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World Stocks

Range Resources

Q&A

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

Q&A

Post Tue Jul 03, 2018 4:35 pm

http://www.rangeresources.co.uk/uploads ... 030718.pdf
For your delight and edification - or somesuch!!
Buckz
 
Posts: 191
Joined: Mar 2012

Re: Q&A

Post Tue Jul 03, 2018 5:32 pm

Lots of emphatic answers there. Cheers for posting.
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ErraticPhil
 
Posts: 1262
Joined: Mar 2012
Location: In the land of snap, crackle and POP

Re: Q&A

Post Tue Jul 03, 2018 5:58 pm

A lot of answers. I'm not so sure about emphasis.
Why with the price of oil increasing so much since April did they choose to go down a route that was going to take 5 months to repair a pump. A pump we were led to believe away back in April was a major concern to now be told it doesn't have much effect on the amount of water being injected.
If we have so much access to water why wasn't the 2500 bopd due Dec 2017 not achieved and indeed won't be achieved this year
On a more positive vein they do appear to be being prudent with the cash reserves and unlike in the past having a new share issue anytime they felt the need for more cash.
It is also disappointing but at the same time reassuring that they aren't going down the pump/dump road with overexaggerated news stories (providing you take out 2500 by Dec 2017 etc) just to increase the SP and letting results speak for themselves. Only problem is that that particular strategy doesn't appear to be working.
I submitted 14 questions and 8 or 9 of them were answered which was about 4 more than I expected.
I'm convinced now more than ever that the value of these Q%As isn't so much the 'A's as the 'Q's that from todays answers are obviously discussed at board level.
Nedkellylandau
 
Posts: 1976
Joined: Mar 2013
Location: Lost on the Range

Re: Q&A

Post Tue Jul 03, 2018 6:37 pm

Yep got a few questions answered but the main aim was for Directors to know shareholder feelings and that aim was achieved
Due soon will be the expiry of the hundres of millions of options and then the 4th quarter figures and probably the 900bopd met target
Range ia still progressing and has been for over 12 months now
Much to look forward too
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Loadsamoney
 
Posts: 3474
Joined: Mar 2012

Re: Q&A

Post Tue Jul 03, 2018 10:42 pm

Serious question... What is the benefit of options expiring?

Looks like it's a waiting game for the umpteenth review of plans in tt
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Razzledazzle
 
Posts: 2244
Joined: May 2012

Re: Q&A

Post Tue Jul 03, 2018 11:50 pm

Less dilution raz had they been exercised. I know we have billions but they all mount up and another drag on sp lifted.

I think you knew this !
FUBAR@Birth
 
Posts: 928
Joined: Mar 2012

Re: Q&A

Post Wed Jul 04, 2018 7:26 am

"considering the most appropriate means to repay or
refinance amounts due to LandOcean during the current year."

this for me is again another shot across the bow that more dilution is on the horizon,

next little spike up and thats me out and the final end of my Range Journey,

Almost 9 years and 22k down the pan.... frustrating, but have learnt a hell of a lot reading this board. just unfortunately the hard way!


Best of luck for all who continue to hold.

TTD
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THETRANCEDUDE
 
Posts: 437
Joined: Feb 2013
Location: Dubai

Re: Q&A

Post Wed Jul 04, 2018 1:48 pm

There was never going to be any profound news in the Q&A as anything financially sensitive would have to come via an RNS but good to see that the answers were, where possible honest and direct with none of the historical BS that was so common in the past. The quarterlies are due at the end of this month, they should tell us a lot more than the Q&A could or did.
Celticheart07
 
Posts: 190
Joined: Jul 2013
Location: Wales

Re: Q&A

Post Thu Jul 05, 2018 9:30 am

Comical they are reviewing the work programme for 2018 in July after not have drilled once. I get the feeling we are in for another 'next year' spin story. Don't think the board will last though... Crazy by their own admission only 30 percent of LO debt is waterflood. How many millions did we spend for 0 production growth then??
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Razzledazzle
 
Posts: 2244
Joined: May 2012

Re: Q&A

Post Thu Jul 05, 2018 10:23 am

Razz
They were trying to outsource drilling days and clearly its not come off
Whulst you try and outsource, you underplay your own drilling programme. Niw they are reviewing again....in light of nothing material re outsourcing and also possibly to pick up extra bopd lost in marcelle waterflood not progressing as hoped.
I fail to see whatbelse they could have done. Please they underpromised in 1st place and now reviewing it and will keep doing so i suspect
So razz if youbwere md what wpuld you have decided as plans for 2018 ???
They have played it the only way they can and your moaning !
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Loadsamoney
 
Posts: 3474
Joined: Mar 2012

Re: Q&A

Post Fri Jul 06, 2018 8:47 am

It does sound like more share dilution this year by paying LandOcean back

What next!!
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Starhero
 
Posts: 515
Joined: Jul 2012

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