Range Resources Share Discussion Threads

[pwhite73] 11/5/2010 04:40

Gentlemen

Yet again you have been led up the garden path and you have misinterpreted the results.

The so called independent valuation is for the entire North Chapman Ranch field.
The proved reserves for the entire North Chapman Ranch field (if you can believe a single word of that dubious report) stands at 33.3 Bcf. This is considerably lower than the initial figures quoted of 80 Bcf.

If the entire area of the North Chapman Ranch field were exploited Ranges proved up reserves could be 8.3 Bcf and 0.6 mmbbls.

HOWEVER THAT IS NOT THE REPORT YOU WERE WAITING FOR.

What you were waiting for was an independent reserves report on Smith #1. No such report has been issued for as I have repeatedly stated I believe Smith #1 to be uncommercial. What Russell-Bevy and other wells are like in the entire North Chapman Ranch field are yet to be known. Before I leave you for the last time. Please note on page 3 the way PL has hidden Smith #1 within the entire North Chapman Ranch progect:-

"Range Executive Director, Mr Peter Landau, commented, "Range is pleased that from an initial investment of US$1.8m to drill, test and commercialise the Smith #1 well, we have been able to achieve a significant uplift in shareholder value based on independently assessed reserves and valuations reported on the North Chapman Ranch Project."

What you waiting for was an "independently assessed reserves and valuations reported on the Smith #1 project."

Be careful with the stock.

[barongboy] 11/5/2010 04:18

nice rise back up again.good fun when it's like this!

[notarealdr] 11/5/2010 03:24

Alistair, as of 7 May there were 344,111,375 shares on AIM representing 41.28%.
G'day Usher, i've been remiss not acknowledging you.

[the gizmo] 11/5/2010 03:22

As of tonight i'm in full support the Pom's.

GO THE POMS.

[pheonix07] 11/5/2010 03:18

Sweet dreams mate lol

It won't happen over night...but it will happen Ü

[alistair4444] 11/5/2010 03:05

pheonix07 - Goodnight - maybe next time news due they release it on the AIM first
ps Edit - Top report well done Range !

[pheonix07] 11/5/2010 02:59

definately heading that way

its obviously being manipultated to increase AIM %

if they really wanted it to soar on the ASX they could have held off another day so that all the orders would have been purged and a new mkt price set higher IMO

[the gizmo] 11/5/2010 02:58

The share price has to drop lower - 200mil new shares come on line in 5/6 weeks.

The BOYS sold all there share on the AIM, so lets just wait till their get there new batch, then the price may increase above 10 cents.

WE'VE SEEN IT ALL BEFORE.

no smaller investor is selling on the ASX, it's the boys who have sold. we little blokes don't know the timing on the games.

believe me, i for one of many are still holding and would love to see the share price raise above 10 cents, then 1 dollar, then 10 dollars.

[alistair4444] 11/5/2010 02:54

pheonix07 - No to sleep - any idea of % shares now with AIM v ASX ? is it near to 50%.

[pheonix07] 11/5/2010 02:48

Don't u sleep Al?

does this mean with Bevly spudding in the next few days P2 & P3 reserves may increase proven reserves (P1)?

[alistair4444] 11/5/2010 02:44

notarealdr - Agreed so as we pommies now drive the price is there any legal reason why RNS not released here first ? because at present its like the cart dragging the horse.

[notarealdr] 11/5/2010 02:04

dane, I don't think it matters much what price it makes in oz as they don't understand this type of stock there. You pommies appear to understand this type of stock much better and I expect AIM to drive the price.

[dane1606] 11/5/2010 01:41

i think its got to get to 9.5c in Oz to equate to our ask of 5.75p so unfortunatly Leeds you might be a bit optimistic with your forcast tomorrow.Hope you are right tho !!

[alistair4444] 11/5/2010 01:40

OZ like a ball & chain around RRS - LSE much more + been like that for some time seems like smartinvestor on iii board agrees with me quote...
"Their loss is our gain! It's better the ASX doesn't have a lot of shares left when the REAL news kicks off (Puntland) otherwise we'll only have them holding us back.

I respect they've lost a lot on Range, and can understand why they're selling as soon as they break even. But this story requires new investors to take it forward, and those are on the AIM."

[lufc5] 11/5/2010 01:31

$0.074 - 0.075 so it hasn't flown up much over in Oz. 25% ish...
Bit more layed back over there though.
I'm thinking of a nice steady rise in Oz, and opening here at circa 8-9p.
Prob' way off, but that's how I see it.

[azidarr] 11/5/2010 01:30

oz's are crazy they start selling from start. why don't they wait and see for little while.... i think they were waiting for the news and trying to bail themself out, i don't care. we are holding it tight and we will be the ultimate winers...

well done to every one and good luck for tomorrow

[jathomas] 11/5/2010 01:27

Thanks Alistair got it on the Monitor now.

[baracus61] 11/5/2010 01:22

I'm sorry to hear that Phil....hopefully RRL will pay off and you can afford to move down here to Gaytown.

[alistair4444] 11/5/2010 01:21

JAThomas - Only takes a minute to reg

[bearhug2] 11/5/2010 01:19

only downside i see (Sorry) is the resource is p3 not p1 but the second well should hopefully resolve that

[phil4711] 11/5/2010 01:18

baracus61,
Horsham.

[pottingon] 11/5/2010 01:18

Well , O Well, this is better than I expected, And 2 think that tucked up in a
ISA. If the worst Happens here politicly, No tax 4 Klug The Thug.
If U want 2 Sell 11.33. Am, Will do Well.
O Well
Pottts

[bearhug2] 11/5/2010 01:17

decision made..order in...im averaged at 4p anyway so nothing to lose really only gain..what the hell if it goes pear shaped shes going to blackpool lol...im staying for puntland anyway thats the biggy so a no brainer..thanks sak

[sakamuka] 11/5/2010 01:15

Bearhug - "Life is pretty simple: You do some stuff. Most fails. Some works. You do more of what works. If it works big, others quickly copy it. Then you do something else. The trick is the doing something else". - LDV. ;-)