Range Resources Share Discussion Threads

[cashandcard] 11/5/2010 13:31

GT

That sounds about right as they have stated the well will be turned for the fraccing to take place.

Rugrat2,

I have looked but never really found any meaty info (production profiles etc) on the other two zones that need fraccing. Have you come across any such figures?

Cash

[ps13] 11/5/2010 13:29

Notice quite a few MM's dropped off now.

[greatfull dead] 11/5/2010 13:28

CFN,

Forgive me but I have not the time or concentration at present to think to much on oilers/stocks etc due to the very serious/terminal illness my younger sister has.

My reading of the reserves report this morning was that fraccing had not taken place on Smith#1 well yet.

The figures reported so far which intrest me a great deal from Smith#1 alone, Without fraccing (I am correct I hope)

Category Natural Gas Oil Natural Gas
(Bcf) (mmbbls) Liquids
(mmbbls)

Proved (P1) 8.3 0.6 0.6

These look good not and a bonus is natural gas liquids

ATB,
GD

[cashandcard] 11/5/2010 13:23

Rugrat2,

Welcome aboard mate! what a pleasant surprise. So thats, Me, you, CP and IJ (& countless others) all from the Hawk board invested here. Your research overthere is second to none. I hope we all benefit from the particulars you dig out from time to time. Good to see quality investors/longtermers moving here. The story will only grow with time.

Cash

[rugrat2] 11/5/2010 13:19

I bought into this recently and topped up this morning (about 2 hours too early!) Having looked around for info on the Texas project, and not found anything other than the ASX releases, I started to dig around and the following is a summary which I hope might be useful to some. Many of the references are to the Zdansky 1, which I realise is not part of the RRL buy in, but the info from which is important to the project.

The first map is an amended screenshot from the mapping system on the Railroad Commission of Texas website at:
(Put in the API number of the Zdansky well ( 355 33938) to zoom into the area.)



Having found the Zdansky well on the RRC map, I located it on Google Earth and produced the second image after a bit of research, with well locations and lease areas. I have put the long/lat data for the Zdansky at the bottom of the key, which when put into GE will drop you onto the drilling rig, on site on 31/12/2008.

The lease areas marked are taken from the plats associated with the drill permits and add up to 730 acres. From the look of the field on Google Earth, I suspect that the Smith lease extends eastwards as marked by the arrows adding a further 160 acres. I also reckon that the remaining 390 acres, to make up the original quoted lease area total of 1120 acres, probably lies west of the Zdansky lease. I can't see any obvious candidate for the 560 acre lease block(s) announced on 21/12/09, which brought the total up to 1680 acres.



As regards the wells, it came as a surprise to me that the Zdansky was a directional drill, with the bottom hole some 1600 ft away from drill location. Also the acquisition announcement on 21/09/2009 stated that
" Crest was unable to complete the Zdansky well due to hole problems." The permit listed 5 named target zones, mostly gas, but one at least was completed to some degree, as the Mobil David (Anderson sandstone) has been producing oil since June 2009:



Although no mention has been made of the other partner(s) in the project, the Smith Unit 1 and the Russell-Bevly Unit 1 are both permitted to Western Gulf Oil and Gas LLC as the operator, not Crest. They are both permitted as verticals with 4 and 5 named prospective zones, respectively.

The area is crossed extensively by pipelines, with a facility within half a mile to the west of all three wells. Zooming in on Google Earth reveals a seven tank, tank battery and according to the RRC there is a 4.5 inch oil pipeline running west from the site. Three gas pipelines run into or through the site (a 12.75 inch, a 16 inch and a 20 inch)and a 16 inch gas line runs across the Bevly lease.

For anyone wanting to look further, some useful numbers:

Producer numbers : Crest Resources 189901, Western Gulf Oil and Gas 911925.

API well numbers: Zdansky 1 is 355-33938, Smith 1 is 355-33957 and Russell-Bevly 1 is 355-33979

[hadronuk] 11/5/2010 12:08

Tricky things charts, especially when you have your decimal point in the wrong place.

[giannis] 11/5/2010 11:54

I went out earlier today from an early point of 0.035 - This is a good experiment to see if RRL is following a Marcov Process where future prices depend on past values or a completly white noise process. We have seen in the past that an attempt to break through the 0.05 area quickly mean reverts to the the long -run price.

My impression is that we will consolidate at these levels before next move up.

After all this is my own opinion and have no intention to stir up things

Best,

Giannis

[maxmarilli] 11/5/2010 11:49

paying 5.05 for 200k....that`s say it all....they want your shares....

[poisson rouge] 11/5/2010 11:42

Giannis, the second North Chapman spud could be days, not weeks imo. Georgia seismic imminent and AOC conference news (today) yet to be reported. Anyone would think you were trying to get a lower entry point ! ;p

[cashandcard] 11/5/2010 11:40

Giannis,

'As no news are expected in the next few weeks'

Thats wrong because we are expecting the second well, RB, to spud in Texas.

Cash

[giannis] 11/5/2010 11:38

My impression is that there is some resistance at 0.5p - as per previous spike we will need consolidation in this area before the next move upward. We are running out of steam - RSI index is not that strong. As no news are expected in the next few weeks i expect share price to drift down to 4p before the next leg up. We have seen it all before.

[sagem] 11/5/2010 11:32

Come on ADVFN get the site working properly

[olly2] 11/5/2010 11:29

5.1 on bid now..........

[maxmarilli] 11/5/2010 11:28

l2 6 4.75vs 3 5.25.....looks next step will be up...5.5p

[maxmarilli] 11/5/2010 11:27

yes,from early morning...

[sirraman] 11/5/2010 11:23

is that a 600k buy at 6p?????

[maxmarilli] 11/5/2010 11:22

nice 600k early buys....l2 improving,now...

[monkey puzzle] 11/5/2010 11:21

JAT,

All trades going via PLUS at the moment.....

Trade Date Trade Time Price Volume Type Considerations Conditions
11/05/2010 11:04:47 4.95 12,849 O 636.03
11/05/2010 11:03:13 4.95 10,101 O 500.00
11/05/2010 11:02:48 4.83 80,000 O 3,864.00
11/05/2010 11:02:36 4.83 62,513 O 3,019.38
11/05/2010 10:58:44 4.91 50,673 O 2,488.04
11/05/2010 10:58:44 4.91 40,522 O 1,989.63
11/05/2010 10:58:40 4.91 25,000 O 1,227.50
11/05/2010 10:45:02 5.05 5,684 O 287.04
11/05/2010 10:44:15 5.05 42,850 O 2,163.93
11/05/2010 10:43:17 5.05 4,892 O 247.05
11/05/2010 10:42:14 5.05 7,723 O 390.01
11/05/2010 10:40:50 5.05 19,145 O 966.82
11/05/2010 10:38:25 5.05 29,000 O 1,464.50
11/05/2010 10:33:27 5.05 100,000 O 5,050.00
11/05/2010 10:30:17 4.83 70,000 O 3,381.00
11/05/2010 10:28:25 4.83 65,000 O 3,139.50
11/05/2010 10:27:37 4.83 20,000 O 966.00
11/05/2010 10:24:53 5.10 23,236 O 1,185.04
11/05/2010 10:24:44 5.10 1,961 O 100.01
11/05/2010 10:23:52 4.80 23,753 O 1,140.14
11/05/2010 10:23:42 5.10 50,000 O 2,550.00
11/05/2010 10:23:32 4.80 15,000 O 720.00
11/05/2010 10:12:29 5.18 9,430 O 488.

[jathomas] 11/5/2010 11:16

According to my trades screen, the last trade on AIM was at 9.03??

[alistair4444] 11/5/2010 11:16

33.5 Million range shares traded on LSE/Plus market so far this morning

[shrule] 11/5/2010 11:15

Spikey Harry is gone with the dosh yet again ?

[maxmarilli] 11/5/2010 11:14

President Farole has been in meeting for security org about the off loading of rig for AOL in Bosasso,from iii`s board....aol had meeting in Kenya this morning and probably decided when drilling in Puntland will start....

[monkey puzzle] 11/5/2010 11:13

Lots of AIM shares get marked down today....

[shugmonkey] 11/5/2010 10:56

Why manipulation JAT?

Clearly by looking at trades loads of Sells are going through.

Those in for a quick buck are now bailing and looking for their next meal ticket.

[jackman2] 11/5/2010 10:56

some treeshake that!!!!!!