Range Resources Share Discussion Threads

[someuwin] 03/5/2010 09:29

Sounds good to me...

"Initial production has been from the middle of three zones which has been flowing naturally (without hydraulic fracture simulation). It is anticipated that the well will be producing from this zone for several additional weeks before being shut in for a recompletion involving addition of the two other zones and fraccing of all three. All three zones will then be comingled and produced. Hydraulically fracturing the reservoirs is expected to create additional permeability paths from the reservoir to the well bore that should sharply increase initial rates from all zones, which in turn will accelerate payout while improving reserve recovery and overall economics."

[steelwatch] 03/5/2010 09:29

09 February 2010
Company Announcements
Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000
By E‐lodgment

COMPANY UPDATE

Texas

Range Resources Limited ("Range" or "the Company") would like to announce a further update on the Company's US Gulf Coast interests.

Despite continual heavy rains along the Texas coast, oil storage tanks and dehydration / separation equipment have been successfully installed on site. The Operator has now commenced the installation of the flow line that will connect the Smith #1 Well to the commercial sales line.

The standing water that can be seen in the photo below will be cleared so that the flow line can be successfully buried. Once the flow line has been completed, the final stage will be the connection to the commercial sales line.

The Company will provide further updates as the Smith well progresses towards first production.



So, wrong again Plonker.

[pwhite73] 03/5/2010 09:25

Hoorah Henry

Smith #1 has been flowing oil and gas since and before 21 December 2009 as per the Texas Update on that day. It was production for sales that started on 22 February 2010. "Gross production" as stated in the report over the quarter was 90 days.
My figures are correct.

If you are using the start date of 22 February 2010 then the gas figures of 73k MMcf look even more ridiculous.

[steelwatch] 03/5/2010 09:24

PlonkerBlanc - your calcs are wrong in respect of the "90 days" though I will allow that the gas production figure requires clarification.



Production commenced to sales following successful connection to the sales line w/c 22/02/10. Try 38 days unfraced and with 2 more zones to complete and frac.

[bearhug2] 03/5/2010 09:16

PWhite, if you are right then fair play but i think i will hang around for the pre spudding spike on Tuesday aim ..This for me is not a day trade. I like the fact they are producing now (Whatever the figures are) and with further spuds and income to come i am guarenteed some return..There are far more risky stocks out there..PWhite do you have any tips for a thick private investor trying to make a living or is it just you dont like this stock for whatever reason..

[notarealdr] 03/5/2010 09:14

What's that blurter? I say speak up, you can't be heard.

Damned if I can make out anything he is saying. Keep it up Blurter.
He must be talking through the pillow again.

[rusmitchellisme] 03/5/2010 09:13

Loser alert

[notarealdr] 03/5/2010 09:11

I think his lips are moving, but there is no sound. Sweet silence.

I can only guess he is whinging because he missed out on profits today!

[hoorah henry] 03/5/2010 09:10

PWhite is the only thick one here - you base your calculations on 90 days, but the well was not connected to the pipeline and started flowing till around 22nd Feb !!!!!!!!!!!!!!!

[bearhug2] 03/5/2010 09:01

If the results and cash flow were bad please tell me why asx finished 8 % up? them figures assume that no more cash is generated..surely once RB #1 is drilled, flow rates will increase, allowing more money to be made. Fraccing i think will also help (double flow rates probably).Dont see any reason for another placing yet or in the near future..

[monkey puzzle] 03/5/2010 08:57

White,

All your deramping is wasted here. Go plague a more deserving thread.

[pwhite73] 03/5/2010 08:48

codhead1

You are correct but the currency is in Australian Dollars.

The Consolidated statement of cash flows will show you where its all gone.

1. $A6,685,000 on exploration and evaluation.

2. $A1,376,000 on administrative costs.

3. $A1,100,000 on borrowings.

4. $A650,000 cost of the rights issue.

5. $A213,000 loans to other entities.

5. $A93,000 directors fees.

Well there you have it. With a capital expenditure plan of $A2.5 million required over the next quarter it is evidently clear the company is going to require further cash for the autumn/winter.

[redleafboy] 03/5/2010 08:47

What have GBrown & PWhite got in common?

OK so it's Bank Holiday Monday - cee u next Tuesday!

[shrule] 03/5/2010 08:44

Was rrl originally placed on aim @26p ?

[rusmitchellisme] 03/5/2010 08:28

time to trade in the denims hey jack!

go you good thing!!!!!!

[jack1236] 03/5/2010 08:22

PWhite

Why are you so thick?, probably in the genes.

[codhead1] 03/5/2010 07:11

Am I right in saying out of the £14 million raised they have £4.2 million left with next quarter costs programmed to be £2.5 million? When are we going to start to see cash returns from Texas? I am sure somebody mentioned Q3.

[sagem] 03/5/2010 06:57

rrl NOW UIP 8.1% IN OZ WITH 1461.072 BUYS AGAINST 4170,598 SELLS
VERY STRANGE

[sagem] 03/5/2010 06:40

RRL now up 6.5% in OZ

hERE IS THE REPORT TO READ IN FULL :-

[alistair4444] 03/5/2010 02:14

From tonights Texas news " Following completion of site preparation work this week, spudding of the Russell Bevly #1 well is expected to occur in the next several days "

[bearhug2] 03/5/2010 01:17

Well blow me..Up 8% with 3 mill traded in 10 mins..Christmas may be coming early

[bearhug2] 03/5/2010 01:11

If they havent im off to the house auctions on Tuesday!! haha