And oil's up a lot. A few multiples in this eventually IMO

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bevter

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24/04/18

09:15

Post #: 32646085
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Originally posted by Empty ↑

Really happy with their steady delivery to promise. Step by step.

QUARTERLY ACTIVITIES REPORT Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield services business in Trinidad, provides its quarterly activities report for the period ended 31 March 2018 (Q3 FY18). Key highlights: Trinidad • Average production of 731 bopd, an increase of 16% from the previous quarter; • Third consecutive quarter of significant growth in production achieved in Trinidad operations; • Additional water storage facilities installed at the Beach Marcelle field; • 57 workovers completed; • Oilfield services business awarded new contract with Shell. Operations successfully completed during April 2018; Indonesia • Two offices established and management team in place; • Preparations to commence field operations are underway; • The rig is expected to be mobilized to site during the current quarter; Corporate • Trinidad operations demonstrated positive operating cashflow from activities during the quarter of US$0.8 million (equivalent to US$12 per barrel of production); • Strong cash and liquid assets position of US$9.5 million; • Chief Operating Officer and Trinidad General Manager appointed; • Legacy issue with Colombia successfully resolved (subsequent to the quarter end); Outlook • The Company will continue its work programme in Trinidad with production target of 800 bopd during the current quarter and 1,000 bopd prior to the end of 2018 (calendar year); • Field operations expected to commence in Indonesia, targeting first production in mid-2018 (calendar year); • It is expected that the planned well reopening and workovers in Indonesia could add up to 200 bopd of production (gross);

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And oil's up a lot. A few multiples in this eventually IMO

RRS Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
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