Range Resources Share Discussion Threads

[fairdeal2008] 20/4/2010 10:18

Cant find the FD report but 2187 has prepared a nice little quick valuation est on other thread which gives about 8p est value on Texas at 200bn cf / 15m boo

[monkey puzzle] 20/4/2010 09:33

oh well failed again at 4p....maybe next time?

[cashandcard] 20/4/2010 09:27

Spangle, Fairdeal,

I would like to see what fox Davies have valued Texas at now after adjustments for dilution, 20% WI for the remainder of the project but over a larger acreage position. Should get something after the reserve report is out.

Cash

[trint76] 20/4/2010 09:19

Seems to be that way oola, some reasonable interest this morning though.

[fairdeal2008] 20/4/2010 09:16

spangle sorry I think I may have jumped at 3p too quickly - will check

[oolaboob] 20/4/2010 09:06

trint76

but the buy price is getting less on each trade which suggests there's still a latge seller out there........?

[spangle93] 20/4/2010 09:06

Hello Fair Deal

I can only find reference to Fox Davies saying 2p (Flash Note 17-Dec)for 80bcf and that was before the Jan/Feb equity placement to raise funds. Can you point me to the 3p statement - is it recent?

TIA

[trint76] 20/4/2010 09:01

Those seem to be buys going through rather than sells. I was offered 3.75 this morning for 100k (PLUS is showing a sell)

[pheonix07] 20/4/2010 08:13

"Many investors are optimistically hoping for 200 billion which sounds a stretch until you consider that the Mobil David field just north of North Chapman ranch produced 250 billion cubic feet and over 10 million barrels of oil. Food for thought, but without doubt, the Texas success could be a mini company maker in its own right"

So if smith #1 generates similar figures what would that mean in terms of NPV/SP for range?

Anyone ? anyone? (ferris bueller)

[three days] 20/4/2010 03:48

Fairdeal

Good article....80 billion cubic feet would be very nice.

Some mild profit taking in Aus.

[fairdeal2008] 19/4/2010 22:36

Link to relevant article content (being posted on iii):



From the article:

Now here's a few extra points to note. Firstly, the initial well test measurements were conducted using a small choke size, so the full potential flow rate could be materially higher. Secondly, only one of the three pay zones has been perforated and tested, so more upside there. Thirdly, they are planning additional wells thus speeding up the potential production and sales revenues (of course they have to fund their share of cost for all wells drilled).

And finally, Range and its partners have just increased their Texan acreage from 1,120 acres to 1,680 acres, a 50% increase. Evidently they like what they see!!

There is much speculation as to the extent of reserve and of course speculation can lead to desperation. That said it's worth noting that the original target for the drill campaign was to find a minimum of 80 billion cubic feet of gas. Initial speculation is that the find could exceed this target substantially and of course, there is also the oil to consider, something of a bonus.

Many investors are optimistically hoping for 200 billion which sounds a stretch until you consider that the Mobil David field just north of North Chapman ranch produced 250 billion cubic feet and over 10 million barrels of oil. Food for thought, but without doubt, the Texas success could be a mini company maker in its own right!

[three days] 19/4/2010 17:09

The price has done better than most people may realise.Considering the RI,it's gained some percentage in the last month.

[monkey puzzle] 19/4/2010 16:09

I'm not holding my breath.....I want to see this news and a breakout again...this 4p ceiling is proving a tough nut to crack.

[devonlad] 19/4/2010 16:05

Three Days - I think you could have a point, mm's have picked up a lot of shares recently and they know that the news is due and are now making buyers pay for the pleasure! It could be here this week, fingers crossed that it is good.

[three days] 19/4/2010 15:49

News can't be far away.

[explorer88] 19/4/2010 14:53

added a few more this morning

GLA

[mingle3] 19/4/2010 14:01

just quoted 4.019 for 100k shares

[monkey puzzle] 19/4/2010 14:00

Easy tiger.....let's get over 4p again first at least......

[martinfrench] 19/4/2010 13:59

ticked!!

purchase on friday was well timed.

think these have the ability to easily go to 20p

[brasso3] 19/4/2010 12:56

Another attempt at 4p on the cards.

[trint76] 19/4/2010 12:27

6 v 2 on L2

FOXY and CANA have recently-ish moved onto the bid.