I'm satisfied in the sense that decent profits have been made....

I'm satisfied in the sense that decent profits have been made. I'm not satisfied at all with the BoD.

However, I live in hope that given how much potential oil there is to find, even our incompetent management team will be able to turn up something. Just like how someone might be terrible at football, but you'd still like to think they'd manage to score a goal from 2 yards out if they have an open net.

The hope is, with the licences and the potential we have, we won't need a good management team to make profit.

Things could be so much better with the right management however. There's a heavy discount applied to ouyr assets by the market because of a lack of confidence in the BoD.

There's a company in the UK called Desire Petroleum, who have drilled 4 dusters in a row, have no production or oil discoveries, and are drilling in a location where even if a discovery is made, putting it into production will take 5+ years (the falklands). In addition to this they burn through cash so quickly it makes PL look frugal! They have two more drills to complete, both with low chance of success figures, and if they fail the company is in deep, deep.

Yet they are currently valued with a market cap of 250 million pounds, while Range sit at 72 million. Why is this?

Probably because investors there have confidence those 2 final wells will actually be drilled, unlike anyone investing here who will take one look at the BoD's track record and conclude much of what they say is not likely to happen.