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Good to see some well reasoned posting this morning which is actually about Range Resources not just personal abuse
Interesting article about business in Indonesia. I do hope Range have this covered https://www.business-anti-corruption.com/country-profiles/indonesia/ This was the important bit Natural Resources Corruption in the natural resources sector is rampant in Indonesia. The lack of law enforcement in Indonesia promotes an enabling environment both for irregular activities and for opaque financial reporting by petroleum and mining companies, fostering corruption in the extractive industries; the 2009 Mining Law eliminated a requirement for mining contracts to be publicly available (NRGI 2017). A variety of governments regulations has made doing business in the natural resources sector difficult; as a result, Indonesia ranks near the bottom (91st out of 109) of the world�s mining countries in the Fraser Institute�s Mining Policy Perception Index (ICS 2016). An absence of any central authority to issue licenses concerning natural resource development has led to a vast problem with overlapping licenses; at times up to four licenses for the same concession have been granted to palm oil, pulpwood, logging, and coal mining companies (The Guardian, Apr. 2016). Officials, particularly close to election time, have been known to exchange land rights for financial contributions to their campaigns (The Guardian, Apr. 2016). Indonesia�s anti-corruption enforcement agency, the KPK, has been investigating corruption in over 4,000 mines nationwide and has shut down 721 mines so far after instituting a requirement for a so-called �clean-and-clear� certificate (Greenpeace, Feb. 2016). As of March 2017, 3,203 companies are still operating without such a certificate; although lack of communication between miners and local authorities has also been blamed for this process (Indonesia Investments, Mar. 2017). Part of the problem is the decentralisation of government tasks; it led to officials issuing more than 10,000 licenses, possibly motivated by rent-seeking behaviour, some of which overlapped (Indonesia Investments, Mar. 2017).
Somehow I think they'll let you stay CH...he he
Commencement of operations in Indonesia
Expect all shares to take a hit due to Italian crisis - it�s all over the news over here in Netherlands. As European markets open 1st that will be big indicator for UK stocks
How can a country 10-12 hours in front of another following it�s a lead? That�s like saying Australia celebrates Christmas Day on Boxing Day as they follow us. It�s as daft as the share price fiasco from Friday which I hope a lot have learnt lessons before posting false share prices which the FCA and LSE rules state is not on.
Sad state of affairs that one poster is ruining it for other posters. I do hope admin do the right thing tomorrow
I don’t need your advice ta, talk to Manos aka LostLoadsamoney if you want an argument. Be careful though he is a failed boxer.
Not giving you advice but the best thing to do is admit you were wrong and rrl closed down 18% on Friday. Those are the facts. ........also crying to admin all the time will not gain respect and they may be fed up with you reporting posts. Also be a man and battle lostloadsmoney and answer his concerns about you .gain more respect
Bloomin eck Have you tried laxatives ?
ASX can hardly follow our lead if we are shut. Oil taking a hammering today
ASX follows our lead not the other way round. Admin will be back tomorrow so Manos aka LostLoadsamoney will be gone again. Interesting that I am accused of having issues but Manos, who loves to get banned so makes sure we know it is him is supposed to be normal. As for Delft aka Yuff or any other number of ids, not so smart. An ISP check will prove that. Over to admin.
Oh Dear CH. Shooting from the hip, no score. Lol Gotta love the man... On the other hand. Nice little bit of steady progress. Lovely jubbly...
Not in Australia today hence why RNS was released. I wish some posters would do their research before posting Anybody know what is Yuff? Tried translation websites but nothing that makes any sense unless it�s a slang or insulting
Even Range official website says share price was 18% down. http://www.rangeresources.co.uk/investors/share-price/
It’s a bank holiday Yuff
Had little effect on ASX today so not expecting massive rise tomorrow on AIM
"Why $50 oil is now more likely than $100 " Nick Butler , Ft today
Yan Liu, Range's Chief Executive Officer, commented: "We are hugely excited to be announcing the commencement of operations in Indonesia, on track with the previously announced schedule. The Perlak field is one of the oldest producing oilfields in the world, geologically similar to our producing assets in Trinidad. Our objective in Indonesia this year is to reinitiate production from this mature field, commence cashflows and firm up the future development plan. We believe this asset has the potential to deliver significant benefits to our shareholders and we look forward to sharing details of our progress in future announcements.�
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6wu%2FzheZsuVqke92GA%3D%3D Looking good boys and girls - promised kept. Better days ahead for those who have kept the faith! GLA
The ramping on here about Waterflood too from Windy, MrsBrown, Agnetha, CH among others. How cheap it is and how effective it is they said. Thank goodness this board has some great balanced posters that could offer more likely scenarios.
Seems I am not only one who is concerned re: Waterflood http://www.worldstocks.co.uk/forum/viewtopic.php?nomobile=1&f=3&t=56419 Too porous would present real issues. How much money are we prepared to throw at this before we chuck in the towel as non-viable option?
I know we have last time we checked $85m debt with payments due in 2019 and 2020 but does anybody know when the $21m loans for RRDSL need paying? Somebody on worldstocks seems to think this year which would be concern as we don�t have that money available. Kind of hoping it will be next year or 2020 to allow us more time but 1000 BOPD won�t pay this back either Current debts $21m loans RRDSL, RRDSL purchase $5.5m due to be paid back in 2020, Trinidad Investment $40m due to be paid back by 2020, Convertible loan 20m due to be paid back in 2019
I believe RRDSL have not gained any new contracts otherwise we would of been told via RNS like we were on Shell deal which has also gone very quiet. Massive drain on resources equals one thing - just imagine if oil price was $40 were would Range be with their debt repayment plan?
It is clear that LostLoadsamoney is a burner identity deliberately posting blatant abuse in an attempt to have the thread taken down. Thankfully admin will be back on Tuesday and clear out the bank holiday weekend dross. 1. Share price will not go above 0.35p - no basis for that assumption 2. No significant works in Indonesia - no basis for that assumption 3. 1000 BOPD not hit - should of been 2000+ by now - We will easily surpass 1000 BOPD in 2018 based on current progress. What was the point on chasing 2000 BOPD @ around $38 a barrel? 4. No major contracts for RRDSL - cash drain - It will not be lost on other producers how well RRDSL have performed to date (much of the current increase is down to them) and that will result in significant contracts IMHO 5. Fund raising or restructuring of debt payments - a reasonable assumption but would favour debt rsetructuring 6. Issues with Waterflood still persist - when will they sort this out without natural resources - What issues? Will save these points to discuss at a future date, by the way didn't you also state that Range would never re-list?