doom and boom

Excellent informative post by Kevyork on W.S.

Re: Doom and Boom
24 May 2012, 08:34

Bloody hell what's with the manic depressive society ATM. Markets are in turmoil, a at best ambiguous and misleading RNS from AOI.................in no way connected to the cut price private placing NOT! Where do you expect the share price to be £1 get a grip and look at what we've got and if you can add further at these prices add. As for the ones think there's a conspiracy of pumping and dumping I'll assure you I ain't part of it as you can see by these badly timed top ups http://screencast.com/t/0X6txrWNL http://screencast.com/t/6mieiV0l8NQh http://screencast.com/t/BrQGO32Tax

Am I crying about it like hell I am because long term this company is worth many many multiples of the current share price, get a grip and look at what we've got.

Texas valuation and its out of date another 50% to be added here after the last drills http://www.rangeresources.com.au/filead ... d_copy.pdf now if this goes to a share buy back capital return or company running costs is immaterial after the sale its still going to be $50mill plus to the company.

Georgia yes its gone Tits up last year but we now have someone to run and manage the whole process out there taking our management out of the equation. Even on a sale prior to drilling its worth a chunk with all the additional seismic's, but with the clever plan to initially drill three quick shallow wells and a ready buyer for the off take there's added value there.

Puntland now a proven Active HC basin in Dharoor so again the sale value is already increased, but ask yourself what do the "PRIVATE" investors know that you don't to make them part with there cash?

Nugal the big brother of Dharoor look at the declassification documents Conoco all but declared a Oil strike and there studies where estimating production of 100k bopd from the area.

Offshore Nugal its the same rift as can be seen here http://screencast.com/t/E9XtDD8POnCl and the basin beyond has deep sediments that are believed to be from the Arabian region prior to the formation of the gulf. The sediments in this North Somali basin are exceptionally thick (in excess of 2km) due to them being confined by the chain ridge. http://screencast.com/t/8E94uLbzpTn

Colombia 3 billion OIP figure to be increased after further seismic's not only that a prior Oil discovery well on the block that will be redrilled the oil has gone nowhere since the 70's when the 20-30 dollar oil price and then no pipelines made un-economic. Wells in the area produce approx 3-4k bopd, better yet its one of the lowest Tax and Royalty oil provinces in the world now has a pipeline infrastructure close to the fields and a contractual agreement from the Colombian Government to take production at market rates.

Trinidad the crown jewel in the portfolio 100% ours and at present each 1k bopd is worth $12mill per annum this will increase as economies of scale kick in. Forget abot PL's figures as you don't trust them anyway.

Shallows (up to 3000ft) we have three shallow drilling rigs operating now. Just to keep things conservative we'll discount one rig and work the numbers on only two of them. So in 12 month from now at two weeks a drill that's 48 new wells with only 2/3 of the shallow drill fleet. We'll go the lowest of bopd estimates 50bopd many wells are coming in over 100bopd so in 12 months we can expect a conservative 2400bopd from the shallows.

Intermediate drills a bit deeper so to be even more conservative and discount 50% of the fleet of two rigs. So 1 rig drilling one well per month again using the lowest estimated bopd figure of 150 bopd will add another 1800bopd (4200bopd total)

Hererra's we've a second deep rig as mentioned in the Christmas presentation so again basing on only one rig. Super generous on time and allow them 4 months per drill. (Our blocks are on trend and only 4km from a producing Hererra drill so i'm assuming strikes) the closest one is producing just shy of 1500bopd but again discount this down to 1k bopd and three wells in 12 months is adding another 3k bopd (approx 7200bopd) add to this current production of approx 800bopd gives us in 12 months a conservative 8k bopd@ $12mill clear profit per 1k bopd per annum. So annual profits of $96mill.

The above is all without the UC which is thought to be larger than the Hererra's, water recovery (figures in the presentation) what's not in the presentation is the fact a trial field is already in pressure build up mode (this can be verified in some of the TT photo's) additional profits due to economies of scale as production ramps up and the Tax Royalty discounts the Trinidad Government are willing to give for all Oil produced by enhanced recovery methods.

Further to all this we have cash in the bank, debt deal all but finalised, interest paying loan to CC and a equity stake in Tangiers.

Now for fooks sake stop the whinging and moaning, shares like this are not a get rich quick money making scam but a investment of cash and time. (It'll be a lot of years before you get another one like Range though at this price if there ever is another one)..........In Range its as good as your own personal ATM if your willing to let the BOD do there job.

Right Rant over flame away.

Kev
kev yorks

Posts: 253
Joined: Mar 2012
Location: Yorkshire