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Range Resources

Commencement of operations in Indonesia

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

Commencement of operations in Indonesia

Post Sun May 27, 2018 11:38 pm

https://hotcopper.com.au/threads/ann-co ... wsy3IrTWhA

Available in a few mins....
Better be good!
Buckz
 
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Joined: Mar 2012

Re: Commencement of operations in Indonesia

Post Sun May 27, 2018 11:44 pm

Buckz
 
Posts: 187
Joined: Mar 2012

Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 12:56 am

Much better
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Razzledazzle
 
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Joined: May 2012

Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 1:15 am

Back to back positive rns

Like this, please keep this up Range. Pretty please
FUBAR@Birth
 
Posts: 924
Joined: Mar 2012

Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 9:52 am

Another solid RNS. Nice.
rasclaat bambaclaat
 
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Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 9:58 am

Very happy with another good RNS, I could get used this.

One question (possibly stupid question) I do have is that it states 10 well reopenings and 2 work overs (POG-D & POG-E), does that mean the other 8 are just reopened but not given a work over?
ritchieg01
 
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Joined: Jan 2013

Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 10:37 am

Just the two positive RNSs ?
Ignoring the price monitoring rns, heres the others

Latest Indo update - positive
24/05 Range exceeds production - very positive
25/04 Informing us of accident out there, issues quickly & correctly
24/04 Qtrly Update - very positive & performance increases
11/04 Colombia update - positive in settling out of court & no potential $53m liability anymore
09/04 Presentation - done professionally & shows improvements
06/04 Indo clarity RNS
05/04 Q&A - some say positive comms, others say waste of time !
22/03 Indo update & workplan - positive in clarity
21/03 Shell contract - very positive
16/03 Half Year Report - significant progress
02/03 Exec Dir signs contract with new Group COO and Gen Mgr in Trin
21/02 Appoint COO
21/02 Trin update - positive increase in Production & giving overview of work programme for 2018
08/02 Expiry of Options
31/01 Quarterly report - again shows increasing operational improvements
18/01 Q&A
02/01 Trip Operational update - positive re drill success and bopd improvements

So you see, its not just 2 good RNSs, generally most of them have been positive & showing improvements in performance. Also, lets not forget they are massively accelerating Indo plans from 3 years to under 1 year

My only concerns are around finding a solution to waterflood - what does that mean ? and Id have hoped by now to have heard we have won more contract work in Trin. The positive to not receiving contract work is the crews are working flat out on sorting our own wells out & improving bopd.

And lets not forget, Qtr to June WILL show the best quarterly performance of the 4x quarters that make up 2018 full year accounts (why - because bopd is at its highest & so is WTI average = receipts will be highest too).

There is only so much time left for the likes of Omadawn aka Surely & Co to convince you were all doomed before the SP WILL start to match operational performance. Complete bellends over there. Hey Oma, hows the Daughters shares coming on ? or the 1000 Trinity merger posts LMAO Total BS

Where were we when we suspended over a year ago ?
About 0.35p and 500ish bopd & $2.5m quarterly receipts & WTI of about $45/barrel.
Now the SP is admittedly dire at 0.225p but bopd is over 800 & growing now and receipts for this quarter WILL be over $4m and yearly receipts WILL go from $8m to over $12m & WTI is now around $70/barrel and we now have Indonesia


Doomed...going bust.....what a load of complete fabricated sharemongering load of total BS from the very very bitter multi id ex shareholders who cant let go

Have a great bank holiday
Loadsa
Off for a nice Guinness - much nicer & less bitter than a Murphy's !!!

FUBAR@Birth wrote:
> Back to back positive rns
>
> Like this, please keep this up Range. Pretty please
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Loadsamoney
 
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Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 2:10 pm

The announcement seems to have had little effect on the ASX.
I have to disagree with Loadsa that the three year plan is being reduced to one year. There has been no mention made of the required one well drilled.
There are several unknowns to be faced and not all bad. It has been mentioned that there is some evidence that some pressure has been built up on the reservoirs during years of the wells being sealed and this could result in a few pleasant surprised bearing in mind that some of the wells were producing near 200 bopd.
I don't think they will drill a new well until they get some feel of the reservoirs from the well workovers but I do think they will push ahead as quickly as possible. At present oil prices even 40 bopd works out around a million dollars per year - pushing ahead with the development to increase our percentage of the deal would more than double the income.
It will be very interesting to see the results of the first well reopening.
Nedkellylandau
 
Posts: 1966
Joined: Mar 2013
Location: Lost on the Range

Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 9:47 pm

Ned

We won’t have to wait long as the RNS states that the reopening and work over will be completed by end of MAY !!!!!

GLA
NDT
NoDubaiTax
 
Posts: 442
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Location: Dubai

Re: Commencement of operations in Indonesia

Post Mon May 28, 2018 9:49 pm

Sorry only reopening of well by end of MAY, work over to follow but will be quick for sure.
NoDubaiTax
 
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Location: Dubai

Re: Commencement of operations in Indonesia

Post Tue May 29, 2018 7:50 am

all positive lately, good to see/hear
kemp91
 
Posts: 1580
Joined: Apr 2013

Re: Commencement of operations in Indonesia

Post Tue May 29, 2018 4:36 pm

Positive news and the company comments imply that Indonesia is important for improving shareholder value.

As with others my main concern now is the water flood and whether the company has contingency plans in place to either rectify any problems or advance the drilling programme to increase production.

It would seem that the favourable terms the company has received from LandOcean is compensation for the appalling failure of LandOcean to successfully implement the enhanced recovery expected.

Hopefully the new strategy will make up for the lost production from the water flood. When are we likely to find out what effect the lower production from water flood will be?

It was supposed to be 1,500 BOPD so maybe they need to revise this target.
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Rexco
 
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