Riverfort Global Opportu... Share Discussion Threads

[m5] 14/9/2012 11:24

Amazing this, such a massive discount. Obviously they had to do it to get it away imho, but not a vote of confidence at this price. Lots of work to be done here to regain peoples trust in management.

[stevemarkus] 14/9/2012 10:13

Very disappointing that Neale Graham and Barry Sharples have done this. I thought they had more about them. And clearly the company is a little leaky, as the price had been dropping for a couple of days prior. Shame, as the company was initially very promising.

Cheers,
Steve.

[ltinvestor] 14/9/2012 08:54

ihavenoclue,..... in 30 years of investing cannot recall such a high discount.

[mark knopfler] 14/9/2012 08:46

What a disgraceful way of treating shareholders.

I wouldnt touch it with a bargepole.....ever.

[ihavenoclue] 14/9/2012 08:37

Itinvestor ... to me that is even worse IMHO Talk about lining your own pockets !!

[ltinvestor] 14/9/2012 08:26

WE should be grateful that this is a "growth strategy"!!At least the directors have put £700k of their money into this mess.

[27howard] 14/9/2012 08:24

Yes, I would be selling them right now for 20p :-))

[stegrego] 14/9/2012 08:24

This sits in one of the fastest growing sectors of any business, yet management continue to mess up.

Already incompetent and now greedy.

[snape] 14/9/2012 08:22

if you were issued shares at a 74% discounted wouldn't you be 'delighted'!

[snape] 14/9/2012 08:21

if you were issued shares at a 74% discount wouldn't you be 'delighted'!

[snatander] 14/9/2012 08:19

delighted they can milk it a while longer

[27howard] 14/9/2012 08:18

How can they say they are delighted, that just rubs things in far worse !

[snatander] 14/9/2012 07:21

Beat me to it! 10p ouch!
Probably open at 15p ??

[stegrego] 14/9/2012 07:08

Did I just read that right?????!! These really are a shower.


The Placing Price and the Subscription Price are each at a discount of 74.03 per cent. to the closing middle market price of 38.5 pence per Ordinary Share on 13 September 2012, the latest date prior to this Announcement.  


10p a share!!!!!

[count chris] 13/9/2012 09:45

Terminals beginning to appear in Mablethorpe & Skegness. Have seen one but not had the opportunity to use one yet.

[casholaa] 11/9/2012 17:35

mine's fine

[roily] 11/9/2012 12:47

test- just making sure I am me again:)

[ih_196852] 11/9/2012 12:44

Has anyone else had their nickname randomly changed???

Roily

[ih_196852] 11/9/2012 12:43

A couple of post from SH:

I've spoken to Mr. Phil Arundel (Executive Vice President of Operations) at New Age (African Global Energy) Limited and he confirmed that the drilling finished and that they now are evaluating the results from the Khalakan Block. However they will probably not release any info about their conclusions this year, which means that Range Energy Resources shareholders will have to wait. This decision, to not make the results public, has been taken in consensus with the KRG (Kurdistan Regional Government).

Also, Mr. Phil Arundel said that they already decided where to start the second drilling and that they will do so this year.

GLTA / Bubo

_______________________________________________________________________________

Last evening (European Time) I spoke with Michelle Upton (Crest Investment) over the phone. For now, I feel assured that they are doing what they can regarding the situation with New Age (African Global Energy) Ldt, and the fact that New Age aren't to willing to share the results from the drilling.

You have to bear in mind that Michelle Upton / Range Energy Resources are bound by CNSX regulations and cannot therefore put forward any information that isn't based on hard facts (written and signed documents).

Since New Age are a private company they don't necessarily have any obligations to share any information, unless forced to. Hence the arbitration.

What their reason could be for not sharing... economic? or maybe political? who knows?

The Kurdistan Regional Government is informed and have, to my knowledge, sanctioned that the lid is on, for now. However, with Crests' investment in WesternZagros and their participation as one of twelve founding board members of the United States-Kurdistan Business Council ("USKBC"), the KRG can't ignore them. It ought to carry some weight.

Remember, it's not a question If New Age will share the drilling results, but When.

If we'll have to wait until next year before an update, the second drilling will probably be finished, and the odds that there is oil in the ground will be even greater.

I like the potential in Range Energy Resources. Time is not an issue to me, but if it is to you... You should not invest in this company.

And as I've written so many times before... Do not gamble with money you can't afford to loose. Range Energy Resources is a gamble!

Please read my earlier posts for full understanding.

GLTA / Bubo

[roily] 05/9/2012 13:06

Not really new news and I have said all along that it is tough to invest in a company that keeps its investors in the dark. It is even tougher to invest in a company that is operating in the dark.

[roily] 05/9/2012 13:06

Not really new news and I have said all along that it is tough to invest in a company that keeps its investors in the dark. It is even tougher to invest in a company that is operating in the dark.

[jonno1] 03/9/2012 09:22

Wow, that really inspires confidence !

[roily] 02/9/2012 23:36

August 30, 2012

NEWS RELEASE

CORPORATE UPDATE

Vancouver, BC, Canada – During the course of the last couple of quarters the management and board of Range Energy Resources Inc. (the "Company")(CNSX: RGO) (FWB:YGK) have spent considerable time and effort to gain intelligence on the activity of the operator of the Khalakan Block in Kurdistan. Range holds an indirect 24.95% interest in the Khalakan Block.

The operator of the Khalakan Block is New Age (Africa Global Energy) Limited ("New Age"). Range does not have a direct contractual relationship with New Age. Instead, Range's rights in the Khalakan Block are through its minority equity holding in New Age Al Zarooni 2 Limited ("NAAZ2"). NAAZ2 in turn owns 50% of the equity interests in Gas Plus Khalakan Limited ("GPK"), which holds the interest in the Khalakan Block through a Production Sharing Contract. Neither NAAZ2 nor the joint venture partner that controls NAAZ2 has released to Range information about the Khalakan Block that Range considers it is entitled to under the law and the relevant agreements. Range has therefore commenced an arbitration proceeding against NAAZ2 and its joint venture partner in London under the Arbitration Rules of the International Chamber of Commerce to force disclosure of that information, although it anticipates that the process may not be resolved until sometime in 2013.

Not satisfied with the status quo, we have employed other public sources to ascertain the progress of the well New Age is drilling in the Khalakan Block. We are pleased to report that all ancillary evidence we have gathered indicates that the first well in the Khalakan Block was spudded this past spring and is approaching completion if not completed as of this date. Public information on the Khalakan Block can be found using the following sources. Although Range believes this information to be reliable, it cannot guarantee its accuracy:

Kerogen Announces $125 million Investment in NewAge (African Global Energy) Limited [ ]

Kurdistan and Northern Iraq Operator Activity Map – May 30, 2012 [

New Age (African Global Energy) Limited – Preliminary long form prospectus (search for New Age using SEDAR submission form) [

We are unsatisfied with the deficient knowledge we have regarding the Khalakan Block, and Range will continue to exercise what rights it has in an effort to gain this knowledge. Despite these difficulties, Range continues to meet all relevant obligations under the NAAZ2 shareholding arrangements related to the Khalakan Block.

Range's management continues to believe in the promise of the Khalakan Block and, based on recent activity there by other investors,[1] in Kurdistan's oil and gas sector generally. We will continue to seek the capital that Range requires to meet all of its future obligations with respect to the Khalakan Block, and we will pursue other synergistic opportunities that may arise.

For further information on Range Energy Resources Inc., please visit the Company's web site at www.rangeenergyresources.com.

On behalf of the Board of Directors:

Toufic Chahine
Chairman
Tel: [phone]
Fax: [phone]
Email: [e-mail]