The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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?
No hope required
Prices are under pressure as the Russian Energy Minister said that supply restriction from the OPEC and non-OPEC group could be eased now that global inventories have stabilized. The Saudi�s expressed the same view, following complaints by major consumers such as India. Gasoline demand in the United States is solid, and should continue to climb as the driving season begins this weekend. Looks like the support level is now around $67 for the moment. Still a decent recovery from last year and we are about to enter the US driving season.
Have a word with the LSE then http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/AU000000RRS3GBGBXASQ1.html?lang=en
No not correct at all we closed flat, the data feed on this site is clearly out of date from this morning: http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/AU000000RRS3GBGBXASQ1.html?lang=en
Have to say some lovely characters on here these days, they will be gone soon enough though
Getting played again while we wait flat finish despite the games
Remember also that a year ago the price of oil was sub $40 a barrel so our current 820 BOPD is worth considerably more than it would have done then, in addition to which RRDSL is saving us approximately 30% on drilling costs and we have significantly reduced our overheads in that period. We also have a revenue generator in RRDSL which has not even got into first gear yet.
We might not have closed blue but we did close flat according to the London stock exchange Price (GBX) 0.28 Var % (+/-) +0.00% ( 0.00)
For once we are in agreement Bounty
The real picture is that a handful of traders are taking some profits, we have had just 10 trades so far today (4 million in all) some of which are almost certainly BUYS. The true picture is we retraced 10% and I am still going to call this as a blue finish despite the snide comments (reported).
#RRL Analysts at Cantor Fitzgerald say: "We are encouraged by the outlook in the near term in Trinidad, and look forward to activity commencing in Indonesia at Perlak..."
Sorry bounty but no, I have stated my reasons why I will not be drawn into arguments.
The usual culprits will try and derail the recovery with the usual spin and lowball trades but this is going to gain momentum. We will no doubt get some traders profit taking but LTHs will see this as just the beginning. As I said yesterday, much of this production increase is down to the efficiencies of RRDSL and that will not be lost on our neighbours, including Shell and Petrotrin. I predict another blue day on the horizon.
I was thinking the same myself but the answer is pretty obvious
Surely not Petebo 😎
OK maybe an overstatement that my critics will jump on as usual but it really feels like a corner turned.
It seems my belief in the current management wasn’t as far off the mark as I have been constantly told. Good luck to all the genuine long suffering holders in Range, time we had a moral boost, maybe now we will get some respite from the bashers.
Range Resources Range has announced that it has exceeded its production target of 800 b/d in Trinidad ahead of schedule and it also now exceeds guidance. The 820 b/d produced in the last week is a 43% increase in the last 12 months and is an even better performance than I had expected when I visited the country earlier in the year. The optimisation programme has handled 34 wells and there are 24 more currently planned. In addition the company has upgraded the facilities at Beach Marcelle and can now handle three sales of oil per week and with extra storage capacity being installed will be able to carry 2,100 barrels onsite. The company is ‘currently reviewing’ an accelerated and increased development drilling work programme which should further add to the progress Range is currently making in country.
The fact that the increase in production is down to the optimisation of our Wells has to reflect well on RRDSL too in my opinion. Could trigger some more contracts.