Questions for Energy Conference - 2 October - PLEASE VOTE!
Sept 26, 2014 10:58:55 GMT
JimmyRobby85 likes this
Post by RIG Admin on Sept 26, 2014 10:58:55 GMT
All
As previously advised one of RIG's members, Speculater, is Trinidad based and will be attending the Energy Conference in Port of Spain at which Rory Scott Russell is presenting on 2 October. He has kindly offered to ask questions on behalf of RIG members. Thank you to all RIG members for submitting your questions. We have consolidated those questions that were printable(!) into the following list of 20. Please vote on your top 5 so that Speculater can prioritise his questions (PLEASE NOTE IT IS 5 (FIVE) QUESTIONS YOU VOTE ON EVEN THOUGH IT SAYS 3! - Cannot reopen poll once its posted!):
1. Could you please confirm what current production is and whether we are still on track to hit the 1,000bopd target at year end?
2. What is your production target for each of the next 3 years?
3. The June operations update said that we have 4 rigs operational and Malcolm Graham Wood declared it to be 5. However the Trinidad Ministry of Energy reported that only 1 Range rig was drilling in July. Why?
4. Land Ocean in their press releases have disclosed that they have been undertaking escalated workover activity for Range - this tallies with increased reported Petrotrin workover - can you confirm whether Range been focusing on workovers instead of development drilling and why?
5. How many rigs are currently drilling, not just operational?
6. The Trinidad Ministry reports show 6 wells reaching TD but not completing. Why have these wells not completed? When will they be brought online?
7. What is our cash situation given low bopd and lack of divestment - how are you funding short-term working capital requirements?
8. Shareholders are frustrated that The LandOcean financing deal seems to be on good terms but has not been drawn down upon - why has Range not taken up this financing package to ramp up production? Does Range intend to use this finance or seek alternative Financing?
9. Do you think we are doing enough to maintain current shareholders or attract new ones. How do you plan to make Range more attractive to investors?
10. What is the single, most significant, current issue preventing Range from increasing its production (bopd) in Trinidad, and what are you actively doing to mitigate or resolve it?
11. Will Rory Scott Russell’s presentation (slides) be published on the Range website?
12. What is the drilling plan for Trinidad and how are you going to finance it?
13. At the low company Market Cap what protection is in place to make sure we are not taken over for our "world class assets"?
14. What is Range doing to do in addressing the damage caused to investor relations and the share price by the anomalies in the T & T government monthly energy report?
15. Why did Range not comment on the share price appreciating rapidly to 2.7p and now crashing to 1.2p? Why are you not managing shareholders' expectations and managing newsflow?
16. Two weeks ago GeoGlobal is in legal dispute with PetroCaribbean in Colombia regarding the Putumayo 6 licence - how does this impact Range?
17. What is the status of Texas - If it is still for sale please advise of divestment timescales. If not what is its operational status and production?
18. When is Range required to start drilling on Niko's acreage to meet its obligations? When does Range plan to start?
19. When will operations mobilise on St Mary's? When will the first well be drilled?
20. When do you forecast meeting the conditions for your options of 2,500bopd and 4p share price?
21. The file properties of your Regulatory announcement on 25 September regarding the date of the annual report was "Range 15m financing DRAFT Announcement (HSF comments)". What does this refer to please and are the HSF Herbert Smith Freehills who advised on the LandOcean deal?
Please note that the questions are too long to be able to put next to the poll so the corresponding number has been used
Thanks
The RIG Representatives
As previously advised one of RIG's members, Speculater, is Trinidad based and will be attending the Energy Conference in Port of Spain at which Rory Scott Russell is presenting on 2 October. He has kindly offered to ask questions on behalf of RIG members. Thank you to all RIG members for submitting your questions. We have consolidated those questions that were printable(!) into the following list of 20. Please vote on your top 5 so that Speculater can prioritise his questions (PLEASE NOTE IT IS 5 (FIVE) QUESTIONS YOU VOTE ON EVEN THOUGH IT SAYS 3! - Cannot reopen poll once its posted!):
1. Could you please confirm what current production is and whether we are still on track to hit the 1,000bopd target at year end?
2. What is your production target for each of the next 3 years?
3. The June operations update said that we have 4 rigs operational and Malcolm Graham Wood declared it to be 5. However the Trinidad Ministry of Energy reported that only 1 Range rig was drilling in July. Why?
4. Land Ocean in their press releases have disclosed that they have been undertaking escalated workover activity for Range - this tallies with increased reported Petrotrin workover - can you confirm whether Range been focusing on workovers instead of development drilling and why?
5. How many rigs are currently drilling, not just operational?
6. The Trinidad Ministry reports show 6 wells reaching TD but not completing. Why have these wells not completed? When will they be brought online?
7. What is our cash situation given low bopd and lack of divestment - how are you funding short-term working capital requirements?
8. Shareholders are frustrated that The LandOcean financing deal seems to be on good terms but has not been drawn down upon - why has Range not taken up this financing package to ramp up production? Does Range intend to use this finance or seek alternative Financing?
9. Do you think we are doing enough to maintain current shareholders or attract new ones. How do you plan to make Range more attractive to investors?
10. What is the single, most significant, current issue preventing Range from increasing its production (bopd) in Trinidad, and what are you actively doing to mitigate or resolve it?
11. Will Rory Scott Russell’s presentation (slides) be published on the Range website?
12. What is the drilling plan for Trinidad and how are you going to finance it?
13. At the low company Market Cap what protection is in place to make sure we are not taken over for our "world class assets"?
14. What is Range doing to do in addressing the damage caused to investor relations and the share price by the anomalies in the T & T government monthly energy report?
15. Why did Range not comment on the share price appreciating rapidly to 2.7p and now crashing to 1.2p? Why are you not managing shareholders' expectations and managing newsflow?
16. Two weeks ago GeoGlobal is in legal dispute with PetroCaribbean in Colombia regarding the Putumayo 6 licence - how does this impact Range?
17. What is the status of Texas - If it is still for sale please advise of divestment timescales. If not what is its operational status and production?
18. When is Range required to start drilling on Niko's acreage to meet its obligations? When does Range plan to start?
19. When will operations mobilise on St Mary's? When will the first well be drilled?
20. When do you forecast meeting the conditions for your options of 2,500bopd and 4p share price?
21. The file properties of your Regulatory announcement on 25 September regarding the date of the annual report was "Range 15m financing DRAFT Announcement (HSF comments)". What does this refer to please and are the HSF Herbert Smith Freehills who advised on the LandOcean deal?
Please note that the questions are too long to be able to put next to the poll so the corresponding number has been used
Thanks
The RIG Representatives
