Malcy has a pragmatic view on the subscription: Range has...

Malcy has a pragmatic view on the subscription:

Range has announced a £1m subscription at 0.11p as they continue to accelerate growth strategy in the company’s assets in Trinidad. The money will mean increased production and thus cash flow and will hopefully mean that ambitious targets will be met. Whilst it is not ideal to raise money at such a discount I understand that it is important to continue investing in the waterflood at Beach Marcelle and ultimately to drill more wells. It really is a question of short term pain for long term gain and sometimes these tricky decisions have to be taken .