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Range Resources Ltd Share Chat (RRL)



Share Price: 0.37Bid: 0.33Ask: 0.399Change: 0.01 (+2.78%)Riser - Range Res.
Spread: 0.069Spread as %: 20.91%Open: 0.37High: 0.37Low: 0.37Yesterday’s Close: 0.36


Share Discussion for Range Resources Ltd


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Celticheart
Posts: 9,703
Observation
Opinion:Strong Buy
Price:0.35
Predictable finish
18 Jul '16
And we end the day with 4 tiny meaningless little trades. someone really does not want to see this rise
 
Dodger777
Posts: 1,044
Observation
Opinion:No Opinion
Price:0.3405
RE: RNS today
18 Jul '16
I just wish they'd get those new drills signed off and get drilling, the delays seem never ending. The new equipment will be rusting up at this rate.
petebo
Posts: 1,647
Off Topic
Opinion:No Opinion
Price:0.3405
View Thread (2)
RE: RNS today
18 Jul '16
Range stated that they expected to Spud "early next month" (July)

Celtic posted

"Range have once again done what they said they would, spudded the second well mid July."

Regardless of it been meaningles, (it is four months since the 1st well was drilled)That was simply an inaccurate post trying to suggest Range had hit a target when they hadnt

The only meaningful figure in the near future will be the BOPD which we should get shortly after the end of the month. That will give us a clue how much revenue is coming into the coffers
Celticheart
Posts: 9,703
Observation
Opinion:Strong Buy
Price:0.3405
View Thread (3)
RNS today
18 Jul '16
To clarify I did not post anything misleading, Range stated that they expected to Spud "early next month" (July). That was not a precise date but an approximation, drilling is not an exact science as we all know so the 15th is fine by me. How many days earlier would it have taken to satisfy some of the serial complainers I don't know. Maybe if they had spudded in the first week the complaint would have been that it was at the beginning of the month rather than early, who knows :)
bountyman
Posts: 1,474
Off Topic
Opinion:No Opinion
Price:0.3405
RNS today...
18 Jul '16
Celtic, firstly before any accusations of me deramping, I hold c 2m shares and want this to increase as much as the next person.

You are simply posting misleading posts, Range missed early July, you cannot spin it any other way. Pedantic or not it is yet another missed target. This is even more frustrating when the general stance of the company of late is vague statements such as soon and shortly. I am exceptionally frustrated that it has taken so long since the last well to drill a new well a number of feet away. LGO, from memory, managed a much quicker turnaround than we did so there really are no reasonable excuses.

As for your comment over there not necessarily being a 3rd well. You should really be hoping there is a 3rd well or this would indicate to me that these well results have been less than desirable. That said these are seen as “extra wells” to the 5 planned this year. The level of drilling for a O&G E&P company with a BOPD of c 500 BOPD (probably less now they have scaled back workovers) is shocking. We get paid on selling the stuff we get out of the ground. We should be pressing ahead. Delivering positive figures and making the island look like swiss cheese given the size of our acreage. YET the idea of TRIN sounds like a good idea. LO cannot even get the rigs signed off to try and drill ahead.

Pete/mini, as frustrating his can be to read, continues to call the company as he sees it. I am massively hopeful but little things like this add up to a bigger frustration on my behalf.

Also, I agree that there are the potential for massive uplifts next year with the waterflood BUT at present we don’t have sufficient water (and will sign the contract for Petrotrin’s waste “SOON”) and also do not have the funds to deliver the project in it entrity as we still have not signed the Sinosure deal which again should be signed soon (or shortly – I forget which kick a date down the road adjective they used last time…)

As I say I hope for the best and have been here for 6 (maybe more years) so think that I have seen all the sides of Range in the times I have been invested.

KRO

Bounty.
Dodger777
Posts: 1,044
Observation
Opinion:No Opinion
Price:0.3405
Twitter
18 Jul '16
They updated their Twitter feed with a couple of small vids showing they are actually drilling for something :)
petebo
Posts: 1,647
Off Topic
Opinion:No Opinion
Price:0.3405
RE: Another step forward for Range
18 Jul '16
If only the Chines would adpot a 'can do' or even better 'can do ontime' attitude.
Rex, if they have a cunning plan NOT to drill much as you hint at they should tell shareholders and not constantly lie to us.
Rexco
Posts: 3,002
Observation
Opinion:Buy
Price:0.3405
RE: Another step forward for Range
18 Jul '16
Others not taking account of low oil price and prime policy of water flooding.

Range need higher production levels and preferably a higher oil price. This has to be done via water flood to maximise returns and use of funds. Basic economics that the Chinese understand but many shareholders do not.
We have been dealt this hand when the alternative was losing everything.
Time to suck it up and leave it to the professionals on the BOD who have stopped the company haemorrhaging money and have accepted lower pay.
Thank goodness we are leaving the EU since so many have been infected by their can't do attitude. Time for the British bulldog spirit to come back.
Celticheart
Posts: 9,703
Observation
Opinion:No Opinion
Price:0.3405
RE: Another step forward for Range
18 Jul '16
Now that is just being pedantic.
petebo
Posts: 1,647
Off Topic
Opinion:No Opinion
Price:0.3405
RE: Another step forward for Range
18 Jul '16
Again Celtic you post to deliberately mislead. Range said they would spud this well early July and not Mid July as you post




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