Range Resources Share Discussion Threads

[cashandcard] 26/5/2010 09:49

Sagem,

COV is an excellent company. It has a big discovery under its belt with further to come. Both COV & RRL have had a run of goodluck whereby highly prospective licences were picked-up for little outlay in the midst of the recession. However, I'd say RRL has the edge out of the two due to its potential for large oil reserves. This is aided by the discovery of oil in Puntland some two decades ago by AGIP and Conoco. Not only that but all RRL's licences have had previous drilling which has proved the existance of working petroleum systems within them. So there is potential to discover oil&gas in all its licences, not just the one. The oil will attract bigger players far quicker than offshore mozambique LNG is developed. I'm in both but with a much bigger position here.

Cash

[sagem] 26/5/2010 09:33

Cove Energy has huge potential,....a real money making stock IN THE MAKING.

[ghaon] 26/5/2010 09:31

O/T

Cheers CNF

I liked the look of GED and have taken a small stake for now. Thanks again for your considered opinion.

GhaoN

[greatfull dead] 26/5/2010 08:54

CNF,

Did you recieve my emails yesterday?

GD

[sparty1] 26/5/2010 08:52

Where`s the bloke on here who was dismissing my contention that RRL,or KEA, was a better investment than Matra (MTA)? Down 50% .....

CNF I agree with IAE,good choice.
Also Cov has huge possibilities.

[captainnelsonforties] 26/5/2010 08:33

O/T

Ghaon,

Sure besides RRL you should take a look at CAZA, valued on cash 5mmboe reserves and production currently in for free. Active drilling programme on some large gas targets onshore USA. They're currently over 30 days into testing a gas developmental well that hit multiple gas zones. Test results due any time now.

GED, 147mmbbls of P2 and £37m market cap approx, overdue on well results. Drilling 13 wells over the next 3 years to bring more of their P1 into production.

IAE,

Buy and hold for a couple of years and you shouldn't have too many complaints.

Research those and they should give you a few ideas, happy hunting. There are many others worth looking at but that's just a few with relatively near-term potential.

Captain Nelson Forties

[sagem] 26/5/2010 08:29

Well not much happening here today......has everbody gone to cove Energy I wonder or, BPC, FOGL, AST, DPL,TRP,XEL All up today....markets picking up.......see above report. Have a good day

[markth126] 26/5/2010 08:27

Disaster over at MTA this morning, so pleased I went with RRL 5 months ago when I was assessing both small oilys. Thank goodness for that. Thoughts with those burnt over there. Just need RRL to do the business here now.

[iloveit] 26/5/2010 08:06

wow thats a buy indicator for RANGE UP WE GO !

[sagem] 25/5/2010 22:20

GET READY FOR A BIG BOUNCE FTSE AND RANGE PLUS MOST STOCKS

U.S. stocks are "oversold" and likely to rebound to a level short of this year's high, according to Marc Faber, publisher of the Gloom, Boom & Doom report. The S&P 500 has slumped 12 percent from its 19-month high on April 23 amid concern the global economic rebound will be derailed as European governments struggle with swelling budget deficits.

"The market is near-term oversold," Faber said in a Bloomberg Television interview. "I don't think we'll go and make a new high above 1,219 on the S&P. But I think we can rally here somewhat."

To contact the reporter on this story: Rita Nazareth in New York at [e-mail]

Last Updated: May 25, 2010 16:52 EDT

[rugrat2] 25/5/2010 21:59

The March production figures for Smith 1 appeared late last week on the RRC site.

In the Quarterly report the gross production was estimated as approximately 73k MMcf of natural gas and 5,350 bbls of oil."

As you can see from the screenshot, the estimate was a little optimistic in the case of gas, but virtually spot-on for oil.



The stabilised middle zone production was given as 2.2-2.8Mmcf / day and 200-250 bbls /day after connection to the sales line around 21st February, according to the ASX announcements on 25/02/2010 and 16/03/2010.

That fits well with the February RRC figures, assuming 8 days production.

Looking at March, if that production rate was maintained, then the figures indicate that the well produced for 14-17 days only.

[greatfull dead] 25/5/2010 19:21

Watch out for an RNS stating Middle zone shut in and Fraccing has stated on the Bottom zone of Smith Well #1. All 3 zones are to be fracced.

GD

[gaps1] 25/5/2010 18:10

Africa oil up 6.67% today..

[alistair4444] 25/5/2010 17:05

Africa Oil Corp AGM Thursday 27th May

Vancouver, British Columbia, on Thursday, 27th day of May, 2010 at the hour of 11:00 a.m. (Vancouver time) for the following purposes:
1. To receive the consolidated audited financial statements of the Corporation for the year ended December 31, 2009, together with the report of the auditors thereon;
2. To appoint PricewaterhouseCoopers, LLP as auditor of the Corporation to hold office until the next Annual General Meeting, at a remuneration to be fixed by the directors of the Corporation;
3. To set the number of directors of the Corporation at five;
4. To elect directors to hold office until the next Annual General Meeting of the Corporation;
5. To confirm the Corporation's existing stock option plan;
6. To consider amendments to or variations of any matter identified in this Notice of Meeting; and
7. To transact such other business as may properly be brought before the meeting.

[ghaon] 25/5/2010 15:24

Thx Fairdeal - I'll have a look.

[fairdeal2008] 25/5/2010 15:18

Ghaon

I think Caza are pretty good option:

[ghaon] 25/5/2010 14:12

CNF - Any other O&G recommendations besides RRL? I am already heavily invested here and would like to spread the risk. What I like about RRL is the underpinning of much higher risk plays (Georgia & Puntland) with the Texas production. Your valued opinion would be most welcome. TIA

[notarealdr] 25/5/2010 12:19

Can't say for certain CNF about R-B reports this week but would be on par from reputation.
Possibility of an intersect somewhere in the 9,000' range judging by well geology of other operators but is not our target (Howell-Height ) sands at 12,500' -14,000' approx. However there are many faults in this area so it may be missed completely.

[gaps1] 25/5/2010 11:43

Many thanks Alistair444 and captain..

[captainnelsonforties] 25/5/2010 11:34

gaps,

Notarealdr posted it earlier.

Its about right given the previous ROP, but we'll need market conformation of that one yet. RRL have been putting out regular progress reports on this well. We should get another one at least this week before they slow up the ROP as they enter the zones of interest. Notarealdr has suggested that they're slowing down now. Certainly if they hit the expected pay in this well they'll take their time through the main reservoirs to avoid any possible damage or circulation issues and this one is likely to have the same high pressures as Smith-1, especially if the reservoirs are as oil and gas saturated. We'll get confirmation of this soon enough, just patience. Flow rates and Puntland rig mobilization, its all due in the next while according to that recent interview. Keep her steady and between the hedges and the value and upside will build until it eventually gives. Its slowly and surely falling into place piece by piece one well at a time. Texas is building value and Puntland and Georgia are in for free.

Captain Nelson Forties

[alistair4444] 25/5/2010 11:32

gaps1 Please look back to 6.30am very respected poster there indeed my friend.

[gaps1] 25/5/2010 11:24

Hi Alistar444,R-B down to 9,200,where did you get that news from regards g

[captainnelsonforties] 25/5/2010 11:22

Oh stop folks you're gonna make an ol' captain blush! lol

[captainnelsonforties] 25/5/2010 11:21

PR,

Apologies for me bing rather defensive. ;) I thought you were inferring that they were doing badly as a result of the share price this last couple of months. Just a crazy market at the moment where some remain good value, but some can have dramatic turn arounds. The two companies in question this morning are due for some production figures from the USA in the very near term. We'll hear on the other tread very very soon on that one PR. Also here we'll get the Smith-1 post-frac flow rates very soon and RB is making sterling progress at the moment if notarealdr is bang on the money at 9200ft. That's an impressive ROP and not long before we hit the potential money zones in that one too. If it encounters the same hc column as Smith and looks like its continuous, same corresponding payzones and flow rates than we're in the money on some P2 and P3 upgrades to P1 and P2 respectively. Also if Smith-1 responds beyond expectations after frac we could see an even better indy report commissioned. If we can get anywhere close to the $1.2m/month anticipated by mr Landau from these two wells it'll be happy days. ;)

Captain Nelson Forties

[alistair4444] 25/5/2010 11:14

Captain - Its because you freely post easy to understand out info for investors on small cap oil companies with good future potential that you have a large following who respect your views as you must know by now. Just like football supporters we follow the best and in my book you our Messi !!! now back to Range