t&t lemon - what a bod smsf

~60K barrels of oil for the quarter:
+ 60K / 3 months = 20K per month
+ 20K / 30 days = ~666 bopd

T&T is an absolute lemon and going backwards hence the knee jerk reaction to merge IMO.

In the last quarter alone (from the quarterly released today):
+ 220K payment of director fees
+ 210K payment of corporate management fees

That is ~2 million per year expenses on director and corporate management fees a year alone at least which is separate to administration costs - what a BOD Self Managed Super Fund this is.

Further, there is ~5 million in cash now, and 8 million estimated cash flows this quarter - how is Range going to be a going concern with T&T still appearing to be going backwards?

There will need to be a capital raising to cover upcoming debts which look likely to soar - a reverse split (perhaps 50-1 would be good) and capital raising must be imminent.

What a complete circus!!!!