Range Resources Share Discussion Threads

[monkey puzzle] 26/5/2010 15:37

C&C,

I agree that RRL is the best of the bunch but it's never a good idea to put all your eggs in one basket so I like to spread my interests areound a bit. I think both NTOG (news due out by 31 May) will amaze you with its price reaction and EME really can't get any lower now and I am in at 6p levels so happy to hold them too. As for SER, a rubbish little oiler for years and years but got a feeling this could be a big year for them...

[california joe] 26/5/2010 15:34

You've just done the research for him there Cashandcard lol!

Buy Flabby, buy lol!

[cashandcard] 26/5/2010 15:32

I am a holder of afr. They are set for a huge increase in production over the next 6months as the Ebok oilfield development comes online (15,000+bopd initially). IMO, afr is similar to tlw before the 'game-changing' Lake albert discoveries, 2006. Organic growth through asset exploitation and building ever larger reserves and production. Very solid with massive cashflows which are only going to grow and grow with the current business model. I don't think you've missed the boat but its always important to research it properly before you decide whether or not to take the plunge.

Cash

[california joe] 26/5/2010 15:25

AFR, plain and simple imo, Africas SAFEST oil investment! Indiginous company, unlikely to be attacked or ripped off. Tremendous long term potential.

[flabbydoog] 26/5/2010 15:20

whats your opinion on AFR - missed the boat?

[cashandcard] 26/5/2010 15:16

flabby,

I'll reserve judgement on FOGL. No, not an eme man as they have consistently not delivered. RRL have beaten to the finish line in terms of commercial success in texas. That is shameful considering eme got involved in the sugar years ago. Lately, they have been moving towards fair value. At some point their slide will end.

Cash

[geoffmanana] 26/5/2010 15:12

The 500k @ 3.75p in the ? column is my worked buy.
Just confirmed by my broker.

[flabbydoog] 26/5/2010 15:12

Not a FOGL or EME man than?

[cashandcard] 26/5/2010 15:09

Cali Joe,

Interesting you call this a 'bottom drawer gamble'. I would have agreed with you last year but after the success at texas, this is no longer just 'gamble'. Good that your in anyway.

MP

NTOG, EME? What can they offer that RRL can't? actually RRL offers bluesky while they offer 'light at the end of the tunnel'. Eme is a funny little company. Once upon a time they were looking for potentially some of the largest gas reserves in Europe. Didn't workout. Now they have an oilfield called eagle which has been dormant on their portfolio for years & a miniscule 3% interest in some eagleford shale wells after having spent tens of millions and diluted shareholders to hell. That is what you call a gamble.

Cash

[california joe] 26/5/2010 15:08

Bottom draw oilers: RRR, RRL, COV, VST, VOG

Under floorboads: SER

Miners: VGM

Top drawer (and top heavy): GKP, RKH and AFR

[flabbydoog] 26/5/2010 15:03

CJ

So who else do u have. I must confess to being very heavy into GKP with somewhat less here and RKH.

[monkey puzzle] 26/5/2010 15:01

Aye.....so have you also got any NTOG or EME stock?

[california joe] 26/5/2010 14:54

76,106 of the little bleeders! I have a lot of little oilers tucked away, usually £3-5k's worth as a bottom drawer gamble. Wish I'd done the same with RKH lol! If one of them do as well as that,it wouldn't matter if the rest were like SER!

[monkey puzzle] 26/5/2010 14:46

That's more like it!

Joe....I didn't know you had these?

[shugmonkey] 26/5/2010 14:45

Have we got a trainee working at the MM's.
I've seen more deleted trades in the last 2 days than in the last 9 months in this share.

[california joe] 26/5/2010 14:42

A dash of blue, I was beginning to wonder how many days of buys exceeding sells and how many more millions bought today than sold, before it ticked up!

[usher03] 26/5/2010 14:23

I just responded to a poster on the LSE board who was slightly worried regarding the possibility of us going the same way as MTA today...and as I started typing...it really made me think of the true potential we have here.

Novice2009:
Could anything similar happen to RRL or are we more advanced as to what is in the ground at our new driling sites as opposed to pure speculation and hope. It seems that MTA had been widely tipped to take off GKP stylie but then in the words of Bono " still haven't found what they're looking for "

Usher:
Things are different here. RRL have proven P1 Smith reserves which already underpin the current share price in relation to the market cap, therefore with the current drilling of RB1...this will increase the reserves and move more P3 to P2 and P2 to P1 thus increasing our market cap and share price accordingly. This is not to mention fraccing of Smith 1 which will provide a hopeful increase in reserves...especially not even considering Georgia and the massive potential in Puntland - which also should be near guaranteed reserves in the ground especially as the area was drilled over 18 years ago and oil seeps were found but wells were abandoned due to the political risk back then, therefore even the likes of Conoco know there is oil there from their previous drilling attempts 18+ years ago. Also, the fact that it is believed to be an extension to the Yemen rift system which has already provided billions of barrels of oil to the industry. Therefore bearing all of this in mind...I would imagine that you will not have to worry about RRL's share price mirroring MTA at all....and if you are here till this time next year, you may be looking at £'s not pence if all goes well.

Regards

[jemetpl] 26/5/2010 13:19

4 vs 2 125k playing 75k

[smartbeds4me] 26/5/2010 13:18

Can't believe that no tick up so far!!

[shugmonkey] 26/5/2010 13:18

Can anyone with L2 see how many more shares are around at 3.75p?

I can't believe they are holding this price unless we will se a big late sell trade.

[alistair4444] 26/5/2010 12:16

East Africa info

[geoffmanana] 26/5/2010 11:35

Thanks Captain.

[pheonix07] 26/5/2010 11:28

and don't forget Georgia Captain

all IMO opinion too Ü

[captainnelsonforties] 26/5/2010 11:15

GD,

Received and replied.

Geoff,

TMX.com epic over there is CAZ, states shares in issue as 119m approx CAD$8.9m or £6m, about the same as their current cash position. The company uses 145m in a recent presentation, but as far as I know that's fully diluted. I prefer to use shares in issue currently. Like Range you could use shares in issue too rather than fully diluted. By the time a share is actually fully diluted how many wells will it have producing. So I prefer to use current fundamentals and current well stock/reserves. By the time that RRL is fully diluted we could have a fully developed north chapman ranch delivering the $30m approx annual revenues and possibly a well in Puntland? Would that make up for more than the conversion of the options? I think just a smidgereen, and if Puntland flows on the scale of a 2bn bbls prospect make that a smidgereen x10 or x15. ;) All imo of course.

Captain Nelson Forties

[geoffmanana] 26/5/2010 11:03

Captain would you have the Market Cap of CAZA please......I'm having problems finding it.....Many thanks.