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Share Name Share Symbol Market Type Share ISIN Share Description
Range Resources Limited LSE:RRL London Ordinary Share AU000000RRS3 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 0.025p 0 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 7.32 -8.96 -0.13 2.6

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Date Time Title Posts
24/5/201915:39Range Resources - A New Beginning20,054
19/4/201919:15Range Resources - A New Beginning11
18/12/201801:09Range Resources - To Puntland and beyond.54,067
16/12/201815:07RRL RANGE RESOURCES LTD (moderated)463
30/10/201800:19Malcolm Graham-Wood bullish on Range Resources LTD live on TipTV10

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DateSubject
24/5/2019
09:20
Range Resources Daily Update: Range Resources Limited is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker RRL. The last closing price for Range Resources was 0.03p.
Range Resources Limited has a 4 week average price of 0p and a 12 week average price of 0.02p.
The 1 year high share price is 0.28p while the 1 year low share price is currently 0.02p.
There are currently 10,243,998,615 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Range Resources Limited is £2,560,999.65.
30/4/2019
08:51
lewisyfawr: The poster on lse invested £44k and is now down by £14k on original investment, I believe. I invested £5k just over 5 years ago and am now down about £900. Troll invested about £350k and was down to $140k when he sold out in 2012. Life-changing, in his case. Not happy sums for any of us though. Why troll continues to be interested when it must remind him of a "successful" foray into AIM investment that hit the buffers very spectacularly (thanks to PL - and PL only). I will "wash my face" finally on Range if share price rises to 0.11p after suspension. And I rather think Land Ocean will also be keen that Range achieves that share price soon. Biggest disappointment for me was that the Infrastructure and Drilling Plan that Lubing brought to table 12 months ago was funded in August last year and yet has never apparently happened. We are still on home base with Beach Marcelle SE.
15/3/2019
08:32
aseyho: " Good and encouraging post from ASEYHO from 10 days ago. Good prophesy as there has been some selling in last 10 days. Hope the rest of prophesy comes true also." Not a prophesy, just common sence, if you believe the share price will fall you should sell up untill you believe the share price will rise.
14/3/2019
10:29
nas_daq: Note the last sentence and is the reason the regulators blocked the purchase of new assets by range indefinitely.... Those who have been around the AIM market for a while will probably remember a company called Range Resources (RRL), and its infamous CEO Peter Landau. It was tipped by some to be the next big thing on AIM in the resources sector, but the reality proved to be a long way from all the expectation, with the share price plummeting from a high and a lot of questions being asked about the way that Landau had been running the company and the many promises that he had made via RNSs, many of which turned out to be false. A fair bit has changed since the company eventually ended up delisting from AIM, but now it is back, and I suspect that is largely down to the amount of debt that it currently has and the fact that it is probably going to have to raise money via equity funding in the future. Currently the company has producing assets in Trinidad and licences in Indonesia, where it holds a 23% working interest in the Perlak field, rising to 42% once it has completed a work programme, which includes 3D seismics plus well workovers. In Trinidad it owns 100% of the Morne Diablo, Beach Marcelle and South Quarry licences, along with 80% in St Mary’s, and a further 80% of Guayaguayare Deep and 65% of Guayaguayare Shallow – although the production sharing contracts at the latter two have expired and the company is awaiting government approvals on new ones. The problem for the company has always been that it has been unable to drill shallow wells with low levels of production fast enough to outweigh depletion. Judging by the most recent production report for the three months up until the end of June not a lot had changed in that regard, with average daily production of 531bopd, down from 567bopd during the previous quarter. During the quarter the cash position of the company had also reduced by $2.4 million. This left the company with $17.5 million in the bank at that time, and since then it has announced a deal with Land Ocean to purchase Range Resources Drilling Services for $5.5 million – payable within three years and with annual interest of 6%. As part of the deal Land Ocean also agreed to reduce interest payments on the outstanding balance due to it of $39 million (including the $20 million convertible note which was issued back in February) from 10% to 6%. The biggest problem here is that although changes have been made, the company has still been running at a significant loss – the last set of financials, the interims up until the end of 2016, showed that the company had made a loss of around $9 million in six months, ignoring a large impairment charge. The last quarterly update, up to the end of June 2017 showed an improvement, with net cash inflows of just over $1 million, ignoring loan repayments of nearly $3.6 million, but given the size of the debt, plus the likely cost of work programmes – during that quarter the company spent just $230,000 on exploration and development, as compared to nearly $2.6 million for the full year – it is hard to see it making a net profit any time soon. It has since spent $3.2 million on the Perlak field acquisition, and although that has reserves and resources for oil-in-place of up to 500 million barrels, this is a field which has been producing since the 1940s and it will be interesting to see how good the economics are once a field development plan is put in place. Often there is a good reason why many of these old fields subsequently stopped producing and are often sold at a price which appears to be cheap. It also purchased several offshore blocks in Trinidad from Trinity Exploration (TRIN) for $4.55 million. These include 2P reserves of 2.6mmbbls and daily production of around 200bopd, taking Range’s total to circa 800bopd. Given the problems that Trinity has had making these assets profitable for the company on a net basis in the past, it will be interesting to see how Range Resources fares with them. At the moment the company still has plenty of cash in the bank – especially with the some of the payments associated with these acquisitions being deferred – but I’m not convinced that the company is going to become profitable enough to meet its debts which fall due in April 2020, as well as carrying out all the work that it is proposing, even with the higher oil prices. Given that Land Ocean has just entered into a factoring agreement which means that the debt owed by Range has been passed on to Huayuan and Sichuan XW Bank, it may well be the case that Land Ocean won’t be looking to extend the $39 million odd debt past maturity. It may look attractive at a current market cap of around £19 million at a share price of 0.3p to buy, given that it is producing oil, but I certainly wouldn’t be rushing to buy the shares and still see it as a company to avoid, especially given the involvement of a number of Chinese companies.
04/3/2019
13:58
aseyho: "Looks like share price might be heading north this morning. So, agree with QANTAS. share price and oil hammering up. " Ive just looked, I take it I missed all the excitement this morning with the sales price hammering up, hopefully someone made money, unfortunately it's static with a 20% spread now. I must just be unlucky, the share price is always hammering up when I'm busy and always at near all time lows when I manage to get logged on.
22/2/2019
14:33
lewisyfawr: I repeat what I said, ASEYHO. Share price has been remarkably unexciting since November. I am not denying that it hasn't provided opportunities to make a bit of cash, but we are talking about an insignificant 20th of a penny even at height. Sp needs to 14x to get to .7p forecast last year by Range brokers and Malcolm Hill-Wood. And many shareholders feel that is a mediocre and very unsatisfactory share price You are right in percentage terms - yes, it did rise and fall a lot recently. But with spread and very low volumes and very few sellers at these prices, not exciting for anyone who wants to buy shares for more that a day or two, is it? I think nas and ron (aka chuckle brothers) have contributed to our discussion, but as I have him on filter I have no idea what point he makes and agrees with himself about. Probably having a pop at a shareholder other than me - that seems to be his only interest in his closeted life. Just hope it's not you.
01/2/2019
14:01
aseyho: "ASEYHO - ego’s won’t allow this sensible suggestion" My point was not aimed at our Welsh holders, more just a general point. If we know that share price will fall, which is almost a certainly, and the fall has to be material as they have published a share issue of 50% shares currently in the market to 13b. If we know this, which we do, and we know that must decrease the share price, then what benefit is there to hold, rather than sell now, possibly crystallise a loss and buy back in at a lower price, increasing your holding.
18/1/2019
08:13
nas_daq: THINGS ARE A WHOLE LOT WORSE WHEN THIS JOURNALIST WROTE THIS Those who have been around the AIM market for a while will probably remember a company called Range Resources (RRL), and its infamous CEO Peter Landau. It was tipped by some to be the next big thing on AIM in the resources sector, but the reality proved to be a long way from all the expectation, with the share price plummeting from a high and a lot of questions being asked about the way that Landau had been running the company and the many promises that he had made via RNSs, many of which turned out to be false. A fair bit has changed since the company eventually ended up delisting from AIM, but now it is back, and I suspect that is largely down to the amount of debt that it currently has and the fact that it is probably going to have to raise money via equity funding in the future. Currently the company has producing assets in Trinidad and licences in Indonesia, where it holds a 23% working interest in the Perlak field, rising to 42% once it has completed a work programme, which includes 3D seismics plus well workovers. In Trinidad it owns 100% of the Morne Diablo, Beach Marcelle and South Quarry licences, along with 80% in St Mary’s, and a further 80% of Guayaguayare Deep and 65% of Guayaguayare Shallow – although the production sharing contracts at the latter two have expired and the company is awaiting government approvals on new ones. The problem for the company has always been that it has been unable to drill shallow wells with low levels of production fast enough to outweigh depletion. Judging by the most recent production report for the three months up until the end of June not a lot had changed in that regard, with average daily production of 531bopd, down from 567bopd during the previous quarter. During the quarter the cash position of the company had also reduced by $2.4 million. This left the company with $17.5 million in the bank at that time, and since then it has announced a deal with Land Ocean to purchase Range Resources Drilling Services for $5.5 million – payable within three years and with annual interest of 6%. As part of the deal Land Ocean also agreed to reduce interest payments on the outstanding balance due to it of $39 million (including the $20 million convertible note which was issued back in February) from 10% to 6%. The biggest problem here is that although changes have been made, the company has still been running at a significant loss – the last set of financials, the interims up until the end of 2016, showed that the company had made a loss of around $9 million in six months, ignoring a large impairment charge. The last quarterly update, up to the end of June 2017 showed an improvement, with net cash inflows of just over $1 million, ignoring loan repayments of nearly $3.6 million, but given the size of the debt, plus the likely cost of work programmes – during that quarter the company spent just $230,000 on exploration and development, as compared to nearly $2.6 million for the full year – it is hard to see it making a net profit any time soon. It has since spent $3.2 million on the Perlak field acquisition, and although that has reserves and resources for oil-in-place of up to 500 million barrels, this is a field which has been producing since the 1940s and it will be interesting to see how good the economics are once a field development plan is put in place. Often there is a good reason why many of these old fields subsequently stopped producing and are often sold at a price which appears to be cheap. It also purchased several offshore blocks in Trinidad from Trinity Exploration (TRIN) for $4.55 million. These include 2P reserves of 2.6mmbbls and daily production of around 200bopd, taking Range’s total to circa 800bopd. Given the problems that Trinity has had making these assets profitable for the company on a net basis in the past, it will be interesting to see how Range Resources fares with them. At the moment the company still has plenty of cash in the bank – especially with the some of the payments associated with these acquisitions being deferred – but I’m not convinced that the company is going to become profitable enough to meet its debts which fall due in April 2020, as well as carrying out all the work that it is proposing, even with the higher oil prices. Given that Land Ocean has just entered into a factoring agreement which means that the debt owed by Range has been passed on to Huayuan and Sichuan XW Bank, it may well be the case that Land Ocean won’t be looking to extend the $39 million odd debt past maturity. It may look attractive at a current market cap of around £19 million at a share price of 0.3p to buy, given that it is producing oil, but I certainly wouldn’t be rushing to buy the shares and still see it as a company to avoid, especially given the involvement of a number of Chinese companies.
17/1/2019
13:09
rangenoresources: Great post on Worldstocks "RNS from Range STATEMENT RE SHARE PRICE MOVEMENTThe Company notes the recent rise in its share price and confirms that it knows of no corporate or operational reason for this share price movement.Phew! For a moment, I thought there was something they weren't telling us!"
09/1/2019
16:56
nas_daq: Over the years the one area of growth where Range Resources (RRL) has really excelled has been the number of shares in issue, with 8.5 billion of them now trading following the latest placing. The oil and gas company, which has interests in Trinidad and Indonesia, announced last week that it has completed yet another placing, and this time it raised £1 million at a share price of 0.11p. It states that the funds will be used to accelerate growth in the Trinidad assets, but I can’t help but think that we’ve heard it all before, and in the past these operations have never actually managed to put the company in a position where it is making a profit, as opposed to continually having to raise funds via equity in order to keep the lights on, as well as enabling it to carry out work to make it look like some progress is being made. The problem with the Trinidad assets has always been the levels of depletion that the wells have experienced after initially returning some promising looking figures immediately following workovers. This has basically meant that the company was pumping money into these work programmes and achieving enough for investors to get excited for a short period of time as strong production increases were shown, before the inevitable depletion kicked in and the figures dropped off. The last quarterly report up to the end of March showed a 16% increase in production to 731 bopd, and by late May that had grown to 820bopd. That growth has largely been from the Beach Marcelle field and has been as a result of optimisation work being completed on 34 wells, with 24 more to come, and in addition oil handling facilities have been upgraded and an additional truck has been acquired for deliveries. That all sounds great, but even with oil prices at the levels they’ve been, I would still expect the company to be making a net loss overall. If we go back to the last quarterly report, the company netted revenue of $3.5 million, but during the same period it also spent $1.37 million on development; $822,000 on production; $1.58 million on staff; and a further $1.2 million on admin and corporate costs (which seems incredibly high and took the total to $2.27 million for nine months), and as a whole meant it made a loss of $808,000 on its operating activities. If we look at the predicted expenditure for the quarter up until the end of June, that was predicted to be $4.6 million in total, with a further $1.4 million being spent on development. So, during the period that would mean that roughly 90bopd have been added – assuming that production hasn’t increased significantly since the end of May – and if we are very generous and assume that was the average increase per day over the period, then that would mean an extra 9,000 barrels on the previous quarter. Now, even allowing for additional revenue as a result of higher oil prices during the period – again being really generous and assuming a 10% improvement in the revenue of an equivalent number of barrels to that being produced in Q1, and revenue of circa $3.86 million, then that would mean that in order for it to have broken even operationally, those extra 9,000 barrels of oil would have needed to bring in revenue of over $90/barrel. Certainly, at the moment, it would appear that once again the company is spending heavily to increase production, but in a way that is unlikely to be sustainable if past results are anything to go by. It does also have the Perlak field in Indonesia, which it acquired a 23% stake in last year in return for payments of up to $3.2 million, and that will rise to 42% once the current work programme has been completed. That involves the re-opening of up to ten previously producing wells, plus workovers on two more over as three year period, and Range’s share of those costs will be $2.28 million. This work is expected to add up to 200bopd – upon completion that would be 84bopd net to the company. At the last financial update at the end of March the company had $9.5 million in the bank, although that will be less now due to work carried out, and for a company valued at £8.7 million odd some will think that it looks cheap on that basis. But if we look at the outstanding debts, it had more than $41.5 million in long term loans with LandOcean as at the end of 2017, although maturity is in excess of two years, plus a further $1.3 million in current borrowings. On top of that it also has trade payables, in both the current and non-current category, of nearly $66 million, with $39.7 million of that payable to LandOcean in April 2020 and currently attracting a 6% interest rate – or nearly $2.4 million per annum in interest. So, based on the current situation it is hard to see how the company is even going to turn any sort of meaningful net profit on a sustainable basis over a period of time, let alone ever be in a position to repay its debts. The fact that at the end of March the company announced that its planned work programmes in Trinidad and Indonesia were fully funded, yet just a few months later it has raised yet more funds for those – it may be the case that it accelerates work at these fields, but given that the planned work is still underway, I would have expected that to be completed before any more money was raised, given the amount of cash it already had in the bank. I last covered this company as one to carry on avoiding like the plague, back at the end of 2017 when the share price was 0.3p, and even though it has now dropped to 0.12p to buy, I still can’t see any value in taking a position. It may see the odd spike upwards along the way as positive drilling results come in – as they are likely to given the nature of this work – but nothing here suggests to me that it is a decent investment.
09/1/2019
13:04
nas_daq: Better to have a report from someone who knows what they are talking about 🤣 Those who have been around the AIM market for a while will probably remember a company called Range Resources (RRL), and its infamous CEO Peter Landau. It was tipped by some to be the next big thing on AIM in the resources sector, but the reality proved to be a long way from all the expectation, with the share price plummeting from a high and a lot of questions being asked about the way that Landau had been running the company and the many promises that he had made via RNSs, many of which turned out to be false. A fair bit has changed since the company eventually ended up delisting from AIM, but now it is back, and I suspect that is largely down to the amount of debt that it currently has and the fact that it is probably going to have to raise money via equity funding in the future. Currently the company has producing assets in Trinidad and licences in Indonesia, where it holds a 23% working interest in the Perlak field, rising to 42% once it has completed a work programme, which includes 3D seismics plus well workovers. In Trinidad it owns 100% of the Morne Diablo, Beach Marcelle and South Quarry licences, along with 80% in St Mary’s, and a further 80% of Guayaguayare Deep and 65% of Guayaguayare Shallow – although the production sharing contracts at the latter two have expired and the company is awaiting government approvals on new ones. The problem for the company has always been that it has been unable to drill shallow wells with low levels of production fast enough to outweigh depletion. Judging by the most recent production report for the three months up until the end of June not a lot had changed in that regard, with average daily production of 531bopd, down from 567bopd during the previous quarter. During the quarter the cash position of the company had also reduced by $2.4 million. This left the company with $17.5 million in the bank at that time, and since then it has announced a deal with Land Ocean to purchase Range Resources Drilling Services for $5.5 million – payable within three years and with annual interest of 6%. As part of the deal Land Ocean also agreed to reduce interest payments on the outstanding balance due to it of $39 million (including the $20 million convertible note which was issued back in February) from 10% to 6%. The biggest problem here is that although changes have been made, the company has still been running at a significant loss – the last set of financials, the interims up until the end of 2016, showed that the company had made a loss of around $9 million in six months, ignoring a large impairment charge. The last quarterly update, up to the end of June 2017 showed an improvement, with net cash inflows of just over $1 million, ignoring loan repayments of nearly $3.6 million, but given the size of the debt, plus the likely cost of work programmes – during that quarter the company spent just $230,000 on exploration and development, as compared to nearly $2.6 million for the full year – it is hard to see it making a net profit any time soon. It has since spent $3.2 million on the Perlak field acquisition, and although that has reserves and resources for oil-in-place of up to 500 million barrels, this is a field which has been producing since the 1940s and it will be interesting to see how good the economics are once a field development plan is put in place. Often there is a good reason why many of these old fields subsequently stopped producing and are often sold at a price which appears to be cheap. It also purchased several offshore blocks in Trinidad from Trinity Exploration (TRIN) for $4.55 million. These include 2P reserves of 2.6mmbbls and daily production of around 200bopd, taking Range’s total to circa 800bopd. Given the problems that Trinity has had making these assets profitable for the company on a net basis in the past, it will be interesting to see how Range Resources fares with them. At the moment the company still has plenty of cash in the bank – especially with the some of the payments associated with these acquisitions being deferred – but I’m not convinced that the company is going to become profitable enough to meet its debts which fall due in April 2020, as well as carrying out all the work that it is proposing, even with the higher oil prices. Given that Land Ocean has just entered into a factoring agreement which means that the debt owed by Range has been passed on to Huayuan and Sichuan XW Bank, it may well be the case that Land Ocean won’t be looking to extend the $39 million odd debt past maturity. It may look attractive at a current market cap of around £19 million at a share price of 0.3p to buy, given that it is producing oil, but I certainly wouldn’t be rushing to buy the shares and still see it as a company to avoid, especially given the involvement of a number of Chinese companies.
Range Resources share price data is direct from the London Stock Exchange
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