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Other non oil production enterprises breaking even, would 1000 bopd yeild the company an annual net profit at the current oil price? What's everyone's opinion? I notice from the fundimental page on iii, that the first 5 years had a c.200m combined net loss. Will 1000 bopd turn this company in it an annual net profit position? Again thoughts would be great and feel free to throw out some numbers for discussion purposes.
When we were at .37/.4p poo was around $45/50 which means our profit per barrel has doubled. We�re a leaner machine with cost reduction. We were on about 400bopd now 700+ with more to come Imo were be past 1000bopd by Christmas it�s going to be a hot summer burning hott.gla
CERP is Columbus do keep up
Can I suggest that the best definition of "balanced view" are the ones who most accurately predict the shareprice. Note to self: The definition of "balanced view" on this board always puzzles me. It seems to mean that you can lose 99% of your cash , averaging down all the way, but your views have been balanced ever since you started tipping it as a buy at 10p. Athena, I sense your frustration now. You are lashing out, where your knowledge is lacking. Best we end this particular thread.
ok, and have RRL got a good track record of upscaling like you said ? Did they manage to do it in Trinidad. Or perhaps give me an example of another AIM oiler who have upscaled a little brown field site full of old stripper wells like indonesia.
Cant find any negatives ? Apart from the fact that subscale operations are never profitable ?
Athena, So to summarise where we are with yourself , since you joined on the 20th . We started with "I have done my research", but in actual fact we have arrived at the statement "I just hope ".
"Totally impossible to make any predictions at this stage eventual bopd, profitability or potential loss" So let me state that IMHO, if you looked at other similar sized AIM outfits, then I have never seen a Field operation which is profitable at such low similar levels of production. It is subscale. Instead everything else that you have stated is just wishful thinking. Qualitative nonsense with no numbers designed to give the impression that this is a great investment but missing the critical numbers to actually show that it will be. If you really have no idea what the production numbers will be and when, have you thought about why you are investing here.
"You appear to have me mixed up with someone else " Yes I certainly have. I got confused because you stated "until Indonesia comes into profitable production " and then got very abrasive when I suggested it might not be profitable. I therefore assumed that there was some basis to your assertions. But it appears that it was just hope. And in fact that you have no idea if Indonesia will be a good investment for RRL. Do I have you still mixed up then ?
The market is quiet, unsurprisingly as we come to the month and quarter end, this year also coinciding with the Easter break. Crude though is holding levels that the bears can�t understand although seems quite natural to me at the moment given stock levels and geopolitical risk in the market. In the US ahead of the first real driving time of the year it is noticeable that retail gasoline and diesel prices are rising, at $2.64 per gallon gasoline is up 5c on the week and 33c on the year and diesel has tripped the $3 barrier, at $3.01,up 4c on the week and 48c on the year.
rainbow, "there is no evidence range will ever be profitable" Lets not jump the gun, I'm waiting for Athena's forecast production figures for Indonesia. I'm sure they will show how profitability can be achieved.
A mature and reasonable approach. I do hope the bet is taken up.
"RRDSL currently provides services to three operators in Trinidad (Shell, Trinity and Range). The Company continues to actively tender for work with numerous providers in both Trinidad and Latin America." http://www.rangedrilling.com/clientsprojects/
Rainbow, you really do drag the board down. You state as fact that you believe depletion will take the BOPD below 700 and I strongly believe this not to be the case. I propose a bet, if the BOPD is below 700 average in the quarterlies, I will stop posting (I only post on here not on iii or WS) if the average is above 700 you stop posting on here and don�t come back with another screenname. Whilst I am happy to have debate with you, it is clear that with anyone other than me you don�t have reasonable debate and it, imo, ruins the board. The offer is there for you, I suspect you won�t take it as you know deep down that the BOPD in the quarterlies will be well in excess of 700. KRO
I was making a little JOKE. And you may remember my identical username from years on III. How long someone is a member makes no difference to their permission to make a valid JOKE. And have my posts on here been against Range? No. Just to be clear, I was making a ( Valid ) JOKE. Are there not some skin thickening creams available?
Check out the newly updated client list: http://www.rangedrilling.com/clientsprojects/ 4 clients listed now including Shell Trinidad Central Block Limited (Shell) RRDSL�s services to Shell include heavy workover operations in the Central Block acreage. N.B. Notice the plural "operations" not a single drill but a one year contract initially. TRIN, CERP and Petrotrin all still listed as clients too. That as well as drilling for Range which will reduce our operating costs by around 30%
Sorry not going to be drawn into this (Member Since: Fri, 16th Mar 2018)
Ch, nobody has to draw you into an argument. You rush at them like a bull in a China shop. Lol
This is why I suggest not engaging with these two, that is their game plan to draw you into an argument that will get you banned. It is a tactic they have used before under different names here and on iii. Apart from anything else the postings are selective to say the least, highlighting any negative but ignoring any positives. The assertion that Range made a loss in the 6 months accounts $9.5m is not only US$1 million out but ignores the fact that financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million);
WTI $65.88 +$1.58, Brent $70.45 +$1.54, Diff -$4.57 Oil price Last week ended up being a very good week for oil price bulls with WTI gaining $3.54 or 5.71% and Brent up $4.24 or 6.4%. Quite why and how this good news is not being reflected in the oil sector share prices I am at a total loss to understand. Fair enough, companies with only E and no P don�t gain but there is a list of stocks in the bucket list with significant production that will be making out like the proverbial bandits especially after taking costs out by as much as 70% in the last three years. Perhaps they(investors) dont believe it can last but that�s not how it looks to me. After all, last week�s rise was down to three main things, further draw in inventories against expectations (and taking them below 5 year averages into the bargain), the Saudi Oil Minister pushing the agreement into 2019 and of course the geopolitical situation getting worse with Iran hawks in the White House and MbS� visit there adding to concerns about renewed sanctions on the Country. None of these things constitute anything but good news for oil companies and my interviews with Tony Durrant, CEO of Premier Oil and Nick Cooper CEO of Ophir Energy convinced me that on a day to day basis there is little to grumble about.
Athena, please stop trying to make me the subject of discussion. Lets stick to range and I'm sure you will be fine. So as has been pointed out the net production to RRL is 40 bbls-d for 2018. So regarding your assertion about "profitable in 5 years" please project the production then for the next year say 2019. Or for the next 5 years if you like and indicate at what level of production you think the indonesian operation will become profitable.
The 200 bbls-d comes from the RNS ! "The planned work programme is expected to add up to 200 bopd of production " And my comment was about the profitability of small scale operations like this. I can't see why that is not relevant. Please refrain from personal attacks.
"until Indonesia comes into profitable " I've never come across a field operation producing 200bbls-d that is profitable. 200 bbs-d is just a piddly amount of oil and lifting and fixed costs always are greater than revenue. But perhaps someone can give me an example to show I'm wrong.
Low volume still but buys going through @ full Ask (0.2) again this morning. Maybe people are started g to notice some positive sentiment creeping back in here.
Agnetha, You are very knowledgeable about the history of this board and yet only a member since 20th March. How come ? It's also very amusing to hear a "member since 20thMarch" talk about posters reincarnating themselves. Anyway regarding your forecast and the bet, well it's a lame excuse, so I'm happy to take the bet on myself.