Post by JimmyRobby85 on May 21, 2014 12:21:07 GMT
Just wondering what others expect in the short term from Range and wanted to share my opinion on some of the information that should be coming out soon, rather than some of the quabbling or general attacks found on the boards at the moment.
Well Range and the BB's seem to have gone quiet over the last few days with very little said, even prior to that we have only had RIG discussions (quabbles). I think many investors are waiting for real news to have some valuable discussions.
I just wondered how others felt on the below issues
CTR and #Atzam 5 results are due "NOW" as per their announcments but with PL now on the board and with me learning from past experiance that could come at any time and we will probably find dribbles coming through on the BBs prior to the release.
The thing with CTR and Atzam fields is the storage and sale once it's producing. If they find a new reservoir that's great news but if they have to restrict the flow of oil as they are still doing on Atzam #4 its a great shame.
It really needs an Injection of money and with Range looking to sell up (as per the recent conf call) I'm not sure where this money is going to come from? PL is a master at raising funds but it doesn't always benefit shareholders (as per Range) nor does it always get spent wisely.
As we dont have the funds to pump into the programme and we are told we will be selling up, I hope we do so on the pump from the result of Atzam #5 if its good news offcourse.
Now onto the Range assets
Lots of information out on the boards from "those in the know" stating Georgia will sell for $32 mil (around). Personally I will wait for both Range and RMP SPs to start to jump to show any sign of this being as near as some say.
Texas - I really do think the "current buyer/previous buyer" is out of the picture and the asset will have to go back out to the market to start this whole process again. i don't even want to think how much money its costing us to try and sell the asset with all the problems it has caused with our cash position - I just can't see this asset being sold in the near future (year) as the whole DD process etc will have to start again if they find a new buyer.
Colo - The news of us pulling out of PUT7 did surpris a few but again we have no money and to many assets. I like that Rory is trying to get us on the right track with the asset he believes (I hope) is the asset that will make us some money (Trini) and the one that requires any cash injection - All other assets are draining cash we just dont have, I'm now wondering if we will pull ut of Colo all together?
Puntland - Lots of theories and times guessed on this however I wouldn't think anything will be happening during 2014 and if it does I then wonder where our money is going to come from. Lots of people are linking LO to Puntland too but I just don't see it yet and ill take one step at a time (lets get them on board for Trinidad first). The chinese have a keen eye on Trinidad and lots of visits have taken place by their politicians so thats what I think they are interested in.
Trinidad - Ill break this up a little bit
Drills - I would love to see a drilling programme and an update, I just cant see this coming until after the LO deal and/or any other deals linked to this (OSP or RBL etc) but I'd certainly be interested to see what our online drills have drilled and what BOPD rate they have produced. RIG have campaigned for a comprehensive update on Trinidad production and will continue to do so. As per the RIG site its also noted that the TandT montly bulletings is late (again).
Rigs - Well this is another subject which has massive grey areas, we have rigs 6 and 7 out of action - no timeframe, however go and have a look when they last drilled (a concern)
rig 1 - hopefully back to drilling soon
2 and 5 - probably our best rigs over the last year or so, drilled a few locations this year but no update on flow rates
rig 8 - hmmmm, is this capable of deep drilling with the current employment and equipment? hopefully we will get an update on its next target after the LO deal.
we really need some deep drilling rigs - Lets hope we get some with some of the deals said to be going on at the moment and previous releases in relation to Kerui
LO - Lots of information on a lot of the boards again saying these are linked to Kerui and this is where Range will get its extra rigs and crews from but nothing confirmed yet and in recent announcments no meantion of Kerui either. LO will add a lot of extra expertese and cash injection but providing rigs and crews??? we shall see (I remain hopeful)
LO made a press release saying that they expect Phase 1 to happen by Mid may (I'm presuming this is our new debtors with two board members but could be wrong) and then close the deal at the start of June. The debtors are expected to be sorted by the 30th May (It does mean a shed load of new shares) but it does mean we get rid of the WONGA loans as they are reffered too.
Personally its good to see Range up from the bottom, its not much though and I hope they can continue this growth in MCap/SP in the coming months with some of the above deals.
I do think it will take some time for the SP to recover fully though and even if the new LO deal is a cash injection of say $20 mil for waterflood and Kerui came onboard with new rigs I ust cant see our SP going near or above 2p until our production is on the up for at least 3 months.
The market may react better to the news then I expect, as Range will have sorted its finances but I really do think they will have to proove they can increase production.
I hope to be proven wrong and I hope these deals are way better than I expect.
Well Range and the BB's seem to have gone quiet over the last few days with very little said, even prior to that we have only had RIG discussions (quabbles). I think many investors are waiting for real news to have some valuable discussions.
I just wondered how others felt on the below issues
CTR and #Atzam 5 results are due "NOW" as per their announcments but with PL now on the board and with me learning from past experiance that could come at any time and we will probably find dribbles coming through on the BBs prior to the release.
The thing with CTR and Atzam fields is the storage and sale once it's producing. If they find a new reservoir that's great news but if they have to restrict the flow of oil as they are still doing on Atzam #4 its a great shame.
It really needs an Injection of money and with Range looking to sell up (as per the recent conf call) I'm not sure where this money is going to come from? PL is a master at raising funds but it doesn't always benefit shareholders (as per Range) nor does it always get spent wisely.
As we dont have the funds to pump into the programme and we are told we will be selling up, I hope we do so on the pump from the result of Atzam #5 if its good news offcourse.
Now onto the Range assets
Lots of information out on the boards from "those in the know" stating Georgia will sell for $32 mil (around). Personally I will wait for both Range and RMP SPs to start to jump to show any sign of this being as near as some say.
Texas - I really do think the "current buyer/previous buyer" is out of the picture and the asset will have to go back out to the market to start this whole process again. i don't even want to think how much money its costing us to try and sell the asset with all the problems it has caused with our cash position - I just can't see this asset being sold in the near future (year) as the whole DD process etc will have to start again if they find a new buyer.
Colo - The news of us pulling out of PUT7 did surpris a few but again we have no money and to many assets. I like that Rory is trying to get us on the right track with the asset he believes (I hope) is the asset that will make us some money (Trini) and the one that requires any cash injection - All other assets are draining cash we just dont have, I'm now wondering if we will pull ut of Colo all together?
Puntland - Lots of theories and times guessed on this however I wouldn't think anything will be happening during 2014 and if it does I then wonder where our money is going to come from. Lots of people are linking LO to Puntland too but I just don't see it yet and ill take one step at a time (lets get them on board for Trinidad first). The chinese have a keen eye on Trinidad and lots of visits have taken place by their politicians so thats what I think they are interested in.
Trinidad - Ill break this up a little bit
Drills - I would love to see a drilling programme and an update, I just cant see this coming until after the LO deal and/or any other deals linked to this (OSP or RBL etc) but I'd certainly be interested to see what our online drills have drilled and what BOPD rate they have produced. RIG have campaigned for a comprehensive update on Trinidad production and will continue to do so. As per the RIG site its also noted that the TandT montly bulletings is late (again).
Rigs - Well this is another subject which has massive grey areas, we have rigs 6 and 7 out of action - no timeframe, however go and have a look when they last drilled (a concern)
rig 1 - hopefully back to drilling soon
2 and 5 - probably our best rigs over the last year or so, drilled a few locations this year but no update on flow rates
rig 8 - hmmmm, is this capable of deep drilling with the current employment and equipment? hopefully we will get an update on its next target after the LO deal.
we really need some deep drilling rigs - Lets hope we get some with some of the deals said to be going on at the moment and previous releases in relation to Kerui
LO - Lots of information on a lot of the boards again saying these are linked to Kerui and this is where Range will get its extra rigs and crews from but nothing confirmed yet and in recent announcments no meantion of Kerui either. LO will add a lot of extra expertese and cash injection but providing rigs and crews??? we shall see (I remain hopeful)
LO made a press release saying that they expect Phase 1 to happen by Mid may (I'm presuming this is our new debtors with two board members but could be wrong) and then close the deal at the start of June. The debtors are expected to be sorted by the 30th May (It does mean a shed load of new shares) but it does mean we get rid of the WONGA loans as they are reffered too.
Personally its good to see Range up from the bottom, its not much though and I hope they can continue this growth in MCap/SP in the coming months with some of the above deals.
I do think it will take some time for the SP to recover fully though and even if the new LO deal is a cash injection of say $20 mil for waterflood and Kerui came onboard with new rigs I ust cant see our SP going near or above 2p until our production is on the up for at least 3 months.
The market may react better to the news then I expect, as Range will have sorted its finances but I really do think they will have to proove they can increase production.
I hope to be proven wrong and I hope these deals are way better than I expect.
