Range Resources Share Discussion Threads

[steelwatch] 14/4/2010 23:24

Mingle - AOI is only quoted on the Toronto Stock Exchange with added currency risk. I guess most prefer to deal in UK quoted stocks. Also, AOI is entirely focused on East Africa, whereas Range has operations on three continents.

[mingle3] 14/4/2010 19:47

Why is RRL a better investment than AOI??? would love peoples views. thanks

[monkey puzzle] 14/4/2010 16:56

Dawsonpaul,

Can you add that link to the header?

[captainnelsonforties] 14/4/2010 15:46

Hi MP,

Yes that looks like its the right spot alright, that would be useful to put into the header for a regular check.

Captain Nelson Forties

[monkey puzzle] 14/4/2010 15:33

The above is for Chapman/Crest etc.....the one below is just for the County of Nueces only......


Query Path: Search Criteria > County NUECES

Monthly Totals, Jan 2009 - Feb 2010

Date Oil (BBL) Casinghead (MCF) GW Gas (MCF) Condensate (BBL)
Jan 2009 40,489 115,222 2,837,514 45,465
Feb 2009 33,212 101,322 2,361,943 41,771
Mar 2009 32,641 112,387 2,457,870 41,693
Apr 2009 31,061 102,075 2,319,057 41,046
May 2009 34,020 66,398 1,984,809 39,738
Jun 2009 37,502 99,302 2,486,877 45,423
Jul 2009 44,207 106,009 2,513,337 49,225
Aug 2009 47,281 106,572 2,537,260 45,706
Sep 2009 45,289 75,064 1,908,048 42,905
Oct 2009 49,122 131,108 2,489,553 45,603
Nov 2009 45,915 130,669 2,251,764 41,184
Dec 2009 42,386 128,583 2,247,252 43,011
Jan 2010 37,479 103,246 2,234,568 45,787
Feb 2010 0 0 0 0
Total 520,604 1,377,957 30,629,852 568,557

[monkey puzzle] 14/4/2010 15:28

CNF,

I found this website today which I beleive is the Texas main oil production records office...I keyed in some relevant data and got this by return...yes I realise it is all zeros and too early to be useful right now but for future reference maybe???


Query Path: Search Criteria
> County: NUECES
> Operator: CREST RESOURCES, INC.
> Field: CHAPMAN RANCH


View by: Monthly Totals Annual Totals Lease District

Field Name: CHAPMAN RANCH, Field No: 17075001

Operator Name: CREST RESOURCES, INC., Operator No: 189901

County Name: NUECES

County Statewide Onshore

Monthly Totals, Jan 2009 - Feb 2010

Date Oil (BBL) Casinghead (MCF) GW Gas (MCF) Condensate (BBL)
Jan 2009 0 0 1,148 0
Feb 2009 0 0 2,956 0
Mar 2009 0 0 687 0
Apr 2009 0 0 1,182 0
May 2009 0 0 241 0
Jun 2009 0 0 939 0
Jul 2009 0 0 1,009 0
Aug 2009 0 0 583 0
Sep 2009 0 0 0 0
Oct 2009 0 0 0 0
Nov 2009 0 0 0 0
Dec 2009 0 0 466 0
Jan 2010 0 0 1,694 0
Feb 2010 0 0 0 0
Total 0 0 10,905

Here is the link which I think we could maybe add to the header?

[wardy3] 14/4/2010 14:09

A lot lower volume today people settling in and staying put until some good news arrives, cannot be far away.

Still a fair way above the placing price @2.9p , and still tempting some to take profits, however the bigger picture says stay in at least for this year.

[sparty1] 14/4/2010 11:41

Ta for that ,I tend to agree and will continue to accumulate.

[sparty1] 14/4/2010 11:21

Captain Nelson Forties...would you agree that the recent agreement



Has significantly de-risked the investment,already on a low base.And that the de-risk has not been acknowleged in the current sp? Below the Radar possibly because there are a few bigger profile oilies out there.(not necessarily successful)
I also feel the agreement may change the timetable a little,and concentrate minds.

[twissso] 14/4/2010 08:32

Pottington,

No reporting of Smith volumetrics has been published by Range. Argue at will about the in's and out's of reserve reports based on one well (which everyone gets). The fact is Range haven't told how the market how much the reserves an independent has calculated is down hole. Caveated volumes will be published.

Twissso

[pottingon] 14/4/2010 00:47

Ps. Crest is the operator
Has the largest %
If they say 2 RRL,
"This independent chap, we want him 2 wait
Until we have drilled well 2, ok by U".
RRL may not have anticipated that.
But he/ho rrl not lying like a bus it will arrive
In due course, u never know 2 will come along at
Once.
Potts. Are we there yet? Where's that Oil. ?

[pottingon] 14/4/2010 00:20

Yes just like at GKP a independent assessment of poss
Reserves in place based on all information to date.
Just as at G/p it will B on the one well,
All estimates will be conservative,
Not bookable, bankable
Hence well 2.
At this stage more a publicity exercise
But may disappoint, anyone wanting a
Guarantee.
If so it may have the reverse affect 2 the 1
We require
But yes corrected
We now know when a educated estimate/guesstimate
Is Due.
anticipatedPotts

[wimbled] 13/4/2010 22:53

Holding RRL for some time. Target 8p in six months.

Interested in moving profits!!!!.

Have a look at gold producer OMI. Updating this week.



Read postings 585 and 586

[twissso] 13/4/2010 22:46

pottington "There will B no reserves report"

RRL RNS 16th March "It is anticipated that completion of an independent reserves report on the Smith #1 well will be completed in the coming weeks with the results announced once available."

You decide

[pottingon] 13/4/2010 22:38

Chaps N et's
We will get a production update.
There will B no reserves report.
At the mo' , the very best they could do is to
Issue a guesstimate based on acreage N seismic
N flow. Until a second, third well is drilled, to
Establish parameters. Porosity across the find
Nothing bankable / bookable.
We do not want a Hawk here
Crest the operator, is responsible
4 info.
The fact that the original owner of our
25% share Has insisted on reclaiming 5%
Of the next drill. and beyond. Confirms a pay day.
We only got the chance of a
Late entry due to them having no cash. At the time their
Payments 4 drill 1 were Due
IMOPotts

[steelwatch] 13/4/2010 16:50

PsychoWally's nose is to the day job grindstone. Sparks flying off it :->

[shugmonkey] 13/4/2010 15:39

Where's Whitey?
I kinda miss all the filtered posts.

[poisson rouge] 13/4/2010 15:38

Thanks Twisso, some interesting reading there

[twissso] 13/4/2010 15:29

In March Range annouced that Smith#1 remains "on track to be shut in during Q2 2010, where the remaining two zones will be fracture stimulated (if needed), comingled with the currently producing zone, and then introduced to the sales line."

I was doing some reseach on fracture simulation and how long this would take. It takes some time to prepare the site and a lot of water but the actual process of loading the well with fluid and pressure to fracture the rock structures only takes a couple of days. A workover rig isn't required, special fracking crews are contracted in.

There's also some interesting reading out there about the use water injection methods to improve recoverability for resevoirs that have pay zones crossing multiple wells. An example of this process to "support up-dip oil production" is described a recent announcement by Tullow -

Here's some info on fracture simulation -

Here's a video (this is a shale formation but same principles apply and it gives an idea of what happens onsite) - www.youtube.com/watch?v=QefLQKLb5co
(pumping a high pressure compound into the well to fracture the structures, freeing up channels in densely packed enclosures for hydrocarbons) .

Are there any petrotechs on the board that can add anything?

It will be possible to make a lot of progress in Texas in a short period of time. Happy days ahead to enjoy our averages.

[cashandcard] 13/4/2010 12:43

Devonlad,

Don't want to dash your hopes but it will be upto the operator of our Texas project, Crest resources when to release the report. Its better to look at the company over the longterm than a few weeks with a specific item in mind.

Cash

[devonlad] 13/4/2010 12:33

Thanks Poisson, you're a star, can't wait!

[poisson rouge] 13/4/2010 12:29

Devonlad, PL answered an III PIs email on the 8th saying he expected it to be completed in 1-2 weeks.

[devonlad] 13/4/2010 12:23

Any idea when the reserve report is due anyone?