, we should have a FULL programme for Range imo and IF/WHEN we get contracts an RNS release covers the contracts and explains the uplift in revenue from RRDSL and need to scale back our operations. I hope that this is a case of it truly being a minimum expectation and simply not wanting to promise one thing then not delivering. The company is focusing on increase water injection by 300 barrels, my understanding is that this is likely to uplift production by 60 barrels (read that it was around 5:1 water to oil) which for the big and expensive project is pretty carp. Given that only 300 BWPD is heading towards SE WF, it does raise questions where the other 400 BWPD will be going. The RNS as ever raises lots of questions and some answers, but not enough for me. KRO PS the fact that RRSDL are working for another operator in T&T is good news, let's hope this is increased by the next RNS. PPS Maybe the lack of expense is in preparation for the Indonesian works required to get our 23% up to 42%.
"Funny how A L L the trolls disappear" yeah where is MickDee, has he been banned again "the significant rise in bopd " 23% increase on "not much" is still "not much". "on the same day great news is delivered by Range." What was the great news "Great start to 2018 " It's the end of February
We are two different people and certainly Not negative on this company I hold a lot of shares, and I Don't post anything on any boards that I'm not invested in
Thanks forward your earlier reply, buy the way everyone please don't get me with the imposter 😀
Yes of course you did, what was I thinking
Reinvent myself, I don't get it? I'm new on here and have been allansugareatyourheartout on the rrl BB (iii) for more years I can remember. No reinvention, I continue to be sarcastic and pretty negative on the prospects of this company. I came from iii as all the maniacs got banned.
I bought a load of these at 5p+, currently 0.22 so not long to go before I see a profit! Or do I need 19x0.25 or is it double of 0.22=0.44=100%, then 0.88=200%, then 1.76=300%.... I think I need about 500% to get a nice profit? Onwards and upwards come on RRL
Lol Allan sugar ! I’m deeply underwater here! But you made me laugh! If I didn’t laugh I’d cry !
It is always a good sign when the usual suspects have to reinvent themselves
Same dubious character sugar, filtered. Good afternoon Rangers
Up to 777 bopd average, so we have moved from being a massive loss making entity to a every so slightly less massive loss making entity with shares down 99% (rounded) from its high, but now sitting at 99% (rounded) from its high, with a 67% spread, and less than 10K of buys off of the good news. This will help with the 80 milly of debt in a couple of years, looking good on that front at last, that was a worry for a while. Good news on the staff front, not drilling so much as planned next year, so we wont wear out the staff or machinery so save on the old wear and tear costs and overtime, every little helps I always say, the rigs and equipment lasts longer if we don't use them much, forward thinking. And did we take on another exec, or whatever his title is, that's pretty good we get to put through higher management salaries which are tax deductible, once we manage to offset the first 200 milly of brought forward losses we'll be thankful for this offset. All looking good at last, I was getting worried for a minute there. Wouldn't want to be out at the weekend.
Steady on old girl .....
Today’s RNS’s will help to rebuild confidence in the course the BOD are taking. Slowly but surely building on the value of our assets, helped along by an equally slowly increasing price of oil. Sometimes it is easy to forget that we are not an explorer but a producer with solid assets to build on in Trinidad and Now of course Indonesia. It has been a tough ride for LTHs here but it does look more promising than it has done for a long time. Some decent posters returning now too thankfully.
Come on Range time to go northwards :)
Hasn't rebounded yet so I had to have a little top up while it's still cheap. Go's to show don't listen to bb's do your research and buy cheap. Heads up to celtic bounty & mickdee for keeping the faith ha
Best brace of RNS's we've had for ages. I'm Surprised the percentage isn't close to double what it says up top?. Still time, though?
Yes rainbow you read my mind
There is quite a few shorters getting burned by todays RNS. They have to buy your shares cheap and close their positions,\ else they will win the shorters battle. The MM's are working for the shorters right now - not the longs. Go figure. Don't sell.
Yes they want our shares! Market makers playing games ! Hold on to those magic beans
Interesting to see that by raising the Ask but not the Bid all those trades above 0.19 are portrayed as sells
I expect (iPhone)
Ask now 0.25 Ivecpe t the bid will rise too shortly