I have read the RNS a number of times this week and previous Q&A responses to which I observe the following
1. It's clear Range have improved a little but sentiment is still very low 2. They have short term funding issues - hence 12 month extension 3. Land ocean had no choice to accept deferral otherwise covenants default 4. Sinosure funding is extremely unlikely to happen - perhaps they will get funding elsewhere but how do they fund water flood programme 5. Still can't see them hitting 1000 BOPD this year which is poor considering the promises and 2500 BOPD is fantasy island stuff 6. Can't see how with little available funds and gambling massively on poo rising which is not guaranteed and only needs terrorist acts or issues running up to the USA presidential election they can consider acquisitions. If anything they look more likely to be takeover by Chinese investors - Could Landau's cronies come back in?
Alls looking good hear for a decent rerate,,its been a long road thats for sure. Another share i was looking at looks worth a punt FRR charts suggest buy in at 0.0007 anybody wiser than me got any ideas?
Range Resources The good news just keeps on coming for Range who yesterday announced that approval for the MD 51-2 development well had been given and will spud imminently. With more drilling this year in both the Morne Diablo and the Beach Marcelle as well as at least one exploration well the company are getting good bang for their bucks. Those buck facilities are getting better too and production targets should be achieved. the shares ran very hard at the beginning of the year, tripling in three months, since then they have taken a breather but look most interesting at these levels.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.