Not sure about the gas, but the oil figures aren't great tbh. 4960 barrels of condensate= 165bopd a day. That's still quite some distance from the 320bopd target at the start of fracking these wells.
It doesn't matter hugely- what really matters is proving up the area so we can sell it- but it aint really a 'strong month'.
We're getting 80bopd attributable to Range from those 2 wells combined. Even at a profit of $30 a barrel, that's still only $864,000 over the course of a year. Texas isn't going to make anyone rich anytime soon.
Hopefully the asset will be sold next year and the money used to get drilling Trinidad, where we have a 100% stake.
RRS Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
