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Range Resources Ltd Share Chat (RRL)



Share Price: 0.336Bid: 0.302Ask: 0.37Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.068Spread as %: 22.52%Open: 0.40High: 0.40Low: 0.336Yesterday’s Close: 0.336


Share Discussion for Range Resources Ltd


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Celticheart
Posts: 9,606
Observation
Opinion:Strong Buy
Price:0.3205
Trinidad update RNS
Wed 07:15
Trinidad update

Range provides the following update on its Trinidad operations with the following highlights:

· The approval to spud the MD 51-2 development well has been granted and the well is expected to spud early next month;

· Workover programme on the existing wells has been reviewed to focus on the most economic wells; and

· The credit terms provided by LandOcean on drilling services and PO1 have been extended by further 12 months, to allow the Company to repay credit from future cashflows once production ramps up.

Range is pleased to advise that it has received the approval from the regulatory bodies in Trinidad to spud the MD 51-2 development well. As previously announced, this will be a directional well to be drilled to a total depth of 3,900 feet to test the Middle and Upper Cruse sands, which were encountered with the MD 250 well. The initial log evaluations on the MD 250 development well identified multiple hydrocarbon bearing zones, with an estimated net pay of over 140 feet.

The well will be drilled from the same drilling pad as the MD 250 well, using a 4,000 metre rig. The wellhead is located approximately 20 feet from the MD 250 well and the drilling company RRDSL is in the process of moving the rig to the well location. The Company expects to spud the well in July and will provide a further update to all shareholders upon spudding. In line with safety requirements, production testing operations of the MD 250 and MD 51-2 wells will be performed only once all drilling operations on the pad area are completed.

This is the second of the six well drilling programme which Range has planned for 2016. The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block.

RRDSL's further three new drilling rigs are pending final approvals from the Ministry of Energy and Energy Industries (MEEI). Approvals cannot be granted until all documentation on the rigs, as requested by the MEEI, is provided by RRDSL. RRDSL is working on acquiring the requisite documents for submission to the MEEI. As advised by RRDSL, approvals are expected to be received in Q3 2016.

As part of the Company's ongoing cost management, Range has completed a workover programme review. As a result, the Company has reduced a number of workovers to focus on the most economic wells. Range will keep the workover programme under a regular review and carry on workover operations on the most profitable wells.

Range continues to focus its efforts on the longer term growth from waterflood projects and development drilling. The Company conservatively estimates that the five development wells from the 2016 work programme will add approximately 500 bopd to current production levels by the end of this year. Range reiterates its previous production guidance of 2,500 barrels of oil per day (bopd) by the end of 2017, with the majority
 
Lavazza
Posts: 14
Off Topic
Opinion:Strong Sell
Price:0.3205
RE: Debt Management
Tue 21:26
September. Exact date on the Web Site,

Debt to equal cash reserves inclusive of the bond. Indicating that planned production will just cover debt obligations. Little value left for shareholders but a nice revenue stream for LO.
randytandy
Posts: 30
Question
Opinion:No Opinion
Price:0.3205
RE: Debt Management
Tue 21:06
When are next set of results due and what are you expecting them to say?
Lavazza
Posts: 14
Observation
Opinion:Strong Sell
Price:0.3205
Debt Management
Tue 21:04
Managing the books is the priority for RRL aka the switch from 12 to 24 months enables cash recycling to suck on production.

It's now a case of watching a steady decline in Mcap,

DYOR
bountyman
Posts: 1,455
Off Topic
Opinion:No Opinion
Price:0.325
QnA
Tue 11:07
I am really questionning the point of this exercise roughly each month or so as they just waffle on from the past or state that it has to be in an RNS.

Why not just put out an actual RNS which deals in as much details with the questions investors have raised!

Anyhows, im off here for a week or so. Expecting very little, infact no news by by return (trying to tempt fate)

KRO
Bounty
bountyman
Posts: 1,455
Off Topic
Opinion:No Opinion
Price:0.325
RE: Tiny share trades
Tue 11:04
Spent your pocket money Oilspill?
Celticheart
Posts: 9,606
Observation
Opinion:Strong Buy
Price:0.325
Malcy's Blog / Oil Price
Tue 09:51
Oil continued to rally yesterday as potential disruption from Brexit was priced down by equity markets although with only two days to go it seems all is still to play for in the UK. July WTI expires tonight and although crude is off around 30 cents this morning the August contract remains quite well bid. Watch natural gas creeping up towards three bucks, spies, including the PANR partners have all been saying that upwards momentum will hold…
OilSpill
Posts: 384
Off Topic
Opinion:No Opinion
Price:0.325
RE: Tiny share trades
Tue 09:06
it looks like a buy....
OilSpill
Posts: 384
Off Topic
Opinion:No Opinion
Price:0.325
RE: Tiny share trades
Tue 09:03
they may have been purchased at the all time high, in an ISA, and now the investor had traded out.
Frenchletter
Posts: 35
Off Topic
Opinion:No Opinion
Price:0.325
Tiny share trades
Tue 08:57
Can someone explain to me the opening trade of the day, 117 shares for 43pence, how is this possible, even an electronic trade, why would someone do that, and shouldn't there be a minimum value so as not to distort the market.




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