Thu Jul 12, 2018 11:08 pm
Whatever you do Razz, dont take those Tena pants off ffs !
No guarentees with drilling or waterflood, thats obvious.
Remember back in the day when Liardau talked about 10,000 bopd for Range ?
I dont recall such rampy predictions with new lot, they have learned their lessons & if anything are under playing/promising & over delivering
M Diablo waterflood - it was clear, if you followed the numbers, it wasnt going anywhere since Sept last year
As for Marcelle, it seems to have got stuck at 200bopd & Im not satisfied in how Range has handled that news. But even if its peaked, its still $14,000 per day gross. We wait and see
As for progress too little too late, I disagree. Back in March 17 we would have snatched at todays WTI of over $70 (when it was $48) and back then we would have taken 820 bopd when we were stuck at 567. So potential income has grown from $10m to $20m & its not progress ? Lets say we ave 1000 bopd in new financial year at say $70, thats $25m or $5m up on current levels - enough to pay the interest on a new loan that will pay off current one & possibly give some more working capital.
This isnt old Range of 1 step forward & 2 back, we have progressed month on month & quarter by quarter. Income in this financial year will be a big leap forward from last year
And lets not forget, they sunk last years accounts. They were always going to be bad with WTI so low & bopd on tick over so they wrote off all the goodwill - all $29 million worth. Thats not happening this time around
As for Indonesia, stop whinging about that. We knew half a year back it was 10 wells and 200 bopd gross & wed get 23% or some 45 bopd. And for that privilage, Range are putting in $3.6m this year to accelerate workloads. This is just a loss leader clearly. The big aim is to see how that goes & then once we see value & gain a 42% stake we accelerate even more.
As for Trinidad, I see eventually becoming secondary. Id like to see RRDSL sub contracted more than not as it may be more profitable that drilling depleating wells and doing workovers. And the jury is out on waterflood for the moment.
The ONLY thing not catching up with operational progress is the SP & its being suppressed. Ive been watching & whenever the ask goes up., along comes something to knock it back down and quickly.
We will know much more once q2 2018 figures are released & then we will have headline numbers for the full year accounts - look at the numbers & turnaround....bopd and income and p&l bottom line - all hugely improving.
And its the new accounts when published that potential new shareholders will read over next 12 months, not the shitty accounts from last year
We will see but I fully expect a nice SP uplift post full year accounts out. If not, I see may resolutions in Nov being voted down but operationally done well so cant see that happening. Its down to accounts & SP correction for me
But dont take my numbers as gospel, have a look at last 3 quarterlies & add them up
IMO