Range Resources Share Discussion Threads

[rangenoresources] 18/1/2019 08:27

ASEYHO - Celtic will not get into a discussed as he would have to admit to lying and ramping the share.I have questions for him1. Why did he post an unfounded rumour about merger/takeover and not retract it after Range release a RNS?2. Why did he lie about the reasons for the rise?3. Why does he not criticise his pals multi posting?4. Does he really think his CPS threats will stop posters from posting?5. Will he admit he has called Range wrong and those negative about Range have called it right or does his ego stop him?

[nas_daq] 18/1/2019 08:23

Your idea of reasonable conversation is deluded, your very first post was ridiculous, you can only see it from one side of rampsville and for the umpteenth time I don’t use another user name on here unlike your good friend lewisytroll.
Obviously you are aware that some other people are using multi ids and as per usual assume everyone is doing what you and Lewis are doing.
However putting those issues aside unsecured debt is still debt and if range have assets, which they do, then those assets can be paid in lies of default which range will also do.
Sensible discussion is not going to happen whilst you have your head up your ar*e, so get over

[celticheart07] 18/1/2019 08:17

See what happens ASEYHO when I try and start a reasonable discussion and no I am not going to engage with this poster in any of his guises.

[nas_daq] 18/1/2019 08:13

THINGS ARE A WHOLE LOT WORSE WHEN THIS JOURNALIST WROTE THIS

Those who have been around the AIM market for a while will probably remember a company called Range Resources (RRL), and its infamous CEO Peter Landau.
It was tipped by some to be the next big thing on AIM in the resources sector, but the reality proved to be a long way from all the expectation, with the share price plummeting from a high and a lot of questions being asked about the way that Landau had been running the company and the many promises that he had made via RNSs, many of which turned out to be false.
A fair bit has changed since the company eventually ended up delisting from AIM, but now it is back, and I suspect that is largely down to the amount of debt that it currently has and the fact that it is probably going to have to raise money via equity funding in the future.
Currently the company has producing assets in Trinidad and licences in Indonesia, where it holds a 23% working interest in the Perlak field, rising to 42% once it has completed a work programme, which includes 3D seismics plus well workovers.
In Trinidad it owns 100% of the Morne Diablo, Beach Marcelle and South Quarry licences, along with 80% in St Mary’s, and a further 80% of Guayaguayare Deep and 65% of Guayaguayare Shallow – although the production sharing contracts at the latter two have expired and the company is awaiting government approvals on new ones.
The problem for the company has always been that it has been unable to drill shallow wells with low levels of production fast enough to outweigh depletion. Judging by the most recent production report for the three months up until the end of June not a lot had changed in that regard, with average daily production of 531bopd, down from 567bopd during the previous quarter. During the quarter the cash position of the company had also reduced by $2.4 million.
This left the company with $17.5 million in the bank at that time, and since then it has announced a deal with Land Ocean to purchase Range Resources Drilling Services for $5.5 million – payable within three years and with annual interest of 6%. As part of the deal Land Ocean also agreed to reduce interest payments on the outstanding balance due to it of $39 million (including the $20 million convertible note which was issued back in February) from 10% to 6%.
The biggest problem here is that although changes have been made, the company has still been running at a significant loss – the last set of financials, the interims up until the end of 2016, showed that the company had made a loss of around $9 million in six months, ignoring a large impairment charge.
The last quarterly update, up to the end of June 2017 showed an improvement, with net cash inflows of just over $1 million, ignoring loan repayments of nearly $3.6 million, but given the size of the debt, plus the likely cost of work programmes – during that quarter the company spent just $230,000 on exploration and development, as compared to nearly $2.6 million for the full year – it is hard to see it making a net profit any time soon.
It has since spent $3.2 million on the Perlak field acquisition, and although that has reserves and resources for oil-in-place of up to 500 million barrels, this is a field which has been producing since the 1940s and it will be interesting to see how good the economics are once a field development plan is put in place. Often there is a good reason why many of these old fields subsequently stopped producing and are often sold at a price which appears to be cheap.
It also purchased several offshore blocks in Trinidad from Trinity Exploration (TRIN) for $4.55 million. These include 2P reserves of 2.6mmbbls and daily production of around 200bopd, taking Range’s total to circa 800bopd. Given the problems that Trinity has had making these assets profitable for the company on a net basis in the past, it will be interesting to see how Range Resources fares with them.
At the moment the company still has plenty of cash in the bank – especially with the some of the payments associated with these acquisitions being deferred – but I’m not convinced that the company is going to become profitable enough to meet its debts which fall due in April 2020, as well as carrying out all the work that it is proposing, even with the higher oil prices.
Given that Land Ocean has just entered into a factoring agreement which means that the debt owed by Range has been passed on to Huayuan and Sichuan XW Bank, it may well be the case that Land Ocean won’t be looking to extend the $39 million odd debt past maturity.
It may look attractive at a current market cap of around £19 million at a share price of 0.3p to buy, given that it is producing oil, but I certainly wouldn’t be rushing to buy the shares and still see it as a company to avoid, especially given the involvement of a number of Chinese companies.

[nas_daq] 18/1/2019 08:12

Seriously stick to fakebook boasting then trying to make out you know what you are doing in an effort to saved your impending relationship failure when you are kicked out for gambling behind your partners bsck....

[nas_daq] 18/1/2019 08:09

We have a high level of unsecured debt but we are also cash generative and have seriously reduced our overheads in recent years as well as the spread of the business.

STOP LYING IF THEY WERE CASH GENERATIVE HOW COME THEIR CASH HAS DROPPED FROM 17M TO 3.3M INCLUDING PROCEEDS OFA PLACING TO RAISE 1M .......YOU IDIOT
THEY CANNOT PAY THEIR ONGOING COSTS HENCE 20% DILUTION NEXT MONTH

[nas_daq] 18/1/2019 08:06

Celticheart0718 Jan '19 - 08:05 - 15773 of 15773
0 0 0
Bore Da Lewis, as I said yesterday one thing seems clear, this could rise very quickly indeed on real news. Yesterday's rise shows that there are a lot of people prepared to take a punt at these levels. When I see speculative hi risk explorers with a market cap many times higher than Range, a producing oiler with its own drilling fleet, something is not right. We have a high level of unsecured debt but we are also cash generative and have seriously reduced our overheads in recent years as well as the spread of the business. Petrotrin is about to re-invent itself as Heritage Oil which will remove the constraint of how much oil they can take as this was previously limited by a very limited refinery. Some will no doubt read this as ramping, it isn't, just contemplation.


AND NONE OF THOSE HAVE DEBTS GREATER THAN THEUR MAIN ASSET

[celticheart07] 18/1/2019 08:05

Bore Da Lewis, as I said yesterday one thing seems clear, this could rise very quickly indeed on real news. Yesterday's rise shows that there are a lot of people prepared to take a punt at these levels. When I see speculative hi risk explorers with a market cap many times higher than Range, a producing oiler with its own drilling fleet, something is not right. We have a high level of unsecured debt but we are also cash generative and have seriously reduced our overheads in recent years as well as the spread of the business. Petrotrin is about to re-invent itself as Heritage Oil which will remove the constraint of how much oil they can take as this was previously limited by a very limited refinery. Some will no doubt read this as ramping, it isn't, just contemplation.

[rangenoresources] 18/1/2019 06:52

I see the Aussies didn't fall for the Pump & DumpShare price unchanged on ASXWill be a red day on AIM today

[lewisyfawr] 17/1/2019 23:41

Yes, agree it might be good for both parties, CH.

Ron - get a life, and leave us to ours. You may not approve, but its hundreds of times better than yours. You are a sad loner eking out your benefits and lauding Tommeee Robinson. You really deserve him and all your so-called friends. Who everyone knows is you talking to yourself. We are all laughing at you. Only you take yourself seriously.

[aseyho] 17/1/2019 20:18

"think you left the L off again"

Zingggg.

[aseyho] 17/1/2019 20:17

It was just strange I had just literally seen a mocking post and then I read him say there were no mocking posts. Probably blocked the poster would explain it.

[nas_daq] 17/1/2019 20:07

Aseyho

Luckily with Celtichearts huge iQ and ego of course witty comments, like the one you highlighted, are above his intellect

[celticheart07] 17/1/2019 20:04

I think you left the L off again

[aseyho] 17/1/2019 20:00

”Sorry but our Welsh sheepies should give up and stick to Premium Bonds & fixed interest savings accounts!!!!!!
How on earth can you be cheering a 20% manufactured increase (with a few traders mugging even more mugs), when you are still over 99% down on your "investments" (for that read "lost funds")!!!!
Your false optimism is either desperation or you have all lost the plot."

That seems pretty mocking but what do I know.

[celticheart07] 17/1/2019 19:53

I would like to see some of the supposed mocking comments from WS, can't say I have seen any so far, some comments yes but no personal attacks which makes a change from here.

[nas_daq] 17/1/2019 19:43

Skin

Let’s hope so for his partner’s sake.

Rnr

The comments on WS are hilarious. You know you are truly despised when even fellow shareholders mock your ramping

🤣🤣🤣

[skinwalker] 17/1/2019 19:37

Underestimate celticheart at your peril my friends. He is a very shrewd investor. Wouldn't surprise me if he tucked a few more away today when the share price was 0.065.