General debate18 May 2018 13:48
No, I had not been banned as I hadn't actually broken any rules that I am aware of.
Apologies over any typos... phone is being a pest today.
Anyhows to Range...
I have had a reveiw of where we are and where we have been. I see us as being in the strongest position we have been in with actual tangible progress being made. Production, save the storage issue, has been trending upwards and with WTI at $71 as I type, the hard work through the low POO times should be showing increased revenues and maybe even profits by the time the quarterlies roll around again in July.
I have some concerns with my holding as it stands.
First, how come we have not had a meaningful update on Trinidad other than the quarterlies since 21st Feb. Given that this is our bread and butter, how can we not have had a proper ops update other than the quarterlies. Is everything going to plan... is BOPD on the increase... is waterflood increasing etc etc. They need to create so hype if they want the SP to increase and given the renumeration report was shot down, I would fully be expecting the big investors want to see the return on their investment. If the SP is at all time lows by Nov, will the BOD be out on their ears?
Further to this, are we still planning to complete 2 drills this year, given we are nearly halfway through, this does not inspire confidence that we are going to increase the BOPD by drilling. I dont think RRDSL staff will be sitting around but you would think having a drilling company would allow you to drill for oil as opposed to simply working over old wells.
Second, what is happening with Indonesia. Is this going to be a case of all quiet until we earn our larger slice over there and then ramp up the work. Well, I would like to think so but given the lack of drilling in T&T I am not so sure.
I think the comms leave a lot to be desired over here. Maybe they are waiting for the right time but I kind of suspect they dont understand the importance of the comms.
I had a lot more to say but phone keyboard has annoyed me.
KRO