Range Resources Share Discussion Threads

[monkey puzzle] 10/6/2010 09:57

CNF,

o/t but if find the the time could you cast your eye over this for me?

Relates to a field in which EME are interested and where EK has recently taken a long position too.

TIA

[stoop] 10/6/2010 09:53

Agree about Encore I think we could get a nice upward movement before end of tomorrow as news expected next week.

[mr_dross] 10/6/2010 09:49

cnf but in contrast ... the day of the 700K sell .. i know of 3 500K+ buys as i made one of them ..

i think your right with the 2.9 p sellers .. but seems theres a hell of a lot more shares being bought than sold ... so we have to wonder why the mm's are holding us lower

JMO

Mr D

[cashandcard] 10/6/2010 09:47

CNF,

Quite a bit of good news here. I expect the take-up here to increase with further media exposure. Puntland on the horizon, the buildup has hardly begun. btw, our other star Encore is doing well today. Just wish there were more 'derisked' companies like these two.

Cash

[captainnelsonforties] 10/6/2010 09:41

barryrog,

Yes those smaller sells contribute some to it too, but it was the 700k, 400k + others that kept a steady supply of shares. Without those block sellers the mm's would have been moving up given the volume of buyers. Once these larger sellers from the 2.9p shares are cleared then we should be free to move into more positive territory. It was the Oz holders that stifled the current rise the other day not RHPS traders. So I reckon we can agree to differ on this.

Captain Nelson Forties

[alistair4444] 10/6/2010 09:24

In just over 1 hour of trading this morning LSE/Plus markets now 2 mill shares traded
ASX traded a total of 1.1 mill at the close.

[wardy3] 10/6/2010 09:03

4.56p for 100k offered today.

[barryrog] 10/6/2010 08:54

Captain,
thats simply not true.
the shares sold yesterday were predominantly from short termers who had bought on monday and tuesday and it happens accross the board on AIM penny shares.
you here people say often enough when a share is undervalued - " the stock market doesn't lie".
of course it doesn't lie but in the case of the majority of AIM penny shares the price is heavily influenced by the activities of t traders,CFD's,spread betting and far less by medium/long term investors.

[captainnelsonforties] 10/6/2010 08:39

barry,

They are insignificant. Its not those trades that's holding us back, just a couple of days ago there was a trade over here for a sell just over 750k. Its trades like that holding us back and I bet they were acquired at 2.9p.

Captain Nelson Forties

[captainnelsonforties] 10/6/2010 08:37

GD,

Get well soon chap, there are a few nasty sniffles going around at the moment. A good time to get some rest and catch the world cup! :)

Captain Nelson Forties

[greatfull dead] 10/6/2010 08:15

I want to see the frac results from Texas Smith Well#1. 1st things 1st.

Back to bed for a few hours as I have a stinking cold.
GD

[captainnelsonforties] 10/6/2010 07:50

Potts,

Aye me harty, pirates off the starboard bow. Man the cannons!

Captain Nelson Forties

[bigneil9] 10/6/2010 07:46

Get it here hawks :)

[hawks11] 10/6/2010 07:43

The latest by Edison on Stockapedia but I can't download the full report yet but it looks to be more of the same and 15.5p valuation. It is dated 090610 but looks as if it probably the same as I have read recently. As I said I can't download it yet, there is some error in their system so I can't say if there is anyhing new.

[alistair4444] 10/6/2010 01:56

RRL shares traded on : ASX this week stands presently at 26 million -
On the LSE/Plus in the UK this week --- 91 million

[pottingon] 09/6/2010 22:51

Has anyone seen a Pirate? Missing one, from the G-p surgery.
Potts.

[fairdeal2008] 09/6/2010 22:09

MiningMaven updated with broker reports and radio interview links:

[notarealdr] 09/6/2010 22:09

phoenix, perhaps I forgot to mention before but any AOI ann. on rig mob. will be conditional on securing another farm-in to cover their costs?

[dr jekyll] 09/6/2010 19:21

Appreciate the regular updates Alistair from you too as well as from steelwatch.

Seems to me that a majority of those trades were buys as well and also were mainly buys recently. We will have to see some progress in the share price soon. Sells are probably rights issue sellers as CNF has suggested. If it hadn't been for them the share price would have been much higher imho.

[california joe] 09/6/2010 18:20

Let's hope so then, sick of red, red and red!

[fillipe] 09/6/2010 17:53

Quiet here on RRL.....compared to the iii board where they're in a right old lather after the Edison Outlook report of today. Really up to the eyeballs in multibags and the rest, at the other place.

I'd be very surprised if there isn't a worthwhile uptick from now on.....starting tomorrow a.m.

f

[alistair4444] 09/6/2010 16:55

Today at close 15,937533 shares traded on LSE/Plus markets
Making a total this week so far of 91 million RRL shares

[sagem] 09/6/2010 16:53

Africabn Oil aoi is up 2.5% in Canada

[usher03] 09/6/2010 15:47

We see Range Resources as primarily a frontier exploration play, but with a growing and potentially cash-generative US adjunct. It is now entering a very interesting phase with a wildcat well scheduled for late 2010 in the highly prospective Puntland region of Somalia. Based on the Yemen analogue we believe Puntland could prove a company maker for Range. The stock is still very much at the undiscovered stage and reflects little value for the Puntland and Georgia plays.
Puntland: Major resource potential Range has a 20% stake in two large licence blocks. Puntland is believed to be one of the last remaining lightly explored onshore regions that have large sedimentary basins capable of hosting multi-billion barrel reserves. Puntland's sedimentary basins are
considered analogous to the prolific petroleum producing basins to the north in Yemen. We believe un-risked recoverable reserves could be around 4.6bnbbls based on independent assessments of oil initially in place of 18.2bnbbls.
Republic of Georgia: Early stage exploration project Georgia is a quasi frontier zone for oil exploration based on two large sedimentary basins, the Kura in the east and the Rioni/Black Sea in the west. Range has an early
stage 50:50 exploration joint venture in two very large blocks in the latter. RPS Energy has tentatively estimated potential gross recoverable reserves of 383mmbbls for one of the blocks. An exploration well is possible in 2011.
Texas: So far highly successful
In September 2009 Range acquired a 25% stake in the first well of the North Chapman Ranch project located on the prolific Frio sandstone formation in southern Texas. The deal involved a modest outlay and has so far proved highly successful, reflecting a discovery last December and the early commencement of production.
Valuation: Considerable upside

We believe Range can justify a valuation of £137m or 15.5p/share. This is based on a sum of the parts calculation using estimates of the resource potential and valuations per barrel of oil equivalent (boe) by project. Overall, the valuation reflects a price of US$0.71/boe, given our estimate of the risked resource potential of 284mmbbls.