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World Stocks

Range Resources

Huge Petrotrin potential

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

Huge Petrotrin potential

Post Sun Apr 15, 2018 7:43 pm

Currently advertised on the Petrotrin site. I would hope that RRDSL must be a forerunner on T&T for this type of work. The value of the contract must over a period of times be worth several hundred millions of dollars and certainly a game changer for Range!

IMPROVED OIL RECOVERY (IOR) STRATEGY
1. INTRODUCTION As a strategy to increase its oil production, Petrotrin is seeking to partner with suitably qualified local and/or international Firms that are interested in jointly designing and implementing improved oil recovery (IOR) projects across its acreage/fields, both onshore and offshore. This Expression of Interest (EOI) and Pre-qualification Process, seeks to identify those Firms that meet certain financial, technical and other criteria that Petrotrin deems necessary for such partnering. Firms that have successfully completed the EOI and Pre-qualification Process will be allowed an opportunity to further participate towards the submission of a detailed technical and commercial proposal.
2. REQUIRED SUBMISSIONS The following information must be submitted by firms wishing to be considered: • General Company Information • Company name, registered address and contact information • Incorporation documents • Type of company/ownership • Shareholders • Company profile • Company representative and contact information • Relevant organization charts and key personnel • Financial Information • Last three (3) years’ audited annual financial statements • Known current and future changes of relevance • Details of any litigation for or against • Banking institution • Bank guarantee • Technical Information • Technical alliances • Relevant organization charts • Human resource capability including resumes of key personnel • Technical capability e.g. reservoir modeling/simulation, project management (including software used) • Other resources available e.g. laboratory, rigs (drilling and workover) etc.
• Core IOR processes • Years of experience in each IOR process and details of projects undertaken within the past twenty (20) years • Project Planning and Execution Methodology Based on the information given in this document and on your previous knowledge and experience with projects of a similar nature, you are requested to submit your recommended conceptual contract model philosophy. The model should reflect your Firm’s risk appetite and may include a proposal for possible incentive scheme/ model. • HSE Management System
3. PRE-QUALIFICATION Firms that wish to pre-qualify will be evaluated on the following factors: • Financial Capacity • IOR Experience • Resources • Project Plan & Execution Methodology • HSE Management System Interested Firms must obtain an Invitation to Pre-qualify package from Petrotrin. This can be obtained by visiting http://www.Petrotrin.com or email addressed to procpap2@petrotrin.com.
4. PROJECT AREAS Petrotrin is actively reviewing its acreage/fields to identify possible areas for these IOR projects. Firms that have successfully completed the EOI and Pre-qualification Process will be subsequently advised as to these areas and will be allowed to further participate towards the submission of a detailed technical and commercial proposal.
5. CLOSING DATE FOR RECEIPT OF EOI: Applications for EOI and accompanying documents must be uploaded with the Invitation to Pre-qualify package to procpap5@petrotrin.com no later than 9:00 a.m. on 2017 March 31. Late applications will not be accepted. 6. PETROTRIN reserves the right to accept or reject any

It is a year since the EOI and in that time the result in Columbia removes a problem that may have a effected item 2. There has as yet no decision announced and I doubt Eva will comment on any application of the EOI
Nedkellylandau
 
Posts: 1931
Joined: Mar 2013
Location: Lost on the Range

Re: Huge Petrotrin potential

Post Sun Apr 15, 2018 7:55 pm

A game changer for Range!.........That's an understatement !
Doing a good job for Shell cant hurt, neither can having those health & safety certificates and having some of the most modern / nearly new rigs too.


Nedkellylandau wrote:
> Currently advertised on the Petrotrin site. I would hope that RRDSL must be
> a forerunner on T&T for this type of work. The value of the contract
> must over a period of times be worth several hundred millions of dollars
> and certainly a game changer for Range!
User avatar
Loadsamoney
 
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Re: Huge Petrotrin potential

Post Sun Apr 15, 2018 9:10 pm

0.3 here we come!
Kablamoh
 
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Re: Huge Petrotrin potential

Post Mon Apr 16, 2018 8:41 am

This was a year ago. Possibly scrapped or delayed through Petrotrin chaos?

Besides...

“Last three (3) years’ audited annual financial statements”

Oh well, it was a nice thought whilst it lasted!
Canaries60
 
Posts: 285
Joined: Oct 2013
Location: Portsmouth

Re: Huge Petrotrin potential

Post Mon Apr 16, 2018 9:07 am

Always good to get some insight that might impact Range.

Slow start , but the fact we got Shell using our rig is a sign of confidence in the reliability of our drill crew - something to shout about.

I guess the market will take a more serious note of this once the rig has completed its assigned job and any particular additional work that Shell may assign us (as aluded to in the RNS)

GLA
IT
User avatar
Invester_Tester
 
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Re: Huge Petrotrin potential

Post Mon Apr 16, 2018 10:10 am

Indonesia and Petrotrin are just as bad/slow as anything in the Caribbean..
TONY THE TIGER
 
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Re: Huge Petrotrin potential

Post Mon Apr 16, 2018 1:31 pm

Canaries60 wrote:
> This was a year ago. Possibly scrapped or delayed through Petrotrin chaos?
>
> Besides...
>
> “Last three (3) years’ audited annual financial statements”
>
> Oh well, it was a nice thought whilst it lasted!

Canaries
When you see the number of boxes to be ticked it will be an exceptional company that can meet all of the criteria
It may be questionable if RRDSL can be considered but look at some of the positives.
We already have experience in the area on waterflood. We found that the local electricity supply couldn't cope, we've identified the problem of water supply and taken constructive measures to overcome that. We already do work for Petrotrin and the recent work for Shell must count for something as well. We have the equipment, we have the manpower and some of Petrotrins areas are close th the existing waterflood system. Who else in T&T has the knowledge.
I wouldn't expect any decision soon due to the Petrotrin reorganisation.
Unlike Yuff I do consider it worthy of discussion.
I do think the poor guy should be publicly identified as he must really need help and if we keep kicking him off WS and LSE he might do himself some harm - then again we might get some peace!
Nedkellylandau
 
Posts: 1931
Joined: Mar 2013
Location: Lost on the Range

Re: Huge Petrotrin potential

Post Mon Apr 16, 2018 1:33 pm

Noloadsofmoney wrote:
> this is no relevance to Range so waste of time discussing

Says the muppet who told us all it was impossible for RRL to get back on AIM for legal reasons when it did and has been regularly predicting sub 600 bopd for months
Nedkellylandau
 
Posts: 1931
Joined: Mar 2013
Location: Lost on the Range

Re: Huge Petrotrin potential

Post Mon Apr 16, 2018 1:44 pm

There is the possibility that we might get something off the table on this as sub-contractors. Given the resurgence in USA fracking there may not be that much appropriate rig capacity available to be deployed to Trinidad. Noting also our kit is new and already in-country with appropriate regulatory sign-offs. Will be interesting to see how this plays out for us, but it is hard to see any significant downside.

Anyone have views on how attractive a market Trinidad is for a driller in comparison to other countries in the region.
tennents
 
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