Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. 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.
A 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million)
But then again Surely, very few turnaround companies start by being in profit, I think. I have lost loads on this share because of PL and his gangster friends and never expect to get it all back and don't have rose tinted specs, even as an Optometrist, but I feel the last few RNSs show promise. Only time will tell but small, sensible improvements were the only way this company was going to recover so I am mildly heartened. I appreciate your not.
Revenue of 5,354,450, and Cost of Sales (7,984,304) Goodness me, loss making at on operational level.
Just tried a trial sale / buy via my HL account on 1,000,000 to sell = 0.173p ; to buy = 0.245p . By my maths a 41% spread. Criminal and doesn't encourage any needed volume On HL bid valuation continually shown at 0.15p for weeks - offer now 0.25p . Why don't they price an accurate bid on valuations ? Long-term victim of RR
Rather than selectively extracting one element here is an overview of the current Financial position: Financial: Financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million); Revenues increased by 39% to US$5.4 million (prior year: US$3.9 million), principally due to an increase in production; Operating expenses decreased by 14% to US$34.5 per barrel (prior year: US$40 per barrel); General, administration & other expenses decreased by 40% to US$3.2 million (prior year: US$5.4 million); No impairment charge has been recognised for the first time since 2013; Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million). The reduction in cash is due to a number of factors including the investment into the new acquisitions and the funding of a drilling programme in Trinidad; and Range continues to benefit from the generous credit terms offered by LandOcean Energy Services Co., Ltd across various funding arrangements. The average maturity profile is in excess of two years and none of the credit arrangements have any security, and nor do they have any financial covenants or restrictive controls.
"Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million)."
On a small trade though to be fair, not as small as the opening sell for �3.74 though I grant you
42% up
RRDSL currently provides oilfield services to Range and other operators in Trinidad. During 2018, Range�s objective will be to complete the integration of the oilfield business and expand its third-party client base. Discussions and negotiations are ongoing with numerous operators and the Company expects to secure third-party contracts during the current year. Worth noting this no longer states that RRDSL is working with one other operator!!
we continue to make progress, financials are improving keep it going range even tempted to by a few
Progress is beening made, should be more news soon rig that a super major could be signing Etc not long To go till next quarter update
Celtic, for me its neutral. Thats because its no new news so everything contained within is factored in to the price and shareholders knowledge. Its not bad but there is nothing to excite me compared to when I went to bed last night. Perhaps my expectations were a little high but am left feeling a little flat. KRO PS I wouldnt engage with the multi IDs just report them and let admin do their thing.
But it is clear we are making progress on both operational and financial levels, a long way to go yet but a business heading in the right direction, wouldn't you agree and free of spin for a change?
Nothing we didnt already know. Was hopeful that they could have used this to advise of progress made in 2.5 months since. Looks like the waiting game continues. KRO
Yan Liu, Range�s Chief Executive Officer, commented: �We are extremely encouraged by the progress in both operational and financial performance demonstrated in the interim results. We continue to invest in growing the asset base and completed two important acquisitions during the period. Throughout the remainder of this year we look forward to seeing further improvements in key metrics such as operating costs as a result of RRDSL acquisition, and revenue growth from our upstream assets. We are confident that as we focus on growing the business, we will continue to deliver substantive value and results to our shareholders.� Highlights for the period include:Operational Trinidad: The average production for the period of 605 bopd was 22% higher than comparable prior year; Increase in production is mainly attributed to the ongoing waterflood programme, selective�development�drilling and workovers; The Company continued with implementation of the Beach Marcelle waterflood project, which accounts for the vast majority of Range's reserves in Trinidad; Production from waterflood continued to increase with approximately 30% attributed to this programme; Two development wells successfully drilled and brought into production; Over 130 workovers completed; and Independent Competent Persons Report (�CPR�) published confirming net 2P reserves of 16 MMstb and net 2C contingent resources of 8 MMstb. Financial: Financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million); Revenues increased by 39% to US$5.4 million (prior year: US$3.9 million), principally due to an increase in production; Operating expenses decreased by 14% to US$34.5 per barrel (prior year: US$40 per barrel); General, administration & other expenses decreased by 40% to US$3.2 million (prior year: US$5.4 million); No impairment charge has been recognised for the first time since 2013; Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million). The reduction in cash is due to a number of factors including the investment into the new acquisitions and the funding of a drilling programme in Trinidad; and Range continues to benefit from the generous credit terms offered by LandOcean Energy Services Co., Ltd across various funding arrangements. The average maturity profile is in excess of two years and none of the credit arrangements have any security, and nor do they have any financial covenants or restrictive controls.
Operational Trinidad: � The average production for the period of 605 bopd was 22% higher than comparable prior year; � Increase in production is mainly attributed to the ongoing waterflood programme, selective development drilling and workovers; � The Company continued with implementation of the Beach Marcelle waterflood project, which accounts for the vast majority of Range's reserves in Trinidad; � Production from waterflood continued to increase with approximately 30% attributed to this programme; � Two development wells successfully drilled and brought into production; � Over 130 workovers completed; and � Independent Competent Persons Report (�CPR�) published confirming net 2P reserves of 16 MMstb and net 2C contingent resources of 8 MMstb. Financial: � Financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million); � Revenues increased by 39% to US$5.4 million (prior year: US$3.9 million), principally due to an increase in production; � Operating expenses decreased by 14% to US$34.5 per barrel (prior year: US$40 per barrel); � General, administration & other expenses decreased by 40% to US$3.2 million (prior year: US$5.4 million); � No impairment charge has been recognised for the first time since 2013; � Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million). The reduction in cash is due to a number of factors including the investment into the new acquisitions and the funding of a drilling programme in Trinidad; and � Range continues to benefit from the generous credit terms offered by LandOcean Energy Services Co., Ltd across various funding arrangements. The average maturity profile is in excess of two years and none of the credit arrangements have any security, and nor do they have any financial covenants or restrictive controls.
Double now I can relate to this rerate ha
This is about to relate good luck shorts your going to need aimo
The quarterlies are important BUT we need to consider them against the cash outflows detailed in the previous quarter. The outflows were expected to be c. $4.8m, which it is possible given the uplift in BOPD and POO could be around break even (or not that far off). That said, it is unclear whether these expenses were based on the admin doc levels of work OR an early expectation of the plan for the year. In regards to the uplift in admin expenses, I previously pushed Eva on this and she confirmed this was a lot to do with relisting so will be interesting to see the current position, the expectation for the next quarter and also if any announcement comes along with the quarterlies. I am hopeful of positive news but will have to see this time tomorrow - I will likely not get a chance to fully review until the weekend but fingers crossed. KRO
He's right about as often as you.
Tweet from Range #RRL Malcy says "Everything is beginning to look up nicely for Range"
Rainbow I like your posts but that comment was spiteful as celticheart says . ...... celticheart good point we all should have a balanced view on this whether invested or not
3.5 million buy that is surely upsetting for some trend building here won’t be long glad I topped up.gla
A buy for 13.29 quid on the bell , just got to laugh at the games 13-Mar-18 16:29:57 0.1784 7,448 Buy* 13.29
Assumptions make an ass out of you Just deal with the facts and leave out the spin