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All good news, no surprises. Let's put last week's blip behind us and get back to building a business.
4m cash held, 2.6m net cash outflow in last quarter, targets very short at an average in the 600's. Cash outflows expected at 4.8m, unsure of inflows. Wage costs c.1.5m next quarter. 2018 accounts going to look poor as expected with turnover less than 11m Another quarter like that and they will need to consider another placing. 4m starting position, Im assuming best case scenario the recent 1m placing has to be added to that figure, so 5m starting. Burned 2.6m last quarter, finance costs also in the future.
Highlights include: 'During the second part of the quarter Range reached its production objective of 800 bopd'. Infrastructure upgrades will help achieve 1000 bopd by year end. Cash equivalents of $8.2M including recent raise. Costs lowered by 29% Rig mobilise to site in Indonesia Initial oil flow although to early in assessment to estabilish constant flow rates Sounds like progress to me..!
Thanks big lad that post tells us quite a lot! Cheers
Quarterlies
Just waiting on the results reney
Rns 1) They want significant share holders to report their stakes Rns 2) for the Aussies - “The purpose of the Prospectus is to remove any trading restrictions in relation to the securities that were issued pursuant to the subscription as announced on 26 July 2018”
Asx was up 50% to 0.003 AUD = 0.00169110GBP Was only on 3m volume though.
Need more volume though
Blooming decimals, 12p ...if only!
Nice £12k buy at a premium to the Ask at 12.35p.
To get in here before the inevitable rise back up.
Bounty man ...is it not time to move on. ...they may or may not be one final spike before time to put that other foot in the grave. ... good luck mate.
What do you think the results will be Irene? All I can say is, from the updates and the information available, that it's definitely going in the right direction. With the share volume it's never going to be £1 a share but I'm happy that this could sit in the 5-10p range one day.
Activities up 16% from Q2, the SP per barrel has risen significantly. The contract awarded with Shell.....The lower cost price post acquisition. Indonesia....well that's the end of Q4/FY19 but it's a benefit. I'm liking what I see, I think you'll be pleasantly surprised. Once profitable they'll do a buyback or some sort of consolidation....they'll need to take the share volume down at some point.imo
Me, myself and Irene course not why would I bother to do that when from my two line post you told me all I need to know!
*** factory = actually *** bloody autocorrect.
Essentially it's good because what you'll see from now on is a set of realistic results from operations. Revenue, less cost of sales, less admin = profit or loss. No large asset revaluation, I can only imagine the owners are a bit annoyed that what they paid for isn't a factory what they received and the goodwill adjustment didn't cover the impairment. At least they've done the hard work and it's light at the end of the tunnel time.
Because they wrote off a lot assets in those years. It's an accounting adjustment to get some of the assets that are not of real value off their books.
To be fair it'll be close to break even if it doesn't make an operating profit. Promising to say the least, I've invested here at 0.12 as a quick win but the more I research the more I like.....especially the finances!
I hope it does, but has this company ever come close to a profit
I think the final results will show this in profit due to the increased oil price and only going to get better
"With an active ongoing work programme, we are focused on delivering on our key objectives geared towards production growth to 1,000 bopd target and increasing cash flows. We look forward to demonstrating progress to our new and existing shareholders." I think it must have been three years they said that the BOPD was heading toward the stated figure?
"Demonstrating Progress". Really...just like the last several years. Appreciable progress is the fact they are still trading but not recognised by the Market's as not progressing enough to excite them into raising the SP. It's not even tradable at these levels. In 3-5 years time, this SP may look positively great. I think that's really optimistic?! lol
Well done you come round my gaff an I will give you a pat.
Wow massive bullet dodged here. Kept churning over whether to buy in at 0.2 would have halved my investment.