Post by JimmyRobby85 on May 15, 2014 13:29:21 GMT
Thanks Pearl for the recording
Not sure if this has been posted, the recording of yesterday's conference call now on the Range website:
rangeresources.com.au/audio/4960214000514067.mp3
Well just taken a few notes while listening to the Conf call and thought I'd share my thoughts.
Some of this is in the presentation and most of it you will listen to but I wanted to share it all to see what others think.
Trinidad and Puntland are our core assets (fair enough) not sure how long shareholders have stated this
so
Trinidad
3 way
Production - MD and SQ to be drilled with our own rigs (Does that mean that any new rigs wont be deployed here?)
Secondry - Waterflood for BM and MD
Exploration - to do in our exisiting blocks
Our Oilfield Service Provider or OSP will be LandOcean (no meantion of Kerui) who will work with our waterflood programme and bring their technological skills with them.
Mentions upstream in the conf call (I wonder if this has a link to RangeResources upstream Co) and if that company was set up for some process to take place with LO
Rig 1 will be drilling "Shortly" awaiting approval
Rig 8 to be mobilised to a new drilling site (unable to give further info due to state and petro approvals)
Rig 6-7 - These are still undergoing maintenance, No time given on these and they require capital funding.
No mention what sites the others are drilling or have drilled but states the quarterly report was updated up to around 2 weeks ago?
6 Production rigs and only 3 currently online, other 3 awaiting maintenance programme.
The maintenance programme is awaiting for capital funding, today we are told we will have around $2 mil extra for capital funding from the finance package (lets hope its put to getting our rigs online)
Waterflood is at the engineering/study stage and approvals are ongoing (hmmm) I love waiting for approvals lol, funding will also be needed for this, I doubt we will have the fund for it until we partner up
Though its more realistic having a target for doubling production for year end, at current production rates I'm more positive than that which would only be just above 1kBOPD. Saying that Rory also discusses the OSP and states he wants that completing prior to Year end (from todays news I would expect that LO release of sorted bythe 1st June may be reality)
If thats the case 1k BOPD for year end is a low target to aim for.
I'm also surprised we will only be doing 2 exploration wells until year end especially if we get an OSP in LO and what could come with that, including possibly new rigs?
Niko
our main concentration will be on the onshore but we still have offshore to think about
we will be paying 100% for 50% interest.
Lets hope our explorations in this area are succesful.
3d done onshore (large area) amd seismic done offshore
shallow share - 35% Petro and 20% Range
Deep share - 32% Petro and 40% Range
This will be great if we manage to do some deep drilling, what rigs etc we using. Lots more information will likely flow on this soon
Range will have opertorship for Niko so ultimatly will be responsible to get the drills turning
The first drill will be due to start drilling (spud) somepoint during Q2 in the Guag block (exploration) not by April as some claimed
St Marys - Its great that this has linked all of our blocks but I'd liked to have heard more about the plans with the St Marys block over the next year, likely to be left until we have further funding
I'm mostly annoyed at having all this acreage and not the kit to drill it all and get producing.
Production targets at the moment are without the finance deals (or other deals that may come) so thats a positive.
Texas and Georgia to be sold - we are in the process for both, like I said dependent on the result for #Atzam 5 selling before the notification would be nice lol so would sselling on the pump
Colo - It's nice to see we are reviewing this and means that our possible partners may also be interested, its a shame we gave away PUT 7 if thats the case.
Main aims
2 Exploration wells (thats it?
??) and it seems both will be on the Niko acreage, what about the Herrara formation?
long term finance (LandOcean and any other deals and soon???)
Reduce corporate overheads - well I'm not to sure on this one, I think he was refering to brokers etc however we have employed lots of board members and we have another 2 NEDs coming.
QandA
Trinidad is self funding for its operations - this doesn't include exploration or for growing production. Nor does it include secondry stage (waterflood)
Texas - door is open for the current purchaser (if he can come up with the monies)
at the same time Texas is back out to the market and Range are in discussions with several parties (Great)
IOP - Talks continue to recover the loan - Commercially, legally and contractually.
Range are making efforts to get part or full repayment commerically or legalls
Well no f'ing shit, I'm not sure what PL has done with this deal but to me it seems that $8 mil was thrown down the drain and as a result of that we have taken out loans which have damaged our company and MCap/SP.
I just don't get how a lawyer (PL) has put us in this situation with IOP and how we are still fighting to get that money back. Really has stiffed us on this deal.
Anyway just towards the end some other things I picked up
Rory says he was really excited about the next few RNAs due (hmmmm.... one today) and he is interested in feedback (RIG will provide a mix of positive and constructive feedback)
just my review of the conf call
Not sure if this has been posted, the recording of yesterday's conference call now on the Range website:
rangeresources.com.au/audio/4960214000514067.mp3
Well just taken a few notes while listening to the Conf call and thought I'd share my thoughts.
Some of this is in the presentation and most of it you will listen to but I wanted to share it all to see what others think.
Trinidad and Puntland are our core assets (fair enough) not sure how long shareholders have stated this
so
Trinidad
3 way
Production - MD and SQ to be drilled with our own rigs (Does that mean that any new rigs wont be deployed here?)
Secondry - Waterflood for BM and MD
Exploration - to do in our exisiting blocks
Our Oilfield Service Provider or OSP will be LandOcean (no meantion of Kerui) who will work with our waterflood programme and bring their technological skills with them.
Mentions upstream in the conf call (I wonder if this has a link to RangeResources upstream Co) and if that company was set up for some process to take place with LO
Rig 1 will be drilling "Shortly" awaiting approval
Rig 8 to be mobilised to a new drilling site (unable to give further info due to state and petro approvals)
Rig 6-7 - These are still undergoing maintenance, No time given on these and they require capital funding.
No mention what sites the others are drilling or have drilled but states the quarterly report was updated up to around 2 weeks ago?
6 Production rigs and only 3 currently online, other 3 awaiting maintenance programme.
The maintenance programme is awaiting for capital funding, today we are told we will have around $2 mil extra for capital funding from the finance package (lets hope its put to getting our rigs online)
Waterflood is at the engineering/study stage and approvals are ongoing (hmmm) I love waiting for approvals lol, funding will also be needed for this, I doubt we will have the fund for it until we partner up
Though its more realistic having a target for doubling production for year end, at current production rates I'm more positive than that which would only be just above 1kBOPD. Saying that Rory also discusses the OSP and states he wants that completing prior to Year end (from todays news I would expect that LO release of sorted bythe 1st June may be reality)
If thats the case 1k BOPD for year end is a low target to aim for.
I'm also surprised we will only be doing 2 exploration wells until year end especially if we get an OSP in LO and what could come with that, including possibly new rigs?
Niko
our main concentration will be on the onshore but we still have offshore to think about
we will be paying 100% for 50% interest.
Lets hope our explorations in this area are succesful.
3d done onshore (large area) amd seismic done offshore
shallow share - 35% Petro and 20% Range
Deep share - 32% Petro and 40% Range
This will be great if we manage to do some deep drilling, what rigs etc we using. Lots more information will likely flow on this soon
Range will have opertorship for Niko so ultimatly will be responsible to get the drills turning
The first drill will be due to start drilling (spud) somepoint during Q2 in the Guag block (exploration) not by April as some claimed
St Marys - Its great that this has linked all of our blocks but I'd liked to have heard more about the plans with the St Marys block over the next year, likely to be left until we have further funding
I'm mostly annoyed at having all this acreage and not the kit to drill it all and get producing.
Production targets at the moment are without the finance deals (or other deals that may come) so thats a positive.
Texas and Georgia to be sold - we are in the process for both, like I said dependent on the result for #Atzam 5 selling before the notification would be nice lol so would sselling on the pump
Colo - It's nice to see we are reviewing this and means that our possible partners may also be interested, its a shame we gave away PUT 7 if thats the case.
Main aims
2 Exploration wells (thats it?
??) and it seems both will be on the Niko acreage, what about the Herrara formation?long term finance (LandOcean and any other deals and soon???)
Reduce corporate overheads - well I'm not to sure on this one, I think he was refering to brokers etc however we have employed lots of board members and we have another 2 NEDs coming.
QandA
Trinidad is self funding for its operations - this doesn't include exploration or for growing production. Nor does it include secondry stage (waterflood)
Texas - door is open for the current purchaser (if he can come up with the monies)
at the same time Texas is back out to the market and Range are in discussions with several parties (Great)
IOP - Talks continue to recover the loan - Commercially, legally and contractually.
Range are making efforts to get part or full repayment commerically or legalls
Well no f'ing shit, I'm not sure what PL has done with this deal but to me it seems that $8 mil was thrown down the drain and as a result of that we have taken out loans which have damaged our company and MCap/SP.
I just don't get how a lawyer (PL) has put us in this situation with IOP and how we are still fighting to get that money back. Really has stiffed us on this deal.
Anyway just towards the end some other things I picked up
Rory says he was really excited about the next few RNAs due (hmmmm.... one today) and he is interested in feedback (RIG will provide a mix of positive and constructive feedback)
just my review of the conf call
