Range Resources Share Discussion Threads

[cashandcard] 05/5/2010 12:16

Fairdeal,

Hope you get them all. I have 750k here now but am going for 1mln initially, possibly 1.5mln, it would depend on some funds coming through. I would be comfortable with my exposure here at that level as a target. Mobil David field? well, they were going for 80bcf in texas originally. However, since the increased acreage position and multiwell campaign, 2-250bcf & 5-10mmbbls starts to look possible. I think its safe to say they are expecting a lot more than the initial 80bcf. Gorgia is the unknown quantity and I think the recent seismic will lead to an upgrade of the resources on those two blocks.

Alistaire, I have actually been watching RRL since last year but I passed on them because the risk on Puntland alone was too much. Since Georgia and Texas and then commercial discovery in Texas, this is a different company to what it was last year. It certainley met my criteria. We have slow but sure progress over each of our projects, most importantly the clear intention from AOI to drill atleast one well in Puntland this year.

VST? Fab company, I got in last year when the Ex rate was CAD$1.85 and again at CAD$1.76, its more like CAD$1.5 now so not only am I profiting from the incredibly stable uptrend in VST share price but also a nice CAD$ hedge against pound. Potential? I do not believe RRL, at this time have similar potential for several reasons. The size of the single structure at VST is huge, even by kurdish standards. There is a strong likelihood that going forwards, VST and LFD will merge to create a Kurdish pure play in Eastern Kurdistan that will rival GKP in western Kurdistan. VST spud QD imminently with upto eight targets. There are surface oilseeps on Qaradagh. Ed Sampson (Pres of Partner co, Niko Resources) said in a conference call that QaraDagh is the largest structure to be drilled in Kurdistan since the Ottoman Era.

Now, although RRL's numbers are similar to VST, the fact there has been no drilling for two decades adds a bit of caution even if discoveries were made. Oil&Gas is being discovered in Kurdistan with nearly every well that goes down - exceptional because average sizes are over 1bln bbls!!! This is an unrivalled strike rate, much higher than industry average. Your more likely to strike BIG conventional hydrocarbons here than most other places in the world. The marketcap of VST is higher (£140mln?) but its testament to nearterm huge realisable resources which are constantly being discovered all around them. They really are in the middle of some of the most oily territory in the world. Compared to some of their peers, they are at a discount. All IMO of course.

Cash

[alistair4444] 05/5/2010 12:10

cash - Once again thanks for IMO another top post, how would you compare VST with RRL over the next year in % risk/reward terms or is it impossible to say at this early stage ?

[fairdeal2008] 05/5/2010 12:06

Well I have accumulated 2.4million shares at present and personally would like to move that to closer to 4million.

I suspect we are very close to a major rerating, partly because sentiment is so low. If we had very positive sentiment then I would be worried, but the reratings almost always come from a position of negativity.

I am looking for the reserves report and when we have that, perhaps it may underscore the value here. Anything like the Mobil David field will likely be worth double the existing cap here. So we could be 100% plus up with absolutely nothing in for Georgia or Puntland, which plainly would be ridiculous.

I am expecting a move past ten pence in the near future and will buy steadily all the way through and then hold.

imho please dyor

[westmoreland lad] 05/5/2010 12:00

Same strategy as yours C + C. Accumulate on lows and wait.

I'm in no hurry

ps -- good post btw

[cashandcard] 05/5/2010 11:46

runbrian, Fairdeal,

Its as I suspected, some of the characters floating about these boards seem to have very little experience of investing in smallcaps because, quite simply, they are traders in need of a quick buck. They seem to dwell on previous losses. I'm sorry PW has been badly burned investing in AIM but thats not the case with everyone. Neither does it give him and his associates the moral high ground to collectively ridicule this entire smallcaps market. E&P Companies go through several stages in their development. If you had been around long enough, you'd have known this. I recall the days when I could have easily bought TLW at under £, Cairn at a couple & (now gone) Imperial energy at 97p. All of whom took many years in the making. Just look at what EEN has been through. But thats for growth on reasonably good assets. I think RRL's destiny will be the same as AOI and will come to fruition much quicker than any of the above.

RRL will need cash in the future, there is no doubt about that. But lets have a quick peep at the assets that cash will go towards. I nice mix of low-medium-high risk; 25% WI in a producing oil&gas field in Texas. 50% of two Georgian blocks with significant gas and some oil shows on them. 20% Puntland blocks (onshore) with an oil discovery and several wells exhibiting oil shows. 100% Puntland (Offshore) in a geological extension of prolific Yemeni Basins to the north. Certain mineral rights in Puntland. Forgive me for saying but their oil&gas assets look geologically de-risked to some degree already!

Now, for £30mln, find me another company with similar resource potential and likelihood of a major drill (or two) in about 4-5months. If there is I will be interested & take a look at it. The Texas production is set to increase once the frac stimulation programme has been completed. So current cashflow should go up a few notches. This will help the coffers but may not be enough to fund Georgia drilling at 50% until more texas wells come online. I am expecting them to raise cash but not at this price, much higher after the stock has been rerated. I have already expressed that I intend to accumulate on dips with that all important Puntland drill in mind. How about some of you guys, whats your forward strategy?

Cash

[runbrian] 05/5/2010 10:04

Nothing wrong with being honest, but SAGEM's behavious is borderline bipolar...

Hyped up to the max with any slight increase and full of doom and gloom on any slight dip.

Too wearing to listen...

SAGEM - 5 May'10 - 08:31 - 9898 of 9917 (Filtered)

PWhite73 - 5 May'10 - 08:37 - 9899 of 9917 (Filtered)

Three Days - 5 May'10 - 09:13 - 9906 of 9917 (Filtered)

[three days] 05/5/2010 10:02

I don't get into arguments with posters - I just make money.

Tip for you - buy CWC - I just have.

[fairdeal2008] 05/5/2010 09:55

Actually 3 days was thinking of filtering 3 days primarily because he looked like an extremely vulnerable individual and couldnt bear listed to his nervous ramblings... don't like negativity, its bad for the health.

Then he evolved into basher mode this morning and that for me was enough.

I see no reason to post on stocks if you are negative or sold out, unless you are a basher of course....

imho

[monkey puzzle] 05/5/2010 09:51

All right, we'll add you to the list the 3days....there you are now the 3 short amigos ok?

[three days] 05/5/2010 09:50

Don't why you're picking on SAGEM.I remember him from years ago on oil boards.

He usually says what he's thinking,as I do myself - nothing wrong with being honest.

[monkey puzzle] 05/5/2010 09:48

For someone who claims not to have shorted any stocks it is amazing how such an expert predictor of failure across the board has failed completely to use his skill to make any money>??? Pwhite are you really just a Good Samaritan and SAGEM the desciple?

[notarealdr] 05/5/2010 09:43

SAGEM - 5 May'10 - 09:32 - 9910 of 9910
"PWhite73 yes you are correct once again ...."

Erudite, smart as a whip, savvy,........ not words that instantly spring to mind.

[oolaboob] 05/5/2010 09:41

ffs another filtered...sagem.

fair deal agreed.

[sagem] 05/5/2010 09:32

PWhite73 yes you are correct once again You just have to be very lucky if the share you are holding happens to go up be very quick and sell you may make a bob or two but whenever a company issues a good report the market makers mark it up and before the day is out they mark it down again and the reason that the share price went up in the first place is still their and suddenly this makes no difference at all, what we are doing is gambling NOT INVESTING that is what PENNY SHARES are all about. If you want to invest by BLUE CHIP COMPANIES for a small growth but an income ie divi.....although I know all this I still gamble with these very speculative penny shares and hope to win HEADS AND TAILS. At The present time we are onto a looser until news arrives and it all starts all over again if the news is good or we get another blood bath.

[fairdeal2008] 05/5/2010 09:28

I thought some was a bit fishy with sagem, this morning confirmed it:

SAGEM - 5 May'10 - 07:48 - 9892 of 9908 (Filtered)

Regrettably we have been overloaded with bashers. What does that tell you ;-)

[alistair4444] 05/5/2010 09:14

Header on the Solo Oil Thread... If you value your sanity, filter and ignore poster alias PWhite73, newly arrived deramper ex-the RRL thread (and others). He claims there is no oil in this Texas well

[notarealdr] 05/5/2010 09:13

PW / Sagem = Same person, sorry should be same imbecile.

Sagem "was" going to add to his holding. Probably by 10% making for a total of 11 shares.:)

Before the naysayers declare the company bankrupt upon release of the Smith report, remember that the market reaction may not be immediate. The bonus will come when various analysts have time to run their slide-rules over the report and draw value from it. This could take anything from days to weeks as the analyst's recommendations hit the market place and generate interest.

[three days] 05/5/2010 09:13

PWhite is correct about the cash position.

I sold on Friday.

[captainnelsonforties] 05/5/2010 09:12

Shrule,

Apologies bout the delayed reply to yesterday's post. Just catching up this morning reading through hundreds of posts. Pretty much as expected re-Puntland and Georgia. Puntland drilling before year end and Georgia still maturing up targets while they complete the analysis of the seismic. One important part is that the Smith-2 well is due to spud within days now that site prep is almost complete.

Captain Nelson Forties

[pwhite73] 05/5/2010 09:07

Yes WE.

I also talk from the experience of losses and people who predominantly trade on the AIM also experience mainly losses. Anybody who tells you otherwise is a liar.

gone.

[pwhite73] 05/5/2010 08:54

Monkey Puzzle

I do not and have never in my life shorted a stock.

The market makers move the price of these worthless AIM stocks in the opposite direction of where the money is. If people are buying then down the price goes. If people are shorting then up the price goes. It makes no difference. They steal from small private shareholders either way.

And how can you claim I post after the fact. Did I start posting on this thread before or after the news from Smith. Did I start posting on the Solo thread before or after the news on Likonde.

I know how this AIM market operates. You can only make money if you are holding a stock at a particular price and an event happens whilsts you are holding. The sudden influx of buyers is faster than the market makers can take your money off the table. That's when you get a rise.

But if you hang around for too long they will catch up with the buyers or contact the company and ask the company to issue more shares so new investors are buying discounted shares off the company instead of you.

The AIM is a charter for thieves. When you understand this you will begin to understand why we are always losing money and also how to make some money.

[monkey puzzle] 05/5/2010 08:41

Sagem,

Sorry but thta is utter rubbish and you know it full well. Pwhite mostly posts after the fact and if he was so right all the time he would have made millions shorting aim, he hasn't and just enjoys winding up posters

[ivanburgess] 05/5/2010 08:38

Mr.White (Wasn't he in sanitary towels?). You state: "Of course had the people publishing the tipsheet took their own advice and bought Pollypeck they wouldn't still be writing for the tipsheet five years later."

I think they would still be writing tip-sheets, but nobody would be listening. (a bit like your posts). If they had invested their own money in it, they would have lost a fortune when the scam crashed.

And as for your sour grapes about GKP, well I think we all realise you are bitter that you didn't listen to the posters who were advising you to buy ..... a bit like RRL, I think.