Post by JimmyRobby85 on Feb 3, 2014 10:52:35 GMT
My opinion of the Quarterlies
******
"During the quarter, the executives recruitment process continued
and resulted with the appointment of a new CEO, Mr Rory Scott Russell and two
new Non-Executive Directors, Mr Graham Lyon and Dr Christian Bukovics
subsequent to quarter end - see separate announcement 3 February 2014"
Good to see some fresh blood with oil experiance, let hope to hear from Rory on the conference call?
******
"The farm-in agreement with Niko Resources Ltd, regarding the
Guayaguayare Block in Trinidad has been formally approved by Trinidadian
authorities, adding 280,000 acres to Range's net Trinidad acreage position"
Approved, no mention of drilling this acreage with our current RIGs in the quarterly report so I presume RBL must be near and the new rigs??
******
"Trinidad production for the quarter of 54,660 bbls (594 bopd)
compared to an average of 636 bopd in the previous quarter with decrease due
to drilling rig repairs and maintenance"
I'm surprised at the level of the drop off in BOPD, lets hope over the next few months we can get this rolling back towards the 1k BOPD? I'm hoping that we get regular updates over the next year.
******
"Rig 2 and 5 are online and drilling ahead wells QU 452 "
I'm glad something is drilling
******
"Once the formal approvals are
received, the MD 248 well will be side tracked from 3,234 ft, to a target
depth of 6,500 ft."
Still waiting for approvals? first we have heard about side track of MD248. Well guess we are back to waiting to see what happens next? Anybody with better oil knowledge want to expand on the side track?
******
No mention of RBL, new RIGS or rig 7 which was used for spare parts....?
******
"Morne Diablo Waterflood Project
Following the final receipt of approvals on the proposed waterflood
programme for Morne Diablo, the Company is preparing to commence field
development with surface equipment and facility installation work."
I'd love to know more about this, timeframes etc.
******
"The bid round selection is
expected to be announced by the Ministry of Energy of Trinidad to the public
during Q1 2014."
next few days then, did we win St Marys?
******
GUATEMALA
No mention of this loan to Range $300k which is discussed on many BB's or the current share ownership (which I doubt is an issue but would be nice if cleared up)
******
"As previously announced, the Joint Venture ("JV") continues to
advance discussions with potential farmâ€in partners and buy out parties"
No big surprises with Georgia as some stated, however could be a dark horse
******
"The Company is proceeding with completion of its Texas asset sale
for a total pre-tax cash consideration of US$30m"
Pre-tax? so will we be taxed $5 mil on the $25 mil???
******
"As previously announced, Range is considering a range of corporate
alternatives to the original merger proposal given IOP's sale of its Russian
and Kazak assets.
The merger will not be proceeding, however constructive
negotiations continue with regards to Range's $8m loan to IOP and commitment
to generate significant returns from the transaction."
I'm glad this is put to bed - NO MERGER...! what happens next? we need to try and get our money back it seems?
******
Lots more to be discussed with the new appointments of our non-execs and new CEO but thats for another thread. Interesting to see the links of one of our new execs to a investment company looking to invest around 50 mil in Feb?
Lets see what the next few weeks bring.
SP reaction is good, a small increase is nice.
Last dilution event this month too?
******
"During the quarter, the executives recruitment process continued
and resulted with the appointment of a new CEO, Mr Rory Scott Russell and two
new Non-Executive Directors, Mr Graham Lyon and Dr Christian Bukovics
subsequent to quarter end - see separate announcement 3 February 2014"
Good to see some fresh blood with oil experiance, let hope to hear from Rory on the conference call?
******
"The farm-in agreement with Niko Resources Ltd, regarding the
Guayaguayare Block in Trinidad has been formally approved by Trinidadian
authorities, adding 280,000 acres to Range's net Trinidad acreage position"
Approved, no mention of drilling this acreage with our current RIGs in the quarterly report so I presume RBL must be near and the new rigs??
******
"Trinidad production for the quarter of 54,660 bbls (594 bopd)
compared to an average of 636 bopd in the previous quarter with decrease due
to drilling rig repairs and maintenance"
I'm surprised at the level of the drop off in BOPD, lets hope over the next few months we can get this rolling back towards the 1k BOPD? I'm hoping that we get regular updates over the next year.
******
"Rig 2 and 5 are online and drilling ahead wells QU 452 "
I'm glad something is drilling
******
"Once the formal approvals are
received, the MD 248 well will be side tracked from 3,234 ft, to a target
depth of 6,500 ft."
Still waiting for approvals? first we have heard about side track of MD248. Well guess we are back to waiting to see what happens next? Anybody with better oil knowledge want to expand on the side track?
******
No mention of RBL, new RIGS or rig 7 which was used for spare parts....?
******
"Morne Diablo Waterflood Project
Following the final receipt of approvals on the proposed waterflood
programme for Morne Diablo, the Company is preparing to commence field
development with surface equipment and facility installation work."
I'd love to know more about this, timeframes etc.
******
"The bid round selection is
expected to be announced by the Ministry of Energy of Trinidad to the public
during Q1 2014."
next few days then, did we win St Marys?
******
GUATEMALA
No mention of this loan to Range $300k which is discussed on many BB's or the current share ownership (which I doubt is an issue but would be nice if cleared up)
******
"As previously announced, the Joint Venture ("JV") continues to
advance discussions with potential farmâ€in partners and buy out parties"
No big surprises with Georgia as some stated, however could be a dark horse
******
"The Company is proceeding with completion of its Texas asset sale
for a total pre-tax cash consideration of US$30m"
Pre-tax? so will we be taxed $5 mil on the $25 mil???
******
"As previously announced, Range is considering a range of corporate
alternatives to the original merger proposal given IOP's sale of its Russian
and Kazak assets.
The merger will not be proceeding, however constructive
negotiations continue with regards to Range's $8m loan to IOP and commitment
to generate significant returns from the transaction."
I'm glad this is put to bed - NO MERGER...! what happens next? we need to try and get our money back it seems?
******
Lots more to be discussed with the new appointments of our non-execs and new CEO but thats for another thread. Interesting to see the links of one of our new execs to a investment company looking to invest around 50 mil in Feb?
Lets see what the next few weeks bring.
SP reaction is good, a small increase is nice.
Last dilution event this month too?
