and this from Malcy's blog today: More good news from Range...

and this from Malcy's blog today:

More good news from Range today and I am really impressed with how the company appears to be progressing after some difficult times recently. The quarterly report updates on production, drilling, strategy and the cash position, all of which are positive. On the production side the first quarter was in line at 551 bop/d net to the company but more importantly they renewed the guidance of 2,500 bop/d by the end of 2017 which if achieved would be a meaningful step in the right direction. This year the company will drill four ‘material’ development wells and one high impact exploration well, these wells and the work on the water-floods are of highest priority as production is expected in 2H 2016 at Morne Diablo and Q4 2016 for Beach Marcelle. The cash number is $21.6m and with minimal cash outflow in the quarter is broadly neutral which is good. Range is building slowly but strongly and probably far better than the market might have expected and despite the significant rise in the share price so far this year there could still be much to go for.