|Good news over at LGO... Never understood why RRL didn't make a move for them. They were ripe for picking...|
82% CFD Have lost money.
New rules to help protect investors using financial spread betting - in which 82% have lost money - have been proposed by the financial watchdog.
The Financial Conduct Authority wants to tackle the "contract for difference" (CFD) market, which includes financial spread betting.
It fears that retail customers are using products they do not understand.
The CFD market offers the opportunity to speculate on a shift in the market without owning the underlying asset.
The FCA is proposing measures to limit the risks of CFD products and ensure that customers are better informed.
"We have serious concerns that an increasing number of retail clients are trading in CFD products without an adequate understanding of the risks involved, and as a result can incur rapid, large and unexpected losses," said Christopher Woolard, the FCA's executive director of strategy and competition.
Image copyright AFP/Getty Images
Image caption Plus 500 are one of Atletico Madrid's sponsors
Simon Gompertz, BBC personal finance correspondent
Some 125,000 small investors are active in betting on movements in shares and currencies rather than buying the underlying investment.
Spread betting firms are relentless in recruiting them, by blazoning their brands on football shirts, on public transport and in free newspapers.
The internet has made dealing and advertising much easier. The companies pay to feature prominently on internet search engines and advertise on social media.
A handful of players dominate in the UK, but 96 are authorised and another 130 promote their online trading from elsewhere in Europe, mostly from Cyprus.
Losses can be instantaneous, with little chance of recovery, because they allow people to take big risks with small stakes.
It means that a small movement in the price of shares can result in the security deposit an investor has put up - the margin - being wiped out.
These complex investments are often sold to ordinary investors online. The potential losses or gains can be much larger than from traditional trading as an investor can hold a trading position representing a much higher value than the size of the stake invested.
The FCA's analysis found that 82% of clients lost money on such products. The average among clients checked by the watchdog was a loss of £2,200 a year.
Its plans include:
Standardised risk warnings given to customers
Proportion of winners and losers on products published by providers
Capping the proportion of "borrowed" funds that can be used for trading by inexperienced retail clients
Preventing providers from using any form of trading or account opening bonuses or benefits to promote CFD products
Consultation on the plans is open until March, with a further statement expected from the FCA in the spring.
Shares in firms offering these services were hit hard following the announcement.
CMC Markets and IG Group were the biggest fallers on the FTSE 250, both down about 30% in morning trading.
Plus 500, which also saw its share price fall, said the FCA's plans would have "a material, operational and financial impact on the UK regulated subsidiary". This represents about 20% of its global business.
IG Group said that it recognised there were "shortcomings in the approach to the marketing of CFDs" by certain firms, often operating from outside the UK.
"Certain of the FCA proposals could enhance client outcomes," it added. "However, the FCA's proposals do not appear to directly apply to firms operating from outside the UK offering CFDs and binaries to clients in the UK on a cross-border services passport from another EU member state.
"IG will carefully consider the implications of the FCA consultation paper."
CMC said it had consistently focused on higher-value experienced premium clients who understood the markets and products they were trading.|
|Good news? Let's just say it was news! Unless it translates to bopd, it's meaningless.
The last few drills have been very disappointing in terms of contribution to daily production. At circa 500-600 bopd, this company won't last long. They need to be hitting the 1000 VERY quickly and then rapidly onto their own target of 2,500 bopd in 12 months to have any hope of survival.
|Surprised these fell today, that looked like good news to me imho dyor|
|Sorry guys the drill must have been renamed the QUN160. Good to see they are mindful of costs and not drilling ahead for no gain. Still expecting bpd as per above with now the unknown of the new deep drill spudded. A pleasant surprise, for Range, to see a drill complete as planned,on time,incident free and within budget. Let,s hope the new deep drill comes up with some good news before year end.
Have a great week rangers.|
|Well that's 3 weeks gone for the latest drill qun158r so should be nearing target depth. Announcement due any day. Looking for an average 30-50 bpd but they may use the initial higher flows to cheer up shareholders.|
|All eyes on the OPEC meeting tomorrow. If they don't agree to cut production, oil will drop to below $40.|
|Very volatile at minute up and down everyday|
|Look at the presentation! Petrotrin have signed the agreement for 3,000 bwd and we are just waiting to complete the pipeline.|
|Good company presentation. Would have preferred to see timeline with production increasing.|
|He is a non-exec, so I'm not too worried that he has resigned. The timing also makes sense; I mean, why get re-elected if you have no desire to continue serving on the board?
I'm not expecting much from the AGM. They'll just recycle the same dirge they've been coming out with for the past few months.
They have much to deliver and the longer it takes, the less I'm convinced that they'll do it. My biggest concern is the lack of any progress on signing the re-use water deal with Petrotrin. I think Petrotrin have backed out of the deal and without it, RRL are dead in the water (excuse the pun). They've been negotiating for almost a year and have been "close to completion" for the past six months! How long does it take to sign a contract to buy used water that no one else wants?
I still have faith (just about) that they'll deliver but patience is wearing thin...
Why does the guy throw the towel in just before the AGM where his relection was to be voted on and hence not allowing time for the company to come up with a successor? Reckon either he is aware of not meeting any of the targets he was employed to get to hence he was was not going to be relected or he knows of worse things to come and is off before it hits the fan. At least us punters know as of September last year he had over 18 million shares at 0.8p and above so must be hurting along with other shareholders. Only now he doesn't need to declare if dumping those shares.
Any bets on agm statement?
I reckon it will be jam and more jam and more jam. Oh and flannel about shareholder value.
Have a good one guys.|
|If anyone can think of anything else, please feel free to add to this list.
24/11/2016 - Another Director falls on his sword!!!! FFS|
|Nice rise Monday maybe some good news before the AGM on Friday would be nice|
|Nas, you know very well that this is a very different company to RRL of 6 years ago. As for LO, we've covered this before, without them we'd be bust anyway, so let's not bite the hand that feeds us...
I thought it might be worthwhile summarising all the bits of news that we're waiting on. This list is by no means comprehensive, I only picked out the relevant dates from the last quarterly report:
Q1, 2017 – First WF production from South East block
Q4, 2016 – 3000 bwpd deal with Petrotrin
Q4, 2016 – First WF production from Morne Diablo
Q4, 2016 – QUN160 and GY218SE Spud (Now completed)
Q1, 2017 – Canary North Spud
This is over and above anything that we don’t have dates for. E.g. Colombia, Water pipeline etc.
If anyone can think of anything else, please feel free to add to this list.
|I haven't seen any progress just more promises for next year, which they've promised since 2010 and never hit a target.On the other hand their backers, LO, are doing very nicely at the expense of Range shareholders so all isn't too bad :-)|
|I bought in here a while back but despite decent progress the price continues to fall almost daily, chart looks dreadful, I thought those days were over.
If it looks ok why the continual selling or am I missing the obvious|
Just in case you missed it - https://www.youtube.com/watch?v=vr9BNtwu3LY
What with that 158r well now spudded and the other last development well for this year also just awaiting approval to go ahead will we get a good update on the pending waterflood flows due early next quarter to back up Zak's charting predictions?
Certainly hope so.|
|Looks to me that they are waiting for higher oil prices? - If they have to spend to get it out (waterflood) then waiting until the market returns can make sense. - Leaving it in the ground short term can stack up but the clock is ticking!|
|All very good points and a valid question.
My frustration with RRL is that everything seems to take an age to do. The new rigs have been in Trinidad for over two years and are only just now getting permits. This "sideways" drill has taken months to complete, the deal to buy water from Petrotrin is seemingly getting further and further from happening, the permit for the last 500 metres of the new water pipeline is buried deep in bureaucracy, there is no update on the latest well that's been producing water and the Colombia issue seems to have been buried for now but likely to raise its ugly ahead at any time.
Management need to stop faffing about, pull their finger out and start delivering on their promises.
Patience running very thin at the mo...
AIMHO. DYOR blah blah blah...|
|As usual the full facts were not given to shareholders. We were originally told in the update of June 2015 (http://uk.advfn.com/stock-market/london/range-resources-RRL/share-news/Range-Resources-Limited-Trinidad-Development-Updat/67088652) it would take at least a month to fully investigate what the incident was with the 158 well. A year and a half later and we were not told what exactly happened. At least it did get to target and had apparently good oil and gas shows with the adjacent well only 200ft away , at one time , producing 120bpd.Looking forward to another spike when they surely again will announce good oil and gas shows but what will the flows be?|
|Well, well, well!
Or in this case well, the fourth of the five programmed this year, which is hopefully going to spud more successfully than the others upon hitting target depth in three weeks time.
The travelling with optimism rise in share price is to be expected. Given the money and effort expended at these sites by Range and Land Ocean we have to think they anticipate making a significant - for us and Trinidad - discovery some time.
The bigger final spud with the 2,000m rig is then to come in December with the same prognosis and expectation that bopd can push up towards 1,000 a day in early 2017 as management have intimated.
With Trump elected the commodity prices and growth prospects going forward are better in the eyes of many and so we can look to better oil prices too. The price is rising equally in line with the old maxim it is often better to travel than arrive...
Sometimes though the arrival is well worth it. Positive optimism can be rewarded - at least that's why I'm invested here. Good luck Range and all longs.
|Nice move up today|
|Well we should be getting news soon re the spudding of the last 2 development wells this year.QUN158R and GY218SE. We might just get another.................50bpd for Xmas.Obviously praying for more but Range doesn't do decent finds so trying to be realistic.
Have a great week guys no matter what the U.S. panto comes up with.|