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Range Resources Ltd Share Chat (RRL)



Share Price: 0.47Bid: 0.46Ask: 0.50Change: -0.005 (-1.05%)Faller - Range Res.
Spread: 0.04Spread as %: 8.70%Open: 0.47High: 0.47Low: 0.47Yesterday’s Close: 0.475


Share Discussion for Range Resources Ltd


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johnpeterson
Posts: 73
Off Topic
Opinion:No Opinion
Price:0.30
Wow look at that bid
14 Mar '16
Just saw the bid at 0.2, with the ask at 0.35 :-\ what a bad spread
 
Dreamboatwarrior
Posts: 3,775
Off Topic
Opinion:No Opinion
Price:0.30
View Thread (2)
KC
14 Mar '16
Blue finish....?
Dreamboatwarrior
Posts: 3,775
Off Topic
Opinion:No Opinion
Price:0.30
View Thread (4)
KC
14 Mar '16
Not everyone agrees with you .....

UK Stocks

Range Resources (Under Review) – Well spudded in Trinidad

RRL LN (0.4p, TP Under Review), Market Cap: £30m

(Corporate Stock)

Our view: Range has announced that approval for the new 4,000m drilling rig has been granted, and subsequently, the MD 51-1 development well successfully spudded on 10 March 2016. The well is drilling ahead to a total depth of 4,150ft and is expected to take four to five weeks to reach target depth. The well will test deeper horizons of the Upper and Middle Cruse sand trends and explore the potential of out-step drilling. MD 51-1 is a deviated well from the previously drilled MD 248 well location, therefore adding to Range’s already comprehensive dataset over the Morne Diablo field. 2016 will be an active period for Range, with a number of wells planned in Trinidad, underpinned by a robust financial position and dynamic management team, we see the shares as representing compelling value.
Kiplingcakes
Posts: 3,414
Off Topic
Opinion:No Opinion
Price:0.30
As ever, market doesn't like it
14 Mar '16
Down she goes

Pretty standard really.

Next up 0.2p
Sanchez57
Posts: 1,386
Off Topic
Opinion:No Opinion
Price:0.32
Trin onshore b/even
14 Mar '16
at $15 targeted, sounds very attractive and their for sales sign is still up, if i read that right. Perhaps the process would be quicker for any farm in or nibble, given greater stability on oil price, relative to last long months.

Lot of data to digest with Rns s from three TT players. Got my RNS direct from IR. Anyone else find that?
OMADAWN
Posts: 1,588
Off Topic
Opinion:No Opinion
Price:0.3525
RE: RNA
14 Mar '16
The investment opportunity here is looking better. Once you have “type” approval, the key aspects of authorisation have been achieved, hence the remaining rigs should be approved shortly enabling operations to step up fairly quickly.

Interesting that LGO & TRIN have also issued upbeat RNA’s this morning as the POO rises above the be value I had calculated and shared.

While no one can predict the future price of oil, the odds are starting to weigh in favour of a slow rise as you have depletion and world demand growth in our favour.

By June we should have all rigs working and potentially early results from the extended water-flood.

Trinity onshore assets do look to be within the reach of RRL
Celticheart
Posts: 9,503
Observation
Opinion:No Opinion
Price:0.3525
Positive news
14 Mar '16
For once I am in agreement with Oma, can see us rising past 0.4 on the back of this RNS alone. Would like to see us past 0.5 by the weekend too, some more positives regarding the POO would certainly help.
thetrancedude09
Posts: 364
Off Topic
Opinion:No Opinion
Price:0.3525
RE: LGO
14 Mar '16
yikes... not good news from trinity......

I hope Range go nowhere near them.......
OMADAWN
Posts: 1,588
Off Topic
Opinion:No Opinion
Price:0.3525
RE: LGO
14 Mar '16
LGO announcement indicating that they have negotiated revised royalty rates. Would be good if this was a government initiative for all onshore operators :-)
Celticheart
Posts: 9,503
Observation
Opinion:Strong Buy
Price:0.3525
View Thread (2)
Great news this morning
14 Mar '16
New well spuds in Trinidad

Range is pleased to advise that approval for the new 4,000 m drilling rig has been granted to RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd). Subsequently, the MD 51-1 development well (renamed MD 250 well) successfully spudded on 10 March 2016 using the rig. The well is drilling ahead to a total depth of 4,150 feet and is expected to take four to five weeks to reach target depth.

The MD 250 well is the first development well to be drilled using one of RRDSL's new rigs. The well will test deeper horizons of the Upper and Middle Cruse sand trends and explore the potential of out-step drilling. MD 250 is a directional well from the previously drilled MD 248 well location.

The Upper Cruse sands, though penetrated by numerous surrounding wells, have not been fully exploited in this area of the Morne Diablo field. The Middle Cruse sands have been identified as well-developed in nearby wells with some of those having produced in excess of 100,000 barrels from this horizon during the well life.

As previously announced, RRDSL successfully completed construction of a three-cellar drilling pad during 2015. Initially, the MD 250 well will be drilled from the drilling pad. Drilling of further wells from the drilling pad will be evaluated dependent on the results from this well.

Further three new drilling rigs of RRDSL are currently undergoing certification and will be brought into drilling operations once approved.




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