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RRL Range Resources Limited

0.035
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Range Resources Limited LSE:RRL London Ordinary Share AU0000065989 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.035 0.03 0.04 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Range Resources Share Discussion Threads

Showing 11276 to 11298 of 86375 messages
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DateSubjectAuthorDiscuss
17/5/2010
10:41
notarealdr " I'll still be sitting on a mountain of money." maybe not as much as the UK Euro-lottery winner last Friday said to be a staggering £84 million, "you must be in it to win it" and we are.
alistair4444
17/5/2010
10:00
Thanks Alistair.

FWIW i think the current price represents a great buying opportunity. I bought last week at much higher levels than this but I am not bothered i could buy cheaper this week. Why? Because when the share price is $2 I won't give a tinkers cuss if I paid 3p or 13p, I'll still be sitting on a mountain of money.

I don't get hung-up about the price I paid, only how many I have. Right now I don't care about either.

notarealdr
17/5/2010
09:55
Full article from oilbarrel:

May 17, 2010

Range Resources Pushes Ahead With Texan Development As Key Puntland Well Edges Nearer

Range Resources, which is listed on AIM and the ASX, is moving ahead with its drilling plans in Texas, this week spudding the Russell Bevly-1 appraisal well on the North Chapman Ranch field. The aim of the well is to provide further detail on the size of the reservoir and move the reserves up the value chain. The US$3.8 million well, which will be drilled to a depth of 14,000 feet, lies less than half mile from the Smith-1 well.
That well, which came onstream in February 2010, proved a real success for the dual-listed company, striking 215 billion cubic feet of gas, 16 million barrels of oil and 15 million barrels of natural gas liquids (gross). This is a significant resource in the heart of the Texan onshore oil and gas industry and is quite a coup for Range, which has a 25 per cent stake in the Smith-1 well and 20 per cent of the Russell Bevly-1 well. That gives Range, which has a market cap in London of £27 million, exposure to net reserves of 45 bcf of gas, 3.3 million barrels of oil and 3.2 million barrels of NGLs, which independent petroleum engineers Lonquist reckon is worth US$226 million in discounted cash flows.

Smith-1 was brought online less than three months after confirmation of a commercial discovery – exactly inline with the guidance given when Range made its initial investment in the project in September 2009 - at an initial rate of 3.3 million cubic feet per day and 290 bpd without fraccing. The company anticipates payback within eight to ten months of production.

This is an impressive result for a reasonably small outlay and vindicates the company's move into Texas in September 2009, which at the time was quite a departure from its exploration interests in geo-political hotspots in the FSU and Africa. Range's executive director Peter Landau said an initial investment of US$1.8 million to drill, test and commercialise the Smith-1 well had resulted in a "significant uplift in shareholder value". The plan now, of which Russell Bevly-1 is a part, is to drill a series of wells to move more of the possible reserves into the P2 and P1 category and to bump up production numbers.

Investors in Range Resources, however, aren't backing the company for the yields that can flow from a modest production stream in Texas: at its heart, Range is a frontier explorer with assets in Somalia and Georgia that come with a significant political risk but could deliver a company-making pay day.

And that possible pay day is edging a little nearer, with plans to drill in the Puntland, an autonomous state within Somalia, later this year, an area that Range is hoping will prove to be a replica of the multi-billion barrel basins across the Gulf of Aden in Yemen. Puntland has attracted industry interest in the past, with major oil companies spending over US4150 million here before being driven out by civil war.

Now, Range and its partners reckon the time is ripe to test whether these lands really do follow the geological trend arcing down from nearby Yemen. Range and its joint venture partners, TSX-listed Africa Oil Corp and Lion Energy, are finalizing drill-ready targets for the first drilling campaign in Puntland for over 18 years. One well is planned on the Dharoor Block based on newly acquired 2D seismic while a well is also being mulled for the Nugaal Block in 2010/2011. Range is also keen to finalise a PSA to explore offshore Puntland, in waters that for now are better known for piracy than wildcatting (although Range stresses that the Somalian piracy problem doesn't extend into Puntland waters).

In Georgia, Range and its 50/50 partner Strait Oil & Gas Ltd, have completed a 410 km 2D seismic programme to complete their work commitments under Phase II of the PSA. The data is now being processed and interpreted by RPS Energy with the aim of identifying drill-ready targets over the summer. Range may then seek to find farm-in partners to help fund a future drilling programme. This is proven oil and gas area and could yield some interesting results for the company. Importantly, this higher risk exploration will now come with the back-up of production from the US, adding strength to the balance sheet, diversity to the portfolio and a level of comfort for investors.

steelwatch
17/5/2010
09:52
Texas on Track update on Miningmaven today



notarealdr - Wirralfinance

alistair4444
17/5/2010
09:48
QUOTE ----
:Once we get free of those Oz sellers taking us back down on every run so far we'll move ahead:
So who is influencing who? ,if the Oz is down we sell,if aim is down Oz sell,how long does this madness go on for?
Just noting how it looks,
B.

bob alan
17/5/2010
09:44
CNF WTF is WF?
notarealdr
17/5/2010
09:40
I'm in for some more, 3.85p; i can't see this price lasting into next month at least; we'll see.
davethechef
17/5/2010
09:24
WF and Alistair,

Interesting reading. It certainly demonstrates the value here going forward. Once we get free of those Oz sellers taking us back down on every run so far we'll move ahead as things develop. It certainly shows the potential of Georgia for Q4.

Captain Nelson Forties

captainnelsonforties
17/5/2010
09:23
That's a good recemmendation from oilbarrel; and the latest miningmaven interview mentions how undervalued & oversold the latest developments have been taken by the markets, which continue though, volatile.
I'm sure a number of LTH here are surprised how you can again buy for below 4p after that positive reserve report.
One would expect some news on Georgia next month, if not before.

davethechef
17/5/2010
09:18
Good find Alistair.
notarealdr
17/5/2010
09:15
Oilbarrel.com

May 17, 2010
Range Resources Pushes Ahead With Texan Development As Key Puntland Well Edges Nearer


Range Resources, which is listed on AIM and the ASX, is moving ahead with its drilling plans in Texas, this week spudding the Russell Bevly-1 appraisal well on the North Chapman Ranch field. The aim of the well is to provide further detail on the size of the reservoir and move the reserves up the value chain. The US$3.8 million well, which will be drilled to a depth of 14,000 feet, lies less than half mile from the Smith-1 well.

That well, which came onstream in February 2010, proved a real success for the dual-listed company, striking 215 billion cubic feet of gas, 16 million barrels of oil and 15 million barrels of natural gas liquids (gross). This is a significant resource in the heart of the Texan onshore oil and gas industry and is quite a coup for Range, which has a 25 per cent stake in the Smith-1 well and 20 per cent of the Russell Bevly-1 well. That gives Range, which has a market cap in London of £27 million,..

alistair4444
17/5/2010
09:12
new update interview with the company on MiningMaven

Texas on Track!

hardassets57
17/5/2010
09:02
It had better hurry. This price is shameful!
siday2580
17/5/2010
08:59
SAGEM is best filtered. Unless you have a fond liking of immature, irrational commentary. RRL is oversold and will rebound in due course. The rebound will be swift and sharp imho.
fairdeal2008
17/5/2010
08:52
Sagem,

Get a grip ffs! Many a share has not reflected net value for various reasons. Just because it has not gone where you want it doesn't mean its a dud. IMO this is going to be a hot play towards end of year as Puntland and Georgia drilling programmes begins. This is the time, in my opinion, to be accumulating stock before the crowd come in.

Cash

cashandcard
17/5/2010
08:51
Topped up again myself this morning at 3.75 accumulating more all the time.
alistair4444
17/5/2010
08:46
No change going down again perhaps its only WATER in the well after all what a DUD
sagem
17/5/2010
06:44
Down in OZ.

A chance possibly to buy more today. Markets worldwide down. May have an affect here in London this a.m, who knows! Going to set a silly limit order in for more. Have to travel back up NI orth so wont have access to the net until late this evening.

GD

greatfull dead
17/5/2010
06:42
Range Resources down again in OZ....Well we will see how we start at 8 AM UP OR DOWN
sagem
16/5/2010
22:39
SAGEM

If the shareprice can't rise on a 215 Bcf find it never will.

pwhite73
16/5/2010
21:30
PERHAPS IT TAKES TIME FOR THIS TO SINK IN TO INVESTORS MINDS...PERHAPS TOMORROW MONDAY THE SHARE PRICE WILL START RISING IF BUYERS RETURN IN A BIG WAY

Range confirms size of discovery
Tue 11 May 2010

RRL - Range Resources Ltd.

Latest Prices
Name Price %
Range Resources Ltd. 3.88p -6.05%

Oil & Gas Producers 7,666 -2.96%

LONDON (SHARECAST) - AIM-quoted oil and gas explorer Range Resources has confirmed that it has a commercial discovery on its hands at the North Chapman Ranch field in Nueces County, Texas.

There are gross commercially recoverable reserves of 215bcf of gas, 15.9 million barrels of oil and 15.5m barrels of natural gas liquids. The proved element of these reserves is 33.3bcf of gas, 2.5m barrels of oil and 2.4m barrels of natural gas liquids.

Range owns 25% of one well and 20% of the others. This means that the proved reserves attributable to Range are 8.3bcf of gas, 0.6m barrels of oil and 0.6m barrels of natural gas liquids. The cash flow relating to these interests, after a 10% discount rate, is $36m.

sagem
16/5/2010
21:14
The share price has not been rising due to the fact that their have been more sells than buys when we get the opposite more buys than sells the share price will rise without any news. It might even happen tomorrow Monday.
sagem
16/5/2010
14:31
Jessica, i think I have just found my soul-mate.:)

I have 2 maxims. Firstly, people are no damn good. Secondly, there are 2 types of people in the world, those who let you down, and those who are going to let you down.

notarealdr
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