Riverfort Global Opportu... Share Discussion Threads

[jonno1] 18/10/2014 08:07

OMG only just seen this, should of bought a few more when they announced the placing but as there hasn't been any news for three years thought better of it...shame about ISIS !

[roily] 17/10/2014 19:39

Range Energy Resources Inc.

CNSX : RGO
FRANKFURT : YGK


Range Energy Resources Inc.


October 17, 2014 14:25 ET

Declaration of Commerciality on Khalakan Block






VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2014) - Range Energy Resources Inc. (the "Company") (CSE:RGO)(FRANKFURT:YGK) announces that, on October 16, 2014, Gas Plus Khalakan ("GPK"), the sole contractor of the Khalakan Block in the Kurdistan Region of Iraq, announced by press release that it has declared the Shewashan light oil discovery commercial under the terms of the Khalakan Production Sharing Contract (the "PSC") and is preparing a Field Development Plan for submission to the Ministry of Natural Resources ("MNR") of the Kurdistan Regional Government. The full press release is below.

The Company is a 24.95% indirect shareholder of GPK through its ownership of 49.9% of the shares of New Age Alzarooni 2 Limited ("NAAZ2"). NAAZ2 owns 50% of the shares of GPK.

Toufic Chahine, the Chairman of the Company's Board of Directors said: "We are pleased to hear the news although the Company still hopes for more cooperation with our joint venture partners so that we could work together to achieve the best possible result for all."

Range has no additional information on the extent of the discovery, including the number of barrels of oil that tests show can be produced from the Shewashan-1 well. Despite the favorable arbitration award that an arbitration panel issued last May that supports the Company's right to obtain material information as to its investments in the Khalakan Block, neither NAAZ2 nor Black Gold Khalakan Limited, the other shareholder in NAAZ2, have complied with the arbitration award and provided Range with material information regarding the operations on the Khalakan Block. The Company will continue to pursue its rights and remedies in an effort to obtain material information on Khalakan Block operations that it can report to its shareholders.

GPK Press Release:

"GAS PLUS KHALAKAN LIMITED

Registered Number: 103025

Registered Office: Nautilus House, La Cour des Casernes, St. Helier, JE1 3NH

October 16, 2014

GPK DECLARES COMMERCIALITY FOR THE SHEWASHAN LIGHT OIL DISCOVERY IN THE KURDISTAN REGION OF IRAQ

GPK has declared the Shewashan light oil discovery commercial and is preparing the Field Development Plan (FDP) for submission to the MNR in accordance with the Khalakan PSC.

Shewashan-1 produced light oil (45API) on test from reservoir zones in the Cretaceous Shiranish, Kometan and Qamchuga formations. The Shewashan-1 well will now be put on production to gather data ahead of the final FDP approval.

Steve Lowden, Director of GPK, said: The Shewashan discovery establishes GPK as a production Operator in the KRG's expanding oil and gas industry and has demonstrated the potential for significant quantities of light oil to complement the country's growing reserves base.

Dr Ashti Hewrami, KRG Minister for Natural Resources, said: We are pleased with this new light oil discovery which will contribute to our stated target of 1 million barrels of oil per day by the end of 2015 / early in 2016.

Further Information

Additional Information on the Shewashan Field Block

Shewashan was the second exploration prospect drilled by GPK on the Khalakan Block situated between the TaqTaq and Miran fields. The field is now delineated with a 122 km2 Production Area.

On Behalf of the Board of Directors:

(signed) 'Steve Lowden'

Steve Lowden, Director"

Although the Company believes the information in GPK's news release to be reliable, it cannot guarantee its accuracy. The Company assumes no responsibility as to the accuracy or completeness of any information contained in GPK's news release or in this news release, which the Company has obtained from public sources.

For additional information on GPK and the Khalakan Block, see New Age African's Annual Report and Financial Statements for the year ended December 31, 2013 (search for New Age African using JFSC submission form) [hxxps://www.jerseyfsc.org/registry/documentsearch/]

For further information on Range Energy Resources Inc., please visit the Company's web site at www.rangeenergyresources.com.

On Behalf of the Board of Directors:

Toufic Chahine, Chairman

This news release contains certain statements that may be deemed to include "forward-looking information". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Range Energy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Range Energy's management on the date the statements are made. Except as required by law, Range Energy Resources Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

THE CSE AND FRANKFURT STOCK EXCHANGES HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.

[roily] 17/10/2014 18:41

IIROC Trading Halt - RGO

TORONTO, Oct. 17, 2014 /CNW/ - The following issues have been halted by IIROC:
Company: Range Oil Resources Inc.
CSE Symbol: RGO
Reason: Pending News

Halt Time (ET): 12:11 PM ET
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC)

IIROC Inquiries 1-877-442-4322 (Option 2) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Copyright CNW Group 2014

Source: Canada Newswire (Oct 17, 2014 12:26:00 EDT)

News by QuoteMedia
www.quotemedia.com
Read more at hxxp://www.stockhouse.com/companies/bullboard/c.rgo/range-energy-resources-inc#y0MHWyy5EWyUCU2a.99

[roily] 17/10/2014 12:33

hxxp://www.oilandgastechnology.net/upstream-news/gpk-prepares-khalakan-drilling-campaign-kurdistan


GPK prepares Khalakan drilling campaign in Kurdistan

Submitted by Paddy Harris on 17th October 2014

GPK (Gas Plus Khalakan) has declared the Shewashan light oil discovery commercial and is preparing the field development plan (FDP) for submission to the Kurdistan ministry of natural resources (MNR) in accordance with the Khalakan PSC

GPK prepares Khalakan drilling campaign in Kurdistan

“The Shewashan discovery establishes GPK as a production operator in the KRG's expanding oil and gas industry and has demonstrated the potential for significant quantities of light oil to complement the country's growing reserves base,” said Steve Lowden, director of GPK.

Shewashan-1 produced light oil (45API) on test from reservoir zones in the Cretaceous Shiranish, Kometan and Qamchuga formations. The Shewashan-1 well will now be put on production to gather data ahead of the final field development plan approval.

“We are pleased with this new light oil discovery which will contribute to our stated target of 1 million barrels of oil per day by the end of 2015 / early in 2016,” said Ashti Hawrami, Kurdistan Regional Government minister for natural resources.

Shewashan was the second exploration prospect drilled by GPK on the Khalakan Block situated between the TaqTaq and Miran fields. The field is now delineated with a 122 square kilometre production area.

[roily] 17/10/2014 12:12

One more link so this looks to be legit.

hxxp://www.newswire.ca/en/story/1429460/gpk-declares-commerciality-for-the-shewashan-light-oil-discovery-in-the-kurdistan-region-of-iraq

[roily] 17/10/2014 11:23

Still checking the validity of this.


GPK Declares Commerciality for the Shewashan Light Oil Discovery in the Kurdistan Region of Iraq

LONDON, England, Oct. 17, 2014 /CNW/ - GPK has declared the Shewashan light oil discovery commercial and is preparing the Field Development Plan (FDP) for submission to the MNR in accordance with the Khalakan PSC.

Shewashan-1 produced light oil (45API) on test from reservoir zones in the Cretaceous Shiranish, Kometan and Qamchuga formations. The Shewashan-1 well will now be put on production to gather data ahead of the final FDP approval.

Steve Lowden, Director of GPK, said: The Shewashan discovery establishes GPK as a production Operator in the KRG's expanding oil and gas industry and has demonstrated the potential for significant quantities of light oil to complement the country's growing reserves base.

Dr Ashti Hawrami, KRG Minister for Natural Resources, said: We are pleased with this new light oil discovery which will contribute to our stated target of 1 million barrels of oil per day by the end of 2015 / early in 2016.

Further Information

Additional Information on the Khalakan PSC

Shewashan was the second exploration prospect drilled by GPK on the Khalakan Block situated between the TaqTaq and Miran fields. The field is now delineated with a 122 km2 Production Area.

SOURCE GAS PLUS KHALAKAN LIMITED

[seaclipper] 22/7/2014 08:34

Well i take the latest news as good news as the placing was just under the existing price, the placed must have some info from the co otherwise they would not have invested.

"The capital from the Offering will be used by the Company to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue ".

For sure they have found oil and or gas, you cannot develop anything if there is nothing to develop from, the market is aware of the facts hence the lifting of the stock.

Lets be possitive from these news snippets, clutching at straws but we have to read whats there and come to our own conclusions imop.

[seaclipper] 21/7/2014 21:02

Must be the placing, however the mkt judges it as good news for RGO and thats ok with me so let it tick, up of course.

[roily] 21/7/2014 18:18

Don't get too excited as one small trade is responsible for the up tick. Not sure why Scotia would have bid it up 50%?? RGO did announce a private placing today however.

Jul 21, 10:56 0.100 0.035 1,000 CIBC World Markets Inc. Scotia Capital Inc.
Jul 21, 10:12 0.065 0.000 26,000 National Bank Financial Canaccord Genuity Corporation

[seaclipper] 21/7/2014 17:23

Nice spike so far today why, but will it hold though ?

[roily] 28/6/2014 12:42

In the US, so TDA, Merril Lynch and etrade. I have a foreign market account but I am buying RGOZF which adds even more risk because of the lack of liquidity.

[jonno1] 28/6/2014 10:13

ditto, but I was buying VST at a far higher price than where we are now, hence my reasoning, not such a gut wrenching loss than buying say 25000@ 4 Cents than 25k @40 Cents, anyhow as much as I try cannot find ANY new info on Khalahan anywhere.
Any positive announcement of a find would see a huge gap up due to the current market cap? I would suspect, and it's almost impossible to buy this stock. I can sell it with TDW but can no longer buy it, although I can buy RGOZF through them.,,which would be the only way I could top up as far as I can see at the moment.
What broker are you using out of interest?

[roily] 27/6/2014 19:56

Tempting yes but you really don't know what you would be buying. I would love to buy 50,000 more shares but until I know they have something I have to watch. Learned my lesson with VST.

[roily] 25/6/2014 17:32

Gulf/Crest have to know something don't they? I am trying understand what the reason is for NAAZ2 fighting to release any information. They don't have to answer to share holders so it is not like they are trying to hide bad news so they get crushed in the market. There has to be something much bigger at play here and someone does not want the news out in the public domain.

[thelung] 25/6/2014 08:27

Jonno, looks like you need to call in the help of 'super' bob5

[jonno1] 24/6/2014 21:19

strewth!

Range Energy Resources Inc.: Respondents Challenge Arbitration Award
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 23, 2014) - Range Energy Resources Inc. (the "Company") (CSE:RGO)(FRANKFURT:YGK) announces that, on June 20, 2014, New Age Alzarooni 2 Limited ("NAAZ2") and Black Gold Khalakan Limited ("BGKL") commenced a proceeding in an English court to challenge the arbitration award that was recently issued in the Company's favor.
As previously reported, on May 27, 2014, the International Chamber of Commerce ("ICC") notified the Company of the final award issued in the arbitration proceeding that the Company commenced against NAAZ2 and BGKL. The arbitration tribunal awarded the Company orders and declarations which support the Company's right to obtain material information as to its investments, and to use such material information (which the Company must otherwise hold confidential) to produce public summaries of the status of the work at the Khalakan Block as is necessary to comply with applicable securities laws.
The Company owns 49.9% of the shares of NAAZ2, which in turn is the owner of 50% of the shares of Gas Plus Khalakan ("GPK"), the sole contractor for the Khalakan Block. BGKL owns the remaining shares of NAAZ2.
The Company commenced these arbitration proceedings on July 20, 2012 against NAAZ2 and BGKL. The Company commenced the arbitration to compel NAAZ2 to obtain from GPK material information regarding the development of the Khalakan Block and to confirm the Company's right to disclose to the public certain material information regarding this development.
NAAZ2 and BGKL are each challenging before the English court the power of the arbitration tribunal to provide the remedy granted to Range in the arbitration award as well as the procedure the arbitration tribunal adopted to reach its findings.
Toufic Chahine, the Chairman of the Company's Board of Directors said: "The Company is disappointed that its joint venture partner, BGKL, and the company in which Range Energy Resources has invested significant shareholder capital, NAAZ2, have decided to challenge the arbitration award. BGKL and NAAZ2 commenced this proceeding even when both agreed that disputes among the parties will be exclusively and definitively resolved through final and binding arbitration. The Company commenced this arbitration to obtain what any shareholder in a company would want-namely, material information on that company's business activities. Unfortunately, BGKL and NAAZ2 have decided to pursue whatever means are available to deny the Company and its shareholders this material information. The Company will continue to vigorously pursue its rights under the NAAZ2 shareholders' agreement and the remedies granted to the Company under the arbitration award."
For further information on Range Energy Resources Inc., please visit the Company's web site at www.rangeenergyresources.com.
On Behalf of the Board of Directors:
Toufic Chahine, Chairman

[jonno1] 22/6/2014 22:54

Gulf LNG Increases Holdings of Range Shares

Further to the news release of Range Energy Resources Inc. (the "Company") dated June 19, 2014 announcing the Company's non-brokered private placement of 25,000,000 units, each unit consisting of one common share and one share purchase warrant (the "Private Placement"), Gulf LNG America, LLC ("Gulf") advises that it purchased all of the units (the "Units") issued in the Private Placement. The Units were purchased by Gulf for $0.05 per Unit, for a total purchase price of approximately $1,250,000.

As a result of the Private Placement, Gulf now owns 300,127,272 common shares of the Company, representing 58.85% of the Company's issued and outstanding common shares. In addition, Gulf has the right to acquire an additional 232,227,272 common shares pursuant to the 25,000,000 share purchase warrants issued to it in the Private Placement as well as the 22,727,272, 122,000,000 and 62,500,000 share purchase warrants that Gulf had previously purchased in May 2014, November 2013 and March 2013, respectively. If Gulf fully exercised such share purchase warrants, it would own 532,354,544 common shares, which would represent 71.73% of the Company's issued and outstanding common shares. Immediately prior to the Private Placement, Gulf held 275,127,272 common shares of the Company, representing 56.73% of the Company's issued and outstanding common shares.

Gulf acquired the securities for investment purposes and intends to evaluate their investment and to increase or decrease their holdings in the Company as circumstances warrant.

The Units were issued to Gulf in reliance upon the registration and prospectus exemptions in Section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions.



Read more: hxxp://www.digitaljournal.com/pr/2004570#ixzz35PKPLSZs

[jonno1] 14/6/2014 19:02

it's on their website

[roily] 14/6/2014 17:22

Jonn, thanks and how did you come buy the release? Did they actually send it to you or did you see it at SH?

IT would be nice to know what happened on the first well but I will take this as a positive if they are stumping up to pay for a testing program on the second well. They wouldn't be testing if it were a duster.

The whole ISIS event needs to play out and I really have no idea how that is going to impact Kurdistan. My gut feeling is that it will be good as it will either force the ICG to come to some form of agreement or the KRG will get their independent state. There is so much at play right now it is hard to disseminate the wheat from the chaff. The politics of the region are so complex that you have to understand what role the Saudi's and Turkey played in the entire event, and will the US get involved?

A lot to play out yet and I suspect each day there will be something new to decipher.

Anyways, thanks for the info.

[jonno1] 14/6/2014 12:40

God this is a frustrating situation, the company wins the arbitration, but has no update to give!...but now does a PP for 25 million shares...I can only presume that they have something to test. I did trim my holding down to 50k the other day and will hold for the eventual outcome, here is the press release...however leaves more questions than answers.

RIGHT TO EXTEND PRODUCTION SHARING CONTRACT FOR KHALAKAN BLOCK EXERCISED; TESTING PROGRAM BEING FUNDED; NON-BROKERED PRIVATE PLACEMENT BEING COMMENCED

June 13, 2014
Vancouver, BC, Canada – Range Energy Resources Inc. (the "Company") (CSE: RGO) (FWB: YGK) is pleased to announce that the Contractor under the Production Sharing Contract ("PSC") for the Khalakan Block exercised its right to extend the Exploration Period under the PSC for a period of one year, and that a well testing program for the second well on the Khalakan Block is being funded by the Company through its capital contributions to New Age Alzarooni 2 Limited ("NAAZ2").

Exploration, development, and production activities on the Khalakan Block in Kurdistan are governed by the PSC between Gas Plus Khalakan ("GPK") and the Kurdistan Regional Government. The Company recently learned that GPK informed the Kurdistan Regional Government that it is exercising its right to extend the Exploration Period under the PSC for another year. The Exploration Period was originally scheduled to expire on June 11, 2014. The Company owns 49.9% of the shares of NAAZ2, which in turn is the owner of 50% of the shares of GPK. The Company voted in favor of NAAZ2's signing on to a GPK shareholder resolution supporting the extension.

Additionally, as a result of a recent Authorization for Expenditure ("AFE") reflected in NAAZ2's revised annual budget, the Company can report that it is funding a testing program at the second well being drilled on the Khalakan Block, called Shewashan-1. The Company is funding this activity through the regular capital contributions it is required to make to NAAZ2. NAAZ2 in turn uses this capital to meet its own capital contribution obligations to GPK, which then uses this capital to fund exploration, development, and production activities on the Khalakan Block as the Contractor under the PSC. The Company has not been informed of the status of the testing program or its results.

The Company's ability to report on the status of work at the Khalakan Block is the result of the recent arbitration award that the Company received. As previously reported, on May 27, 2014, the International Chamber of Commerce notified the Company of the final award issued in the arbitration proceeding that the Company commenced against NAAZ2 and Black Gold Khalakan Limited ("BGKL"). The arbitration tribunal awarded the Company orders and declarations which support the Company's right to obtain material information as to its investments, and to use such material information (which the Company must otherwise hold confidential) to produce public summaries of the status of the work at the Khalakan Block as is necessary to comply with applicable securities laws.

The Company intends to report as much information as it can under the terms of the arbitration award. However, as the Company previously reported, the effectiveness of the award ultimately depends on compliance with it by NAAZ2, BGKL, and their respective directors. There can be no certainty that these parties will provide, or will cause to be provided, to the Company the information that it requests from time to time or will cooperate with the Company in its efforts to disclose material information to its shareholders. The Company intends to vigorously enforce the award.

The Company also is announcing a non-brokered private placement of up to 25,000,000 units of the Company at a price of CDN$0.05 per Unit for gross proceeds of up to $1,250,000 (the "Offering"). Each Unit will consist of one (1) common share (the "Common Share") and one (1) transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one (1) additional Common Share for a period of five (5) years from the Closing Date of the Offering at a price of CDN$0.07 per Common Share.

The closing of the Offering is subject to receipt of all necessary regulatory and Board approvals. The securities issued pursuant to the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Company anticipates that there may be insider participation in the Offering.

The capital from the Offering will be used by the Company to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue as well as provide general working capital.

For further information on Range Energy Resources Inc., please visit the Company's web site at www.rangeenergyresources.com.

[jonno1] 06/6/2014 07:27

from Stockhouse

"Turkish entity". Is it for real ?
From WesternZagros:

hxxp://www.westernzagros.com/wp-content/uploads/2013/0/130206_operator_activity_EXTERNAL.pdf

In this PDF you can read the following:

"Shewashan-1 spud Oct 2013."
"Sidetracked and reached TD 3672m (Cretaceous). Testing"

... it also says ...

"SW1"
"KHALAKAN"
"Gas Plus Khalakan 40%"
"Turkish entity 40%"
"KRG 20%"

It is about time we get some info about this "Turkish entity". Is it for real ?

GLTA / Bubo

Read more at hxxp://www.stockhouse.com/companies/bullboard/c.rgo/range-energy-resources-inc#1gYOEiixKbGTooEH.99