RRS 0.00% 0.1¢ range resources limited

risked value of range, page-22

  1. 478 Posts.
    Old Park Lane had a valuation of 14.1p I believe, but all these broker reports are several months old now.

    Crucially, the Edison report assumed an 8% CoS for Georgia. However with the recent helium survey, that has been much increased (AGI quote 80% success rates on their website, and have been used by big oil players in Eastern Europe such as Gazprom and Rosneft).

    The report was also made prior to the securing of funds via the equity drawdown, and prior to the PSA extension with AOI committing to 2 wells.

    Furthermore oil was at $80 a barrel when the reports were made- now it's at $110.

    The main thing is the derisking of the area because of the helium survey though. That's vastly increased the CoS and with data from previous drills, we can be confident of at least 1 good result over the initial 2 well campaign, IMO.
 
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