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James Bevan on cybersecurity, banks and the housing market


Range Resources Ltd Share Chat (RRL)



Share Price: 0.34Bid: 0.00Ask: 0.00Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.00Spread as %: 0.00%Open: 0.34High: 0.00Low: 0.00Yesterday’s Close: 0.34


Share Discussion for Range Resources Ltd


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bountyman
Posts: 1,674
Off Topic
Opinion:No Opinion
Price:0.34
No QnA
5 Apr '17
Eva has confirmed no QnA to happen until after the completion of the RTO.

KRO
 
workover
Posts: 394
Off Topic
Opinion:No Opinion
Price:0.34
RE: RNS
5 Apr '17
Yes bounty man/ KRO

CELTIC expects a country to pay us for the land that belongs to them. The land that they leased out for us to explore but we weren't capable of doing so! It's like a tennant saying to a landlord let me stay or I'll take the house from you through the courts! Delusion knows no bounds!
bountyman
Posts: 1,674
Off Topic
Opinion:No Opinion
Price:0.34
View Thread (2)
RE: RNS
5 Apr '17
Celtic, what world do you live in where the govt of Georgia are going to pay our holding value for the blocks they are allowing us to drill in their Country.

It isn’t really much news as it has been massively written down over the years following the drill that found granite, and we have been trying to offload since pretty much then.

I think Workover is a bit strong with the assessment, but it holds some value which we will likely not realise anything against.

I can’t pretend I am bothered – when was the last time Georgia was really mentioned in any meaningful discussion.

A bigger concern would be Columbia, but it appears that holds limited exposure, but again we have not had an update on this in quite some time.

Q&A was/is due today – will see whether Range can hit a target date (albeit a delayed one…)

KRO
shatter
Posts: 6,012
Off Topic
Opinion:No Opinion
Price:0.34
View Thread (2)
Re: rns
5 Apr '17
This lurches from one disaster to another. Missed production figures year after year... twopence halfpenny outfit ! I consider my investment to be a write-off.. hope I'm wrong.
workover
Posts: 394
Off Topic
Opinion:No Opinion
Price:0.34
RE: RNS
5 Apr '17
That should say impairments and write downs
workover
Posts: 394
Off Topic
Opinion:No Opinion
Price:0.34
RE: RNS
5 Apr '17
Even a legal dispute with governments is good news in your eyes!! Seriously??????
All this means is that we will have even more impatients and writedowns on the way! Looks like Range won't be profitable next year either based on this news as any profits generated will have to offset the write downs. Onwards and upwards to 2019-2020 (assuming we still exist and haven't been delisted)!!!
Ps: Glad that you have learned something from the last suspension as you were posting strong buys all the way through the suspension.
Celticheart
Posts: 11,464
Observation
Opinion:No Opinion
Price:0.34
RE: RNS
5 Apr '17
Wasn't intending to post a strong buy by the way as we are suspended :)
Celticheart
Posts: 11,464
Observation
Opinion:Strong Buy
Price:0.34
RE: RNS
5 Apr '17
Maybe this way we can at least recover some of our US$1.25 million from the Georgian government, smart move if we can.
bountyman
Posts: 1,674
Off Topic
Opinion:No Opinion
Price:0.34
RE: RNS
5 Apr '17
Well nothing too exciting. Would like to keep it, just for the ability to sell and recover some of the huge sunk costs before granite-gate.

That said, we have been looking for suitors for a number of years and looks like it was not going to happen so no great loss.

I suspect if we could have sold we would have but looks like 1 more asset off the sheet, one last thing to worry about.

KRO
biglad0001
Posts: 621
Off Topic
Opinion:No Opinion
Price:0.34
RNS
5 Apr '17
Georgia Update

Range notes an article published on 3 April 2017 by the Government of Georgia represented by the LEPL State Agency of Oil and Gas of the Ministry of Energy of Georgia ("the Agency"), announcing an open international tender on Block VIA in Georgia (the article can be accessed here: http://www.energy.gov.ge/projects/pdf/news/Tender%20Annousment%201673%20eng.pdf) ("the Tender Announcement").

Range, through its 45% shareholding in Strait Oil and Gas Limited ("SOG"), holds an interest in the Production Sharing Contract over Block VIA dated 29 March 2007 ("the PSC"). Range has been involved in the project since 2009 and has invested very substantial capital since that time with funds used to complete the minimum work programme stipulated by the PSC. The Agency has previously confirmed to SOG that this minimum work programme has been satisfactorily completed.

Range firmly believes that the PSC over Block VIA remains valid and is in good standing. Range believes that any purported relicensing of Block VIA by the Agency pursuant to the Tender Announcement would be a flagrant breach of the terms of the PSC.

Range has contacted the Agency to seek an amicable resolution and has requested an urgent meeting. In the meantime, Range has engaged legal advisers and is exploring relevant routes to preserve the value of its investment.

As at 31 December 2016, Range has a carried value of US$1.25 million attributed to its interest in the project on its balance sheet.

Further announcements on this subject will be made as and when necessary.




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