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To avoid confusion Celticheart posted this “The problem is quite clearly the access to a reliable and consistent amount of water which is being addressed as stated in the last quarterly but talk of waterflood being suspended or cancelled (not by you) is just false and designed to cause concern. I too would like us to have achieved a better result from water flood but it is an accumulative process which will continue to grow secondary recovery, just not as quickly as was originally anticipated.” 1. How does he know it’s being addressed? 2. How does he know it’s an accumulative process which will continue to grow secondary recovery? In my opinion these are not factual as nobody from Range has released this information unless as I stated we have a new company spokesperson To be called a bully is ironic when said poster has called me 6 different names and you have done the same Stick to Range which I am doing Waterflood questions need answering by Range as this is fundamental to Range targets being met
Celticheart - your statements on waterflood are unproven and you post like a company spokesperson. As the company is unprepared to update the market re: waterflood project we can only go on what we know which is fact which is 4 months down the line they haven’t sorted the pump issue. It doesn’t take 4 months to sort out a pump and this is price sensitive Business meeting must be going well if your posting history is anything to go by today
Pedrob999 - I emailed last week and didn’t get a bounce back. I wouldn’t of posted Eva’s response as it’s against LSE rules which Celticheart knows and blantantly ignores. I do know some on Worldstocks who get a response and post there because Worldstocks allow this. Perhaps if posters want to post email comms from Range staff that’s the place to post as it should get removed from LSE forums
Sure will :( Looks like it’s likely to drop further as well if reports are true
It doesn’t take 4 months to sort out a pump. Range need to update the market re: Waterflood project Maybe is a question for Range in next Q&A
This is from a poster called Rexco and I share his concerns particularly at the money Range are spending on Waterflood �As with others my main concern now is the water flood and whether the company has contingency plans in place to either rectify any problems or advance the drilling programme to increase production. It would seem that the favourable terms the company has received from LandOcean is compensation for the appalling failure of LandOcean to successfully implement the enhanced recovery expected. Hopefully the new strategy will make up for the lost production from the water flood. When are we likely to find out what effect the lower production from water flood will be? It was supposed to be 1,500 BOPD so maybe they need to revise this target� I expect later this year they will abandon this project due to lack of funds or realise it�s not viable due to environmental conditions not being suitable for these methods
Up 25% today which is great but won�t effect AIM because they follow us even though it�s now 439pm in Australia Work that one out if you can?
Trumploudly - Would you agree then if LSE official website closes tonight at 0.225 we are down 18% today or would you call that flat? You can't have it both ways even though I know you wish you could Heads you win Tails I lose comes to mind :)
Very true Rexco re: profits at these levels. Alas most shareholders (myself included) have averages that are unlikely to be reached. I expected many are looking for an escape route with the minimum loss they can afford to stomach. Many will never make a profit despite how excellent the new board are or are not carrying on currently. Let’s get real here - the share price isn’t going to treble or more short term unless debt is addressed or paid off. Oil prices going lower if rumour is to belived won’t help either. People have long memories and Range will do well to rid itself from the old regime who promised the world and delivered misery for a load of investors
Looks like somebody reported/removed my post about share price from Friday. I wonder who doesn’t what to know it was 18% down on Friday?
The fundamentals say we should be sub 0.20 so 0.22 is a fair price currently
Malcy mentions “holders are still well underwater” Some have drowned and I have read lost their houses That’s why when blantant lies are posted about share price and ramping to stop holders drowning rubs others nose in it and should be challenged every time
Windy - as I said let’s hope Range are fully aware of the country they are operating in. Have they had previously experiences in Indonesia or will it become the new Columbia?
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).
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
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/
Had little effect on ASX today so not expecting massive rise tomorrow on AIM