Most posters on this RRS forum seem to be non holders who in my opinion love spruiking about the negatives (and there are plenty), & would enjoy seeing Range fold.Please correct me if I am wrong.
Well I am a large holder & have a vested interest in seeing this company survive. If they don't I may just die working & retirement will be a fantasy.
Todays letter & Q&A at least places a little positivity on the situation.
David Chen:"we have positive operating cashflows across the Group; we have successfully embarked on drilling campaigns on our three producing oilfields in Trinidad, which has already resulted in robust growth in production from the average of 500 bopd in December 2014 to 650 bopd in May 2015; and we continue to grow and expand our operational activities."
Positive cashflows helped by RRDS sale but so what? Still cash in bank.
David also hold many Range shares. I don't believe he would want to see Range become insolvent.
Core capital did not come through but there are many finance options for small cap oilers currently due to PoO increase. SWE, WHL got finance deals from Magna in a short time frame. Not ideal for Range but better to be alive than insolvent.
Maybe a new book is just about to open, Range with oil flowing, operating profitably, repaying debts & with sustained growth............Maybe, just maybe?
Cheers to all long suffering holders!
Most posters on this RRS forum seem to be non holders who in my...
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